Shamrock raises $400 million

Sets fund to invest in media firms

Shamrock Capital Advisors has raised $400 million to invest in media, entertainment and communications companies, the company said Monday.

New fund, dubbed Shamrock Capital Growth Fund III, aims to commit $15 million-$75 million to deals that will involve both controlling and non-controlling stakes in companies.

Shamrock will focus largely on new-media platforms as well as traditional media, digital distribution and telco infrastructure.

Shamrock originally targeted the Capital Growth Fund to close at $350 million.

In conjunction with the closing, Michael LaSalle and Andy Howard join Steve Royer, Robert Perille and Will Wynperle as partners of Shamrock.

Howard previously served on the board of directors for RealD, in which the company made a minority investment in 2007. LaSalle, formerly an investment banker with mergers and acquisitions boutique Putnam Lovell Securities, joined Shamrock in 2000.

Partners and other investment professionals will manage the fund from a Los Angeles-based office.

Company is often noted for its majority investments in cinema advertising company Screenvision, made last year, and in the Harlem Globetrotters in 2005. In 2010, Shamrock officially separated from Shamrock Holdings Inc., the family firm for the late Roy E. Disney.

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