Platinum Nearing Final Close

Platinum Equity is less than 60 days away from closing its second fund at its $2.75 billion hard cap, peHUB has learned. The Los Angeles-based firm recently held another interim close on around $2.5 billion. Some of that new capital may go toward the planned $113 million buyout of Industrial Distribution Group Inc. (Nasdaq: IDGR), which was announced yesterday.