Kirkland & Ellis LLP advised OpenGate Capital, a global private equity firm, which announced yesterday that it has reached the final closing of its first institutional private equity vehicle, exceeding its target of $300 million. OpenGate Capital Partners I, LP, and affiliated partnerships, closed on $305 million in total commitments.
OpenGate Capital has already completed four investments in the first half of 2016. It has signed an agreement for a fifth, due to close later in the year. The firm will continue its legacy of investing in lower middle market, cross border, corporate carve-outs and applying operational turnaround strategies to create value.
Kirkland & Ellis investment funds partners Bruce Ettelson and Karin Orsic led the team, which included investment funds associates Laura Stake and Brian Delaney and tax partner Donald Rocap.
Kirkland & Ellis is a global leader in providing sophisticated advice to private investment fund sponsors and select institutional investors with respect to all major alternative investment strategies. In the past three years alone, Kirkland has advised 280 private investment fund sponsors, raising more than 380 funds and representing more than $305 billion of capital commitments.