Venture CapitalBrief
GEM closes second independent sponsors fund at 685 million dollars
Investment management firm GEM has secured 685 million dollars in commitments for its second fund focused on lower middle market private equity.
FTMQ Startups, written by our newsroom0 views
Investment management firm GEM has completed the final closing of GEM Independent Sponsors Fund II, raising 685 million dollars in total commitments. Citybiz, Pulse 2.0, and Yahoo Finance all reported that the vehicle reached its hard cap. The firm is headquartered in Charlotte, North Carolina. [1][2][3]
The 685 million dollar fund exceeds GEM's previous fundraise, citybiz reported. According to Pulse 2.0, the capital will be used to expand the firm's private equity investments in the lower middle market. [1][2]
The fund received commitments from a diversified group of institutional investors, Pulse 2.0 reported. These limited partners include foundations, healthcare institutions, and insurance companies. [2]
In short
- GEM raised 685 million dollars for its second independent sponsors fund.
- The fund reached its hard cap and exceeded the firm's previous fundraise.
- Investors in the fund include foundations, healthcare institutions, and insurance companies.
- GEM is based in Charlotte, North Carolina, and targets lower middle market investments.
Sources
Every paragraph above points to the numbered items it rests on. Read the originals here.
- [1]GEM Raises $685M for Second Independent Sponsors Fund, Exceeding Previous Fundraisecitybiz, 9h ago (the report this story comes from)
- [2]GEM Closes $685 Million Independent Sponsors Fund II To Expand Lower Middle Market Private Equity InvestmentsPulse 2.0, 4h ago
- [3]GEM Closes on $685 Million in New Capital for Independent Sponsor ProgramYahoo Finance, 11h ago
Background
- [4]Donor-advised fund on Wikipedia
- [5]Super PAC on Wikipedia
- [6]G.E.M. on Wikipedia
Our newsroom writes these reports with the help of software, from the 6 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.
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