GI Partners has closed the GI Partners Fund VI, with USD3.9 billion in total commitments. The oversubscribed fund includes a broad group of global investors and surpassed its target of USD3.25 billion, as well as exceeded its prior Fund V raise of USD2.8 billion in 2017.

The latest GI Partners private equity fund continues the firm’s focus on control-oriented investments in North American companies with solid downside protection and substantial growth potential across four key sectors: Healthcare, IT Infrastructure, Services, and Software. The Private Equity group, consisting of over 35 investment professionals, is led by Managing Directors Hoon Cho and Travis Pearson, who were promoted to Co-Heads of Private Equity in 2020.

Rick Magnuson, Executive Managing Director and Founder of GI Partners, says: “As we celebrate our firm’s 20th anniversary, we move forward with a deep team of dedicated professionals who are integral to our continued success. We remain committed to delivering value for our investors by utilising our disciplined and differentiated strategy that we have refined since our founding.”

Commenting on the fund close, Messrs Cho and Pearson, say: “Our firm’s 20-year focus on investing in downside-protected growth companies has proven as effective in the past 15 months as it has in prior economic crises. Throughout the recent challenging environment, our team worked closely with our portfolio companies to ensure they not only withstood the impact of Covid-19 but continued to grow. The private equity group has remained active, adding five new platform investments and exiting three companies while focusing on developing a strong portfolio that builds on our team’s proven track record of value creation.”

Read more/Source: Private Equity Wire