Shamrock Partners Take Control While Third Fund Comes In at $400 Mln--UPDATED

For Shamrock Capital Advisors, fundraising for its third pool was a rather quick affair. The Los Angeles PE firm spent roughly eight months marketing for Shamrock Capital Growth Fund III L.P. which just raised $400 million. By comparison, Shamrock spent a year fundraising for its second pool, which came in with $311.5 million in 2006, says managing partner Stephen Royer. Fundraising has been tough for several firms and many are taking longer to finish. Shamrock actually began marketing for fund III late last year and most of the money was lined up by April, Royer says. A final close didn't occur until last week, he says.

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