Los Angeles-based Shamrock Capital Advisors held a final close of Shamrock Capital Growth Fund IV on its $700 million hard-cap, the firm said.
The firm launched its limited marketing process for Fund IV in late 2015 and generated demand exceeding the hard-cap, it said.
The fund is significantly larger than its predecessor, a 2011-vintage vehicle that closed on $400 million, according to PEI Research & Analytics.
Fund IV will focus on buyout and growth capital investments in the TMT sector, as its predecessor funds have done, the firm said. It will seek both control and non-control transactions involving between $20 million and $100 million in equity capital.
It drew capital commitments from both existing and new limited partners. Among its investors, the Texas County and District Retirement System committed $50 million, according to PEI Research & Analytics.
The preceding fund, Shamrock Capital Growth Fund III, has an investor base that includes the University of California Regents Endowment Fund, which committed $35 million, ATP Private Equity Partners, which committed $50 million, Pantheon Ventures, Mars Incorporated Pension Plan, and the University of California Retirement System, according to PEI Research.
The fund did not use a placement agent.
With the closing of Fund IV, Alan Resnikoff was promoted to partner, Laura Held to principal and Bhuvan Jain to vice president, the firm said.
Resnikoff joined Shamrock in 2004, before which he was a management consult at Bain & Company, according to the firm’s website. Held was an associate in the corporate strategy group at The Walt Disney Company before joining Shamrock in 2012. She had also been an associate at The Carlyle Group and an investment banking analyst at Credit Suisse. Jain, who joined Shamrock in 2014, was previously an associate at the Quadrangle Group and at Morgan Stanley, the firm’s website said.
Shamrock manages about $1.8 billion in assets.