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
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
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