PPM America Capital Partners has closed its seventh private equity co-investment fund at $648 million. PPM American Private Equity Fund VII LP will focus on North American middle market buyout and growth opportunities.
CHICAGO–(BUSINESS WIRE)–PPM America, Inc.’s private equity arm, PPM America Capital Partners (collectively “PPM”), today announced the closing of its seventh co-investment fund, PPM America Private Equity Fund VII LP, with a 159% increase in size from its predecessor fund.
The newly closed Fund is a part of PPM’s long-standing private equity program which primarily focuses on North American middle market buyout and growth opportunities. PPM’s private finance team was established in 1991; by 1996, the team expanded and developed into separate asset class teams focused on private equity, private debt, bank loans, and structured finance.
PPM America Capital Partners was formed in 2000 and today consists of 10 investment professionals led by President Bruce Gorchow. The team averages 21 years of investment experience and 17 years of tenure with the firm. The PPM private equity team has $2.8 billion in assets under management, including $2.1 billion in primary third-party fund investments and $0.7 billion of equity co-investments each as of March 31, 2018. The PPM co-investment team, led by Austin Krumpfes, has invested in more than 190 transactions totaling over $2 billion since inception.
“Our team has a rich history of managing assets for our clients through multiple market cycles. We are proud of the continued support our clients show us, as historical commitments to our private equity program total $6.9 billion in both primary third-party fund investments as well as co-investments,” said Gorchow.
“Fund VII is one of our largest co-investment funds, and we remain committed to seeking to uncover value opportunities for our clients while partnering with our sponsors and maintaining our disciplined and diversified investment approach,” added Austin Krumpfes, head of co-investment at PPM America Capital Partners.
About PPM America Capital Partners
PPM’s private equity capabilities were established in 1991 and PPM America Capital Partners launched PPM’s first co-investment fund in 2000. Since its inception, PPM’s private equity team has navigated multiple market cycles focusing primarily on North America middle market buyout and growth opportunities. PPM’s private equity team manages both primary fund investments as well as sponsor-led co-investments. For more information, please visit PPM’s website at ppmamerica.com/our-strategies/private-equity.
Founded in 1990, PPM America is a client-focused investment manager with more than $111 billion in assets as of December 31, 2017, including $8.5 billion managed by PPM Finance Inc., an affiliate that manages commercial mortgage loans and certain real estate investments. As part of one of the world’s leading financial organizations, PPM has the expertise, global reach and substantial resources to provide our clients with investment solutions across markets, including public fixed income, public equity, private equity, and private debt. However, like a smaller shop, PPM remains nimble, investment-led and responsive to the opportunities that teams discover together. PPM’s mission is to deliver specific client solutions and service to investors around the world with the goal of meeting investors’ unique investment objectives. In addition, PPM employees are committed to building their community and supporting local nonprofits that strengthen families and increase economic opportunities.