Los Angeles-based Gores Group has closed its third private equity fund after raising $2 billion. The Gores Capital Partners III had previously targeted a $1.5 billion fundraising. Several previous investors participated in the new fund increasing their commitment by 36%.
The fund will seek to invest in technology, telecommunications, business services, industrial, consumer and healthcare sectors. Lazard was appointed as the placement agent, while Weil, Gotshal & Manges was the fund counsel.
Click here for the release from Business Wire.