Shamrock Capital Group, a private equity firm that was originally founded as a family office for Roy E. Disney, later today will announce that it has raised $700 million for its fourth flagship fund.
Los Angeles-based Shamrock focuses primarily on buyouts and growth equity investments for media, entertainment and communications businesses. Current Shamrock portfolio companies include FanDuel, Recorded Books and Screenvision, while past investments have included the Harlem Globetrotters, Learfield Communications and RealD (RLD).
“Around two-thirds of our deals over time have been for control positions, but we’re agnostic when it comes to majority versus minority ownership,” says Steve Royer, a partner with Shamrock since 1998. “Even when we take minority positions, we’re not passive investors.”
Shamrock previously raised $400 million for its third flagship fund, with Royer saying that the step-up is intended to reduce the need for co-investments. “It just gives us a little more flexibility to do the same types of deals,” he explains.
No investor information was disclosed, except Royer confirmed that the Disney family is no longer a limited partner.
In conjunction with the fund close, Shamrock has made three promotions: Alan Resnikoff to partner, Laura Held to principal and Bhuvan Jain to vice president.