Shamrock goes on fundraising spree

Roy Disney’s Shamrock Holdings investment arm has been active fundraising, having closed on $104m for an LA-focused real estate fund and seeking as much as $150m for an Israeli growth capital vehicle.

Burbank, California-based Shamrock Capital Advisors, the Roy Disney led private equity group, wrapped up a new $104 million (€87 million) real estate fund, and according to filings with the Securities and Exchange Commission, the firm is also currently out raising capital for a dedicated Israeli private equity fund.

Roy Disney, chairman, Shamrock Holdings

The real estate vehicle, Genesis LA Real Estate Fund II, is a follow-up to a similar fund raised in 2000 to invest in low- and moderate-income communities in Los Angeles, California. The first fund had $76 million of capital, and reportedly has invested in such property as studios, industrial parks, retail centres and malls. Mark Schaffer and Richard Gentilucci serve as managing directors of the fund, while Kip Hamilton and Dan Beaney work on the vehicle as well, according to the Shamrock Web site.

The firm’s Israeli fund, based on filings submitted to the SEC, is in the midst of fundraising, having closed on roughly $68 million of a targeted $150 million for its Shamrock Israel Growth Fund, LP.

The firm had previously invested in Israel out of its $170 million Shamrock Capital Growth Fund, according to a 2002 story in the Jerusalem Post, which specified the firm had allocated $65 million to the region.

The new fund, if it reaches its $150 million target, represents a more than two-fold increase toward Israel investments, although the firm has been investing in the region for over 15 years. Past investments include deals for Koor Industries, cellular phone company Pelephone Communications and software outfit Paradigm Geophysical.

The Israeli fund is led by Robert Moskowitz and Michael Geiger, who both serve as managing directors at Shamrock, while Ron Stern and Igal Litovsky also work on the fund, according to the firm’s Web site.

Shamrock’s domestic private equity vehicle, meanwhile, has been busy lately, with recent acquisitions of The Harlem Globetrotters and glossy magazine publisher Modern Luxury.

Calls to Shamrock were not returned by press time.