Gores Group Closes $2B Private Equity Fund

Los Angeles-based private equity firm The Gores Group said Wednesday that it has closed on Gores Capital Partners II, L.P., with commitments of $2 billion. The firm said that the new fund will acquire companies, primarily in the technology, telecommunications, business services, industrial, consumer, and healthcare sectors. The private equity firm said its commitments went beyond its original, $1.5 billion target. Gores Group is headed by Alec Gores, and was founded in 1987. The firm now has more than $4 billion under management.