Firms & Funds

Gallant, launched by ex-Gores execs, holds first close on debut

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Gallant Capital Partners, Gores Group, private equity
A trader shows U.S. dollar notes at a currency-exchange booth in Karachi, Pakistan, on Dec. 3, 2018. REUTERS/Akhtar Soomro
  • Held first close in November
  • Expanded team from 2 founders to eight employees
  • Founders formerly worked at Gores Group

Gallant Capital Partners, launched last year by two former Gores Group executives, raised about $115 million and held a first close on its debut fund in November, sources told Buyouts.

The firm is targeting $300 million for its debut fund, launched early last year and focused on investments in lower-middle-market complex situations and carveouts.

Park Hill Group is placement agent on the fundraising.

As it raises capital, the firm has expanded from its two founding partners, Anthony Guagliano and Jon Gimbel, to a total of eight employees.

Gallant hired ex-OpenGate Capital Managing Director Desmond Nugent in August as partner and head of operations. The firm also hired former EQT executive Chris Suen, and Amish Tolia, former head of sales and business development at Peloton Document Solutions, as vice presidents.

Gimbel, who was managing director on Gores’s small-cap team, and Guagliano, a former managing director at Gores, formed Gallant in partnership with Alec Gores.

Alec Gores committed to the fund and has a minority stake in the management company, Buyouts reported.  

Action Item: Check out Gallant’s Form ADV here: https://bit.ly/2TlRuvp