- Gallant formed in partnership with Alec Gores
- Park Hill is placement agent
- Jon Gimbel, Anthony Guagliano launched Gallant
Two executives from Gores Group have left the firm and launched a new fund targeting $300 million, sources told Buyouts.
Gallant Capital Partners was launched recently by Jon Gimbel and Anthony Guagliano in partnership with Alec Gores. Gimbel was a managing director on the firm’s small-cap team, while Guagliano was a managing director at Gores.
Alec Gores, founder and chief executive, is committing to the fund and has a minority stake in Gallant’s management company, sources said. Alec remains at Gores running day-to-day operations.
Sources said Gallant is officially fundraising. Park Hill Group is placement agent, sources said. Gimbel and Guagliano did not respond to LinkedIn requests for comment.
Gallant has an operational focus and will invest in lower-middle-market complex situations and carveouts.
Gores will continue to have its own small-cap team that will manage existing investments. That team includes longtime senior executive Catherine Pollard and Principal Anthony Chirikos.
Another member of the small-cap team, Victor Otley, left Gores at year-end.
The small-cap group was launched in 2012 by Ashley Abdo, Otley, Pollard and Michael Nold, a statement from the firm at the time shows. Abdo left last year, his LinkedIn profile says. Nold left in 2012, shortly after the small-cap group was formed. Pollard remains at the firm.
In 2012 Gores raised $300 million for Gores Small Capitalization Partners. That’s the firm’s best performing vehicle, generating a 14.6 percent internal rate of return as of March 31, 2017, California State Teachers’ Retirement System data shows.
Gores Capital Partners III was set to co-invest $100 million alongside the small-cap fund, a news release said.
The small-cap fund was formed to invest in lower-middle-market businesses across tech, telecom, industrial, business services, media, healthcare and security in the U.S. and Europe. The firm looks for control-oriented investments of mature, underperforming businesses.
Action Item: Check out Gores Form ADV here: http://bit.ly/2AR4O19
Photo of Jon Gimbel sourced from Gores Group website