GI Partners has closed the firm's latest fund raise, GI Partners Fund V, at $2.3 billion. Fund V will target North American businesses across the IT infrastructure, healthcare and software sectors.

“We are excited to further build our investment portfolio from the attractive pipeline of investment opportunities we have identified," says GI Partners founder Rick Magnuson. Fund V will deals between $250 million and $1 billion in enterprise value. In August, GI-Partners-backed Peak 10 purchased data center operator ViaWest from Shaw Communications Inc. (NYSE: SJR). GI Partners is a San Francisco-based PE firm with nearly 15 years of experience investing in data centers, carrier hotels and other tech-focused real estate.

Other middle-market fund raises include: Blue Wolf Capital Partners LLC’s closing a $540 million PE fund; Private Advisors’ raising the firm’s seventh small business PE fund; Saw Mill Capital’s closing of a new investment fund with $340 million in commitments; Industrial Opportunity Partner’s (IOP) raising its third fund with $450 million; Platte River Equity'sclosing the firm’s fourth fundraise; CVC Capital Partners’ $18 billion fund to target U.S. and European investments; the Riverside Co.’s first minority investment fund in April 2017.

UBS Securities LLC served as placement agent and Kirkland & Ellis LP served as legal adviser to GI Partners.

Peak 10

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Demitri Diakantonis

Demitri Diakantonis

Demitri Diakantonis joined SourceMedia in 2015 and serves as Managing Editor of Mergers & Acquisitions. He covers all aspects of middle-market deamaking, with a focus on strategic buyers and the consumer and retail sectors, and writes The Buyside column.