CHICAGO–PPM America, Inc.’s private equity arm, PPM America Capital Partners 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.