JMI Equity related stories
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Fundraising is Hard But Don't Tell That To JMI EquityFundraising has been difficult this year for many PE firms. Just don’t tell that to JMI Equity, which just closed its seventh fund at $875 million. JMI, which is based in Baltimore and San Diego, started marketing its newest pool in May and held a first close in July. At that time, JMI Equity Fund VII LP stood at $600 million. A final close occurred earlier this month with the pool topping its initial target of $800 million. JMI didn’t use a placement agent. Rufus King of Goodwin Procter was their attorney. The hard fundraising market didn't cause JMI to blink, says Harry Gruner, JMI’s co-founder and managing general partner. JMI’s decision to go out in May was part of the firm’s natural investment fundraising cycle, he says. Many firms typically start marketing for a new pool when their current fund is about three fourths invested. The firm's last fund, JMI Equity Fund VI LP, raised $600 million in 2007 and is about 80% invested, he says.
- JMI Equity Closes $875 Million Seventh Fund
Private equity firm JMI Equity has closed its seventh fund, JMI Equity Fund VII, L.P., with $875 million. With its new fund, JMI will continue its growth equity strategy, providing capital for acquisitions, recapitalizations and buyouts. The new fund will focus primarily on North American companies, with investments ranging from $10 million to $100 million each. JMI is focused on software, Internet, business services and healthcare IT companies. The firm has raised a total of $2.1 billion since it was formed in 1992. JMI has offices in Baltimore and San Diego, Calif.
- Week in deals, Sept. 13, 2010
Summary of tech companies and other startups in North America that raised venture financing in the past week
- Education, Technology Among PEs Hottest Sectors
From education to banking, health care services to technology, buyout shops are chasing deals with gusto, according to bankers and private equity executives.
- PE Firms Selling Intergraph for $2.13 Billion
Hexagon AB has agreed to acquire Intergraph, a provider of enterprise engineering software to the process, power and marine industries, for approximately $2.13 billion. Intergraph was taken private in 2006 by Hellman & Friedman, TPG Capital and JMI Equity.
- peHUB Wire: Wednesday, July 7, 2010
Random Ramblings
- peHUB Wire: Wednesday, July 7, 2010
Random Ramblings
- PE fund briefs, July 5, 2010
Fund-raising news briefs about New Horizon Capital, Gilde and other PE firms
- peHUB Wire: Tuesday, June 29, 2010
Random Ramblings