The first 10-figure private equity fund of 2017 is in the books, as Gamut Capital Management has closed its maiden vehicle on an even $1 billion. The firm plans to make investments between $50 million and $150 million in a range of sectors including agriculture, energy, logistics, chemicals and mining.
The fund exceeds an original $750 million target for Gamut, which was founded in 2015 by former Apollo Global Management senior partners Stan Parker and Jordan Zaken. Learn a little more about the story behind the firm’s founding right here.
Gamut’s fund is an auspicious start to the year for new PE fundraisers—a group that had a rather impressive 2016. For many founders at such firms, Parker and Zaken’s story of breaking off from an established shop to hang up their own shingle is representative. That includes management at Align Capital Partners, Strattam Capital and a few other standout debut fundraisers from last year.