OpenGate Capital’s Second Institutional Fund Closes With a Flourish

November 8, 2019 | News, Private Equity

Private equity firm OpenGate Capital’s Second Institutional Fund raised $585 million versus a target of $450 million.

The enthusiastic support for OpenGate’s second institutional fund came from 23 investors located across seven countries. These included pensions, wealth managers, insurance companies, and asset managers. Moreover, the fund’s oversubscription of 30% shows the global eagerness to place capital with reputed and focused private equity firms. The second fund is designated “OpenGate Capital Partners II & II-A, LP.”

Founded by Andrew Nikou in 2005,  OpenGate Capital operates out of offices in Los Angeles and Paris. The private equity firm focuses on four industry segments, namely Industrials, Technology, Consumer, and Business Services. Moreover, the firm acquires and optimizes lower middle-market businesses located in North America and Europe. It specializes in corporate carve-outs and complex situations.

Further, its OGx unit serves as a technology partner to platform companies. It also helps them through digital transformation to achieve their maximum potential.

Sophisticated investors on board

“We are extremely honored to have the trust and confidence from our existing investors who re-committed with us and excited to partner with our new investors who represent some of the most sophisticated institutional investors,” said Andrew Nikou, who is also the CEO, of OpenGate Capital.

Platform investments

The first fund from OpenGate, of 2015 vintage, has concluded nine platform investments. These include Power Partners, Bois & Matériaux, Energi Fenestration Solutions, Alfatherm, EverZinc, Hufcor, Mersive Technologies, Jotul/Ravelli, and Fichet Security Solutions.

Meanwhile, investments through the second fund include Fiven, SMAC, Sargent & Greenleaf, Duraco, InRule Technologies, and CoreMedia.

OpenGate announced the last-named investment earlier this week. It acquired a majority interest in CoreMedia from Deutsche Telekom Capital Partners and a consortium of private investors for an undisclosed sum. CoreMedia is a global content management and digital experience platform.

[Related Story: Private Equity Giant KKR Announces Special Situations Fund III ]

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

Subscribe


Alt Insights

November 20, 2019

Prison For the Man Who Tried to Scam The Mooch

Prison For the Man Who Tried to Scam The Mooch
Shape

Latest Alternative Investment News

Activist Carl Icahn Is Shorting Mall Owners – Should You?
November 20, 2019     Investments, Latest News, News, Real Estate

Activist Carl Icahn has taken another big bet against a sector. This time, the hedge fund manager is targeting mall operators. Icahn could earn $400 million or more if mall…

Here’s What’s in the Apollo Management 13-F
November 20, 2019     Investments, News, Private Equity

The Apollo Management 13-F reveals what the private equity and alternative investment firm bought and sold in the third quarter. While we cannot see or benefit from their private holdings,…

Fidelity Digital Assets Secures New York State License

Fidelity Digital Assets received a license from the New York State Department of Financial Services. The state regulator provided permission for the crypto-arm of Fidelity Investments to offer new services….

Prison For the Man Who Tried to Scam The Mooch
November 20, 2019     Headlines, Hedge Funds, Investments, News

Premium Point Investments trader receives 40 months in prison for a mismarking scheme. Anthony Scaramucci has received justice from the firm that caused Skybridge Capital about a $79 million loss….