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Platinum Equity raises new $6.5 bln global buyout fund

March 13 Platinum Equity LLC said on Monday it had finished raising a new $6.5 billion global buyout fund, its largest ever, underscoring healthy investor demand for private equity investments.

Platinum Equity Capital Partners IV fund was raised from more than 200 investors from 28 countries, Platinum said in a statement on Monday. Platinum said the fund was "heavily oversubscribed," meaning that investor demand exceeded supply, but offered no further details.

Platinum's previous fund, raised in 2012, raised $3.75 billion from investors.

Headquartered in Los Angeles, Platinum was founded in 1995 and holds diverse investments including in technology, healthcare, entertainment, manufacturing and natural resources.

Last year, Platinum bought a network power unit for $4 billion from Emerson Electric Co, a maker of factory automation equipment.

A total of $345 billion was raised in the buyout market in 2016, according to market research firm Preqin, making it the fourth consecutive year when private equity funds raised have exceeded $300 billion. (Reporting by Koh Gui Qing in New York; Editing by Cynthia Osterman)

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