Platinum Equity gathers $6.5bn

The global investment firm continues to grow its private equity capabilities with oversubscribed fourth fund.

Platinum Equity Partners IV has held a final close on $6.5 billion. The fund had originally targeted $5.5 billion at its launch in July 2016. The firm will continue to target complex carve-outs from Fortune 500 companies.

The significantly oversubscribed fund received investor support from limited partners such as PensionDanmark, the Teachers' Retirement System of Louisiana, the Los Angeles Fire & Police Pension System and the Kansas Public Employees Retirement System.

Simpson Thacher & Bartlett LLP acted as the legal counsel for Platinum Equity Partners IV.