Olympus Partners has formed a $1.5 billion private equity fund, its fifth since a former General Electric Co. executive established Olympus in 1988.
The Stamford firm also has sold its stake in two companies this year and purchased another.
In May, it sold insurance underwriter Talbot Holdings Ltd. to Validus Holdings Ltd. for an undisclosed amount, with both firms based in Bermuda. In January, Olympus divested its shares of Cleveland-based TravelCenters of America Inc. for $1.9 billion to Hospitality Properties Trust, a real estate investment trust in Newton, Mass.
Also that month, Olympus spent $296 million to acquire WII Components Inc., a St. Cloud, Minn., maker of wood doors.
Olympus”™ lone local portfolio company is Danbury-based Shemin Nurseries Inc., which runs a chain of landscaper supply stores, primarily in the East.
Olympus was founded by managing partner Robert Morris, who previously had oversight for investments by General Electric”™s pension trust.
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