OpenGate Capital Fund II raises $585 mln


OpenGate Capital said Nov. 4 that its second institutional fund closed at about $585 million, above its $450 million target. OpenGate Capital Partners II & II-A LP includes 23 LPs from seven countries, including pensions, asset managers, consultants, fund of funds, wealth managers, and insurance companies from the US, Europe and the Middle East. The firm targets lower middle market businesses throughout North America and Europe across four focus industries: industrials, technology, consumer and business services.

PRESS RELEASE

OpenGate Closes Second Institutional Fund with $585 Million in Commitments
Exceeds Target of $450 Million with Commitments from Existing and New Institutional Investors
November 04, 2019 11:20 AM Eastern Standard Time
LOS ANGELES & PARIS–(BUSINESS WIRE)–OpenGate Capital, a global private equity firm, announced today that it has closed its second institutional fund, OpenGate Capital Partners II & II-A, LP, at approximately $585 million, an amount that was thirty percent above its initial target of $450 million. The new fund supports OpenGate’s on-going strategy to invest in lower middle market businesses throughout North America and Europe across four focus industries: Industrials, Technology, Consumer and Business Services.
Andrew Nikou, Founder and CEO, stated, “We are extremely honored to have the trust and confidence from our existing investors who re-committed with us, and excited to partner with our new investors who represent some of the most sophisticated, institutional investors. The entire team at OpenGate is looking forward to continuing to work with all of our Limited Partners and investing in and optimizing the businesses in our two portfolios. Our deepest appreciation also goes out to UBS and Kirkland and Ellis who were once again our trusted advisors and partners in bringing Fund II over the finish line.”
OpenGate’s second institutional fund comprises 23 investors from seven countries, including pensions, asset managers, consultants, fund of funds, wealth managers, and insurance companies from the US, Europe and the Middle East.
UBS Securities, LLC served as the private placement agent, and Kirkland & Ellis, LLP served as legal counsel in connection with the fund raise.
OpenGate has already completed six platform investments this year through its second fund including Fiven, SMAC, Sargent & Greenleaf, Duraco, InRule Technologies and CoreMedia.
OpenGate’s first fund, a 2015 vintage, completed nine platform investments including Power Partners, Bois & Matériaux, Energi Fenestration Solutions, Alfatherm, EverZinc, Hufcor, Mersive Technologies, Jotul/Ravelli, and Fichet Security Solutions.
About OpenGate Capital
Founded in 2005, OpenGate Capital is a global private equity firm that strives to acquire and optimize lower middle market businesses throughout North America and Europe. With a strategic international presence and a focus on corporate carve-outs and complex situations, the firm’s expertise allows it to realize a seller’s divestiture objectives while mitigating the risks associated with a business’s transition to independence. OpenGate is headquartered in Los Angeles and Paris and has a seasoned in-house team of professionals overseeing the entire lifecycle of each investment. To learn more about OpenGate, please visit www.opengatecapital.com.