Los Angeles private equity firm Shamrock Capital Advisors has closed its third buy-out fund on $400m.
The Shamrock Capital Growth Fund III is to focus on providing buy-out and growth capital investments in companies in the media, entertainment and communications industries.
The fund will invest in companies seeking $15m to $75m of capital in both control and non-control transactions.
Shamrock has closed three funds focused on media, entertainment and communication investing since 2001, with a limited partner base made up of pension funds, endowments and foundations, family offices, and financial institutions. Fundraising for the fund began in 2010 and was oversubscribed.
Shamrock partner Steve Royer said, “The support we received from our existing limited partner base and new partners was exceptional. We are very grateful to those partners, and we are excited about our team’s ability to achieve above market returns for our investors.
“The lower middle market for media, entertainment and communication continues to have significant opportunity for growth,” he added.
In 2010, Shamrock’s private equity activities were formally separated from Shamrock Holdings, the family office for the late Roy E. Disney. Shamrock is now majority owned by its partners and invests on behalf of a diversified group of institutional limited partners in both control and minority investments. Shamrock currently has over $700m under management.
Copyright © 2011 AltAssets