Partnership to develop defense ventures

July 22, 2008 at 6:27 PM

LOS ANGELES, July 22 (UPI) -- The Gores Group, based in California, and the Four Star Group have formed a partnership to develop business ventures in defense and homeland security markets.

International private equity firm the Gores Group announced the partnership with the Four Star Group will bring together five former U.S. military generals along with business executives in a move to take advantage of aerospace, defense and homeland security business opportunities.

The joint venture was formed in what officials say is an effort to take advantage of the industry expertise with firsthand defense and security knowledge and contacts the partnership brings together.

"The Gores Group is ideal for our team to partner with," retired Gen. John Jumper, former chief of staff of the Air Force and member of the Joint Chiefs of Staff, said in a statement.

"The combination of their unique investment capability and operating expertise with our experience and vast network of contacts will enable us to take advantage of the numerous market opportunities available and produce significant results."

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