Shamrock Capital Advisors LLC is expected to hit the market later this year for its fourth fund, four sources said.
Los Angeles-based Shamrock is seeking $600 million, a placement source said. The PE firm is talking to LPs, but it is unclear when Shamrock will officially be out fundraising, sources said.
Shamrock Capital was founded in 1978 as the investment firm of the late Roy E. Disney family. In 2010, Shamrock split with the Disney family when partners of the PE firm acquired a majority stake.
A middle-market firm, Shamrock focuses on media, entertainment and communications. It typically invests from $15 million to $100 million equity per deal, according to the firm’s website.
Shamrock’s last fund, it’s third, closed on $400 million in 2011. The firm’s second fund, which was its first institutional pool, raised $311.5 million in 2006. Shamrock’s first pool, which collected $170 million in 2001, was a friends and family fund.
Shamrock’s investment pace “has been slow [but] performance has been good,” a second placement agent said.
Shamrock has yet to do a deal this year, but it was busy in 2014. In November, it sold MarketCast, an entertainment research firm, to RLJ Equity Partners. Two months earlier, Shamrock led a $70 million Series D round for FanDuel. It also bought Questex that month.
Shamrock Capital Growth Fund III LP is producing a 6.15x average multiple as of June 30, 2014, according to data provider Bison. The firm’s second fund is generating an 18.3 percent net IRR and a 1.84 x investment multiple as of Sept. 30, the Regents of the University of California said. Performance data for Fund I was not available.
Shamrock couldn’t be reached for comment.
-Chris Witkowsky contributed to this report.
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