Shamrock Capital hits hard cap on sixth private equity fund despite slow fundraising market

• Shamrock Capital, a Los Angeles-based private equity firm with $6.6bn AUM which invests in the media, entertainment, content, communication, sports, marketing, and education sectors, has raised $1.6bn across two funds.

• Growth VI launched in Q1, hitting its hard cap of $1.25bn. Clover I raised roughly $320mn in six months, also over target. The fundraise achieved over 100% net dollar retention from existing limited partners in the predecessor flagship fund.

• Both funds will focus on buyouts and later-stage growth equity investments in middle-market companies. Growth VI will focus on investments of $45mn and over, and Clover I on smaller investments.

• Shamrock said that no investments have been made from either fund yet.

November 6, 2024 (Preqin News) – Private equity growth funds have raised $89.2bn over 202 funds so far in 2024. Overall, 1,682 private equity funds have raised $634.72bn in 2024 YTD, tracking below previous years. In comparison, 2021 was a record year, which saw 6,049 funds raise $1.11tn.

Private equity fundraising has fallen quarter on quarter since Q4 2023.

The average number of months to final close has increased as well, hitting 24 months this year, although months to final close have generally increased since the year 2000.

There are currently 12,368 private equity funds in market, targeting an aggregate of $1.52tn. Of this number, 1,437 are growth funds, targeting $306.9bn.

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