Los Angeles-based Shamrock Capital Advisors has closed its third fund on its $400 million hard-cap.
Shamrock launched Fund III in late 2010 with a target of $350 million. The fund will invest between $15 million and $75 million in media, entertainment and communications companies, making both control and non-control investments. Shamrock, which targets lower mid-market businesses in North America with EBITDA of up to $30 million, did not use a placement agent for the fundraise.
“The lower mid-market for media, entertainment and communication continues to have significant opportunity for growth,” partner at Shamrock Steve Royer said in a statement.
The firm has yet to deploy capital from Fund III. O’Melveny & Meyers served as legal counsel for the fund’s formation.
In conjunction with the closing, Shamrock has promoted Michael LaSalle and Andy Howard to partners, bringing the total number of parters at the firm to five. LaSalle joined the firm in 2000 from Putnam Lovell Securities. Howard joined in 2006 from media-focused Clarity Partners.
Shamrock’s first two funds closed on $170 million and $311 million respectively. Among the firm’s current portfolio is basketball franchise the Harlem Globetrotters and cinema advertising company Screenvision.
Shamrock Capital Advisors was founded in 1978 as the Disney family investment company.