The Gores Group has introduced a new $300m fund focused for lower middle market businesses that can gain from the company’s operationally-focused investment strategy.
The Westwood investment firm said that the fund, Gores Small Capitalization Partners will pursue companies below the target size of its $2bn flagship fund, Gores Capital Partners III.
Gores III will also co-invest $100m alongside the new fund to bolster Gores Small Cap’s investment power.
The Gores Group founder and chairman Alec Gores said the company believes that there are opportunities available at the lower end of the market that can benefit from the same operationally-focused investment strategy that it has employed over its 25 year history.
"We appreciate the continued strong support of our existing investors and look forward to a long-term partnership with the new investors who have joined us in this fund," Gores said.
The company said that the new fund will be jointly led by managing directors Ashley Abdo, Victor Otley, Catherine Scanlon and Michael Nold.