GI hits US$1.9bn

California and London-based GI Partners has held the third closing of its GI Partners Fund III on US$1.9bn, having launched the fund less than a year ago.

With support from a number of new institutional investors, the latest fund is more than 35% larger than the previous fund, which closed on US$1.45bn. GI Partners III will invest in distressed businesses in Western Europe and North America.