GMT’s founders also established the first pan-European Communications fund, Baring Communications Equity Limited (BCEL). This makes GMT the longest-established private equity group focused on the Communications Industry in Europe. The partners pioneered this sector approach in Europe, and have been influential in developing and nurturing many successful emerging growth companies.
BCEL was established in 1993, with the support of London-based Baring Private Equity Partners, a global private equity firm and former member of ING Group, and US-based Communications Equity Associates, an investment banking and private equity firm. These origins reflect GMT’s global outlook on industry trends, investment methods, deal sourcing and access to capital from its earliest stage of development.
GMT's second fund, GMT Communications Partners II, LP (GMT II) closed in November 2000. The partners completed 24 investments in total across both funds, with 12 investments in each. GMT II is now fully invested and BCEL has been fully realised. GMT II's performance consistently ranks in the top quartile of European private equity funds.
GMT's third and current fund, GMT Communications Partners III, LP (GMT III) closed in July 2007. The partners have completed four investments to date in this fund: Asiakastieto in July 2006, Melita in July 2007, Primesight in October 2007 and Bigpoint in August 2008. GMT III completed the sale of its first investment, Asiakastieto, in May 2008.
Click here to see the press release on the exit.