Gores Closes $300M Fund Targeting Lower Middle Market

The Gores Group has closed its fourth private equity fund, Gores Small Capitalization Partners, at its target and hard cap of $300 million. The new fund will target lower middle-market businesses and be led by managing directors Ashley Abdo, Victor C. Otley, Catherine Scanlon and Michael Nold. Lazard and Weil, Gotshal & Manges served as financial advisor and counsel for the fund, respectively. The Gores Group's current flagship fund, Gores Capital Partners III (which closed on over $2 billion), will co-invest $100 million alongside the fund.