The Gores Group, LLC is a private equity firm specializing in acquiring and partnering with mature and growing businesses. The company was founded in 1987 by its CEO and chairman, Alec E. Gores .
58-689: Headquartered in Beverly Hills , California, with an office in Boulder, Colorado , and is investing from Gores Capital Partners III, L.P. and Gores Small Capitalization Partners, L.P., which have approximately $ 1.5 billion and $ 300 million in capital commitments, respectively. Since 1987, Gores has successfully acquired and operated more than 80 companies. The company's portfolio as of 2021, includes technology, telecommunications, business services, industrial, media and entertainment and consumer products companies. In 1978, Alec Gores founded Executive Business Systems,
116-822: A 1991 study by the Los Angeles Department of Transportation , this and the nearby intersection of Wilshire and Veteran are among the busiest in Los Angeles. The B and D subway lines of the Los Angeles Metro Rail run along Wilshire Boulevard from just past the 7th Street/Metro Center before serving the Westlake/;MacArthur Park and Wilshire/Vermont stations, where the D Line continues along Wilshire Boulevardto serve two stations at Wilshire/Normandie and at Wilshire/Western in Koreatown , while
174-411: A 2003 lawsuit representing former attendees of Beverly Hills High School, approximately 280 of which having suffered from cancers allegedly tied to the drilling operations. The oil site on the high school grounds is in the process of being shut down. According to the city's 2015 Comprehensive Annual Financial Report, the top employers in the city were: Beverly Hills is a general law city governed by
232-547: A block south of Sixth Street to its terminus. Wilshire Boulevard is densely developed throughout most of its span, connecting five of Los Angeles's major business districts and Beverly Hills. Many of the post-1956 skyscrapers in Los Angeles are located along Wilshire; for example, the Wilshire Grand Center , the tallest building in California, sits at the intersection of Figueroa Street . One Wilshire , built in 1966 at
290-511: A developer, publisher, and revolutionary who made and lost fortunes in real estate , farming , and gold mining , donated land to the City of Los Angeles for a boulevard stretching westward from a tract of luxury homes he was developing in Westlake Park (today's MacArthur Park). His conditions for the donation of the 120 ft (37 m) wide by 1,200 ft (370 m) long strip of land along
348-470: A female householder with no husband present, and 45.0% were non-families. 38.2% of all households were made up of individuals, and 11.3% had someone living alone who was 65 years of age or older. The average household size was 2.24 and the average family size was 3.02. In the city, the population was spread out, with 20.0% under the age of 18, 6.3% from 18 to 24, 29.3% from 25 to 44, 26.8% from 45 to 64, and 17.6% who were 65 years of age or older. The median age
406-454: A five-member city council , including the mayor and vice mayor. The city council hires a city manager to carry out policies and serve as executive officer. Until 2017, every odd-numbered year, either two or three members were elected for four-year terms. However, in 2017, the council changed its cycle to conform with statewide elections; the first such election was held in March 2020. Each April,
464-626: A hardware and software distributor, which he sold eight years later to establish what has become the Gores Group today. Gores closed its first institutional private equity fund , Gores Capital Partners, L.P., in November 2003 with $ 400 million of committed capital. The firm's second fund, Gores Capital Partners II, L.P. held a final closing in June 2007 with $ 1.3 billion of committed capital. Current (2024) Select Exited Beginning in 2015, Gores Holdings
522-489: A population of 34,109. The population density was 5,973.1 inhabitants per square mile (2,306.2/km ). The racial makeup of Beverly Hills was 28,112 (82.4%) White (78.6% Non-Hispanic White), 746 (2.2%) African American , 48 (0.1%) Native American , 3,032 (8.9%) Asian , 12 (0.0%) Pacific Islander , 485 (1.4%) from other races , and 1,674 (4.9%) from two or more races. Hispanic or Latino of any race were 1,941 persons (5.7%). The Census reported that 33,988 people (99.6% of
580-536: A retail and dining hub attracting locals, and in some sections attracting visitors from across the region and the world. South Beverly Drive, i.e. south of Wilshire Blvd., is another dining and shopping hub. Houses south of Wilshire Boulevard have more urban square and rectangular lots, in general smaller than those to the north. There are also more apartment buildings south of Wilshire Boulevard than anywhere else in Beverly Hills. Beverly Hills Post Office (BHPO)
638-466: A series of skyscrapers, along with many historic Los Angeles hotels. Wilshire Boulevard is also the principal street of Koreatown , the site of many of Los Angeles' oldest buildings and skyscrapers. Koreatown and Mid-Wilshire are among Los Angeles's most densely populated districts. Wilshire Boulevard originated as one of the central pathways constructed by the Tongva tribes residing in the region prior to
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#1732852375990696-443: Is a designated historical landmark. In the early 1930s, Santa Monica Park was renamed Beverly Gardens and was extended to span the entire two-mile (3-kilometer) length of Santa Monica Boulevard through the city. The Electric Fountain marks the corner of Santa Monica Blvd. and Wilshire Blvd. with a small sculpture at the top of a Tongva kneeling in prayer. In April 1931, the new Italian Renaissance -style Beverly Hills City Hall
754-462: Is expected to be completed in 2026. Phase 3 of the D Line extension, when fully completed, will extend to UCLA and Westwood/VA Hospital, and will follow Wilshire Boulevard for most of its route. That part will be completed in 2027 in time for the 2028 Summer Olympics held in Los Angeles, as the Westwood/UCLA station will serve multiple sporting venues. Phase four to downtown Santa Monica is still in
812-925: Is the name given to a section directly north of the Beverly Hills city limits that lies within the 90210 ZIP code, assigned to the Beverly Hills Post Office, but is part of the City of Los Angeles. Along with the Los Angeles communities of Bel-Air and Brentwood , Beverly Hills is one of the "Three Bs", a wealthy area in the Los Angeles Westside . Beverly Hills has a warm Mediterranean climate and receives an average 15 inches (380 mm) of rain per year. Summers are marked by warm to hot temperatures with very little wind, while winters are mild to moderate, with occasional rain alternating with periods of Santa Ana winds . Measurable snowfall has been recorded only in 1882, 1922, 1932, 1949 and 1958. The 2010 United States Census reported that Beverly Hills had
870-540: The Beverly Wilshire Apartment Hotel (now the Beverly Wilshire Hotel) opened on Wilshire Boulevard between El Camino and Rodeo drives, part of the old Beverly Hills Speedway . That same year, oilman Edward L. Doheny finished construction of Greystone Mansion , a 55-room mansion meant as a wedding present for his son Edward L. Doheny Jr. The house is now owned by the city of Beverly Hills and
928-468: The MacArthur Park lake, but in 1934 a berm was built for it to cross and link up with the existing Orange Street (which ran from Figueroa to Alvarado) into downtown Los Angeles. Orange Street was renamed Wilshire and extended east of Figueroa to Grand. This divided the lake into two halves; the northern half was later drained. The Wilshire Boulevard home of J. Paul Getty was used as the film set for
986-562: The poverty line , including 9.5% of those under the age of 18 and 7.9% ages 65 or older. Beverly Hills is home to one Fortune 500 company, Live Nation Entertainment . Since August 22, 2011, the headquarters of Metro-Goldwyn-Mayer has been located in Beverly Hills after a significant film history established close by on the main original studio lots in Culver City. The talent agencies United Talent Agency , William Morris Endeavor , Paradigm Talent Agency , The Gersh Agency , and Agency for
1044-519: The "flats" of Beverly Hills, which is a relatively flat area that slopes away from the hills, and includes all of Beverly Hills south of Sunset Boulevard and north of Santa Monica Boulevard . This area includes Wallis Annenberg Center for the Performing Arts . In a triangle between Santa Monica Bl., Wilshire Bl. and Crescent Drive is Downtown Beverly Hills also known as the Golden Triangle ,
1102-456: The 1950 film Sunset Boulevard : it was demolished in 1957. All of the boulevard is at least four lanes in width, and most of the portion between Hoover Street and Robertson Boulevard has a raised center median. The widest portion of the boulevard is located in the business district of central Westwood , where mobs of pedestrians crossing Wilshire at Westwood Boulevard must traverse ten lanes (including two left-turn pockets). According to
1160-458: The 35 acres (14 ha) barley field he was subdividing were that it be named for him and that railroad lines and commercial or industrial trucking would be banned. The road first appeared on a map under its present name in 1895. A historic apartment building on the corner of Wilshire Boulevard and South Kenmore Avenue, the Gaylord, carries his middle name. Wilshire Boulevard formerly ended at
1218-660: The Amalgamated Oil Company, bought the Hammel and Denker ranch, and began looking for oil. They did not find enough to exploit commercially by the standards of the time, though. In 1906, therefore, they reorganized as the Rodeo Land and Water Company, renamed the property "Beverly Hills", subdivided it, and began selling lots. The development was named "Beverly Hills" after Beverly Farms in Beverly, Massachusetts , and because of
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#17328523759901276-595: The B Line branches off north along Vermont Avenue to eventually terminate in North Hollywood . The construction of the future D Line Extension along Wilshire Boulevard commenced in November 2014. The construction timeline would see the project from the existing Wilshire/Western station to the planned Wilshire/La Cienega station on the corner of Wilshire and La Cienega Boulevard, to be completed by 2025. The second phase got officially under way on February 23, 2018 from Wilshire/La Cienega to Century City Station, and it
1334-535: The City of Beverly Hills received the Livability Award from the United States Conference of Mayors for its Ambassador Program, which takes care of the city's homeless population. The Beverly Hills Community Dog Park was dedicated on September 6, 2016. Beverly Hills and the neighboring city of West Hollywood are together entirely surrounded by the city of Los Angeles. Beverly Hills is bordered on
1392-422: The Performing Arts are based in Beverly Hills. Hilton Hotels Corporation formerly had its corporate headquarters in Beverly Hills. The original headquarters of GeoCities (at first Beverly Hills Internet) was at 9401 Wilshire Boulevard in Beverly Hills. The large Beverly Hills Oil Field has four urban drilling islands, which drill diagonally into the earth underneath the city. One drilling island occasioned
1450-529: The Spanish settlements of Los Angeles, much of the length of Wilshire Boulevard can be traced back to the indigenous Tongva people who used it to bring back tar from the La Brea pits in today's Miracle Mile section of Wilshire Blvd, back to their settlement on the coast. This road was later used by Spanish explorers and settlers, calling it El Camino Viejo ('The Old Road'). The route that ultimately became Wilshire crossed
1508-644: The area. The city is well known for its Rodeo Drive shopping district that includes many designer brands. Throughout its history, the city has been home to many celebrities . It is noted for numerous hotels and resorts , including the Beverly Hilton and the Beverly Hills Hotel . The city has been featured in many movies, television series , music , and media , in the United States and internationally. After its initial settlement in 1828, Beverly Hills
1566-532: The city council meets and chooses one of its members as mayor and one as vice-mayor. As of April 2024, Lester Friedman is mayor, Sharona Nazarian is vice mayor, and John Mirisch , Craig Corman, and Mary Wells are councilmembers. Nancy Hunt-Coffey serves as city manager. Wilshire Boulevard Wilshire Boulevard (['wɪɫ.ʃɚ]) is a prominent 15.83 mi (25.48 km) boulevard in the Los Angeles area of Southern California , extending from Ocean Avenue in
1624-464: The city of Santa Monica east to Grand Avenue in the Financial District of downtown Los Angeles . One of the principal east–west arterial roads of Los Angeles, it is also one of the major city streets through the city of Beverly Hills . Wilshire Boulevard runs roughly parallel to Santa Monica Boulevard from Santa Monica to the west boundary of Beverly Hills. From the east boundary, it runs
1682-402: The city was 85.06% White , 1.77% African American , 0.13% Native American , 7.05% Asian , 0.03% Pacific Islander , 1.50% from other races , and 4.46% from two or more races. Hispanic or Latino of any race were 4.63% of the population. There were 15,035 households, out of which 24.4% had children under the age of 18 living with them, 43.8% were married couples living together, 8.1% had
1740-590: The east, between Highland Avenue and Wilton Place, is referred to as the Park Mile. Between Westwood and Holmby Hills, several tall glitzy condominium buildings overlook this part of Wilshire, which is variously referred to as Millionaire's Mile, the Wilshire Corridor, and Condo Canyon. The Wilshire Corridor, located next to Century City , is one of Los Angeles's busiest districts, and contains many high-rise residential towers. The Fox and MGM studios are located in
1798-460: The exploration of the conquistadores. At the time of the founding of Los Angeles, Wilshire Boulevard was one of the main arteries connecting the largest Tongva village in the area, then known as Yaanga , which eventually became Union Station, to the Pacific Ocean. From the founding of Los Angeles through nearly all of the 1800s, Wilshire Boulevard was known as "Calle de los Indios." Before
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1856-637: The grounds of the Doheny Ranch and developed it into the Trousdale Estates , convincing the city of Beverly Hills to annex it. The neighborhood has been home to Elvis Presley , Frank Sinatra , Dean Martin , Tony Curtis , Ray Charles , President Richard Nixon , as well as, in later years, Jennifer Aniston , David Spade , Vera Wang and John Rich . Following the 1979 Islamic Revolution in Iran , many Persian Jews settled in Beverly Hills. In
1914-542: The hills in the area. The Los Angeles Times reported on September 2, 1906: Percy H. Clark Company are managing the development of the foothill portion of the Hammel & Denker ranch for the Rodeo Land and Water Company (the Canfield-Huntington-Kerckhoff syndicate), to be known as Beverly Hills. No expense is being spared to make this a fine suburban district. . . . The property has been laid out on beautiful curved lines. The first house in
1972-525: The junction of Wilshire and Grand, is said to be "the main hub of the internet for the entire Pacific Rim" because so many telecommunications companies rent space there. Aon Center , Los Angeles' third-largest tower, is at 707 Wilshire Boulevard in downtown Los Angeles. The stretch of the boulevard between Fairfax and Highland Avenues , known as the Miracle Mile , is home to many of Los Angeles's largest museums and cultural institutions. The area just to
2030-590: The late 1990s, the Los Angeles County Metropolitan Transportation Authority (LACMTA) proposed to build an extension of the Metro D Line along Wilshire Boulevard and into Downtown Beverly Hills, but the city had opposed it. The D Line Extension will ultimately be completed by 2027 and will include a station at Wilshire Blvd and Rodeo Drive . In 2001, LACMTA then proposed a bus rapid transit route down Santa Monica Blvd., but this
2088-553: The latter in partnership with Guggenheim Partners . Beverly Hills Beverly Hills is a city located in Los Angeles County, California , United States. A notable and historic suburb of Los Angeles , it is located just southwest of the Hollywood Hills , approximately 12.2 miles (19.6 km) northwest of downtown Los Angeles . Beverly Hills' land area totals 5.71 square miles (14.8 km ) and (together with
2146-667: The midst of the 2015 drought , Beverly Hills was found to be one of the largest water consumers in California. As a result, it was asked by the state to reduce consumption by 36%, prompting many residents to replace their lawns with native plants . Meanwhile, the city government replaced the grass in front of the City Hall with Mexican sage . In September 2015, the City of Beverly Hills signed an agreement with Israel to work together on water use as well as "cybersecurity, public health, emergency services, disaster preparedness, public safety, counterterrorism and art and culture". In July 2016,
2204-499: The neighboring smaller city of West Hollywood to the east) is entirely surrounded by the city of Los Angeles . According to the 2020 census , the city has a population of 32,701, marking a decrease of 1,408 from the 2010 census count of 34,109. In American popular culture , Beverly Hills has been known primarily as an affluent location within Greater Los Angeles, which corresponds to higher property values and taxes in
2262-777: The northwest by the Los Angeles neighborhood of Bel-Air and the Santa Monica Mountains , on the east by West Hollywood, the Carthay neighborhood of Los Angeles, and the Fairfax District of Los Angeles, and on the south by the Beverlywood neighborhood of Los Angeles. The area's " Platinum Triangle " is formed by the city of Beverly Hills and the Los Angeles neighborhoods of Bel Air and Holmby Hills . The ZIP codes for Beverly Hills are 90209 (P.O. boxes only), 90210, 90211, 90212, and 90213 (P.O. boxes only). Most residents live in
2320-475: The original pueblo of Los Angeles and five of the original Spanish land grants, or ranchos . Wilshire was pieced together from various streets over several decades. It began in the 1870s as Nevada Avenue in Santa Monica, and in the 1880s as Orange Street between Westlake (now MacArthur) Park and downtown. Nevada and Orange were later renamed as parts of Wilshire. In 1895, Henry Gaylord Wilshire (1861–1927),
2378-497: The planning stages and has no funding. Metro Local Line 20, Metro Rapid Line 720, and Santa Monica Transit Line 2 operate along Wilshire Boulevard. Due to the high ridership of line 720, 60-foot (18 m) NABI & New Flyer articulated buses are used on this route, and bus lanes are in place along some segments of the line. The aging sections of Wilshire Boulevard in the city of Los Angeles are notorious for their giant potholes . Wilshire Boulevard runs through or near
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2436-644: The population) lived in households, 121 (0.4%) lived in non-institutionalized group quarters, and 0 (0%) were institutionalized. There were 14,869 households, out of which 3,759 (25.3%) had children under the age of 18 living in them, 6,613 (44.5%) were opposite-sex married couples living together, 1,354 (9.1%) had a female householder with no husband present, 494 (3.3%) had a male householder with no wife present. There were 460 (3.1%) unmarried opposite-sex partnerships , and 131 (0.9%) same-sex married couples or partnerships . 5,400 households (36.3%) were made up of individuals, and 1,834 (12.3%) had someone living alone who
2494-553: The population) lived in owner-occupied housing units and 16,248 people (47.6%) lived in rental housing units. During 2009–2013, Beverly Hills had a median household income of $ 86,141, with 8.8% of the population living below the federal poverty line. As of the census of 2000, there were 33,784 people, 15,035 households, and 8,269 families residing in the city. The population density was 5,954.0 inhabitants per square mile (2,298.9/km ). There were 15,856 housing units at an average density of 2,794.4/mi (1,079.7/km ). The racial makeup of
2552-539: The present-day route of Wilshire Boulevard . The area was settled by Californio ranchera María Rita Quinteros de Valdez and her husband in 1828. They called their 4,500 acres (18 km ) of property the Rancho Rodeo de las Aguas . In 1854, she sold the ranch to Benjamin Davis Wilson (1811–1878) and Henry Hancock (1822–1883). By the 1880s, the ranch had been subdivided into parcels of 75 acres (0.30 km ) and
2610-474: The subdivision was built in 1907, but sales remained slow. Beverly Hills was one of many all-white planned communities started in the Los Angeles area around this time. Restrictive covenants prohibited non-whites from owning or renting property, unless they were employed as servants by white residents. It was also forbidden to sell or rent property to Jews in Beverly Hills. Burton Green began construction on The Beverly Hills Hotel in 1911. The hotel
2668-454: The utilities-related assets from the Rodeo Land and Water Company. In 1919, Douglas Fairbanks and Mary Pickford bought land on Summit Drive and built a mansion, finished in 1921 and nicknamed " Pickfair " by the press. The glamour associated with Fairbanks and Pickford as well as other movie stars who built mansions in the city contributed to its growing appeal. By the early 1920s, the population of Beverly Hills had grown enough to make
2726-431: The water supply a political issue. In 1923, the usual solution, annexation to the city of Los Angeles, was proposed. There was considerable opposition to annexation among such famous residents as Pickford, Fairbanks, Will Rogers and Rudolph Valentino . The Beverly Hills Utility Commission, opposed to annexation as well, managed to force the city into a special election and the plan was defeated 337 to 507. In 1928,
2784-661: Was Harold Lloyd , the silent film star. The NAACP participated in the defense, which was successful. In his decision, federal judge Thurmond Clarke said that it was time that "members of the Negro race are accorded, without reservations or evasions, the full rights guaranteed to them under the 14th amendment." The United States Supreme Court declared restrictive covenants unenforceable in 1948 in Shelley v. Kraemer . A group of Jewish residents of Beverly Hills filed an amicus brief in this case. In 1956, Paul Trousdale (1915–1990) purchased
2842-407: Was 41 years. For every 100 females, there were 83.5 males. For every 100 females age 18 and over, there were 79.4 males. The median income for a household in the city was $ 70,945, and the median income for a family was $ 102,611. Males had a median income of $ 72,004 versus $ 46,217 for females. The per capita income for the city was $ 65,507. About 7.9% of families and 9.1% of the population were below
2900-421: Was 43.6 years. For every 100 females, there were 84.3 males. For every 100 females age 18 and over, there were 80.3 males. There were 16,394 housing units at an average density of 2,870.9 units per square mile (1,108.5 units/km ), of which 6,561 (44.1%) were owner-occupied, and 8,308 (55.9%) were occupied by renters. The homeowner vacancy rate was 2.2%; the rental vacancy rate was 8.0%. 17,740 people (52.0% of
2958-417: Was 65 years of age or older. The average household size was 2.29. There were 8,461 families (56.9% of all households); the average family size was 3.05. The population was spread out, with 6,623 people (19.4%) under the age of 18, 2,526 people (7.4%) aged 18 to 24, 8,540 people (25.0%) aged 25 to 44, 9,904 people (29.0%) aged 45 to 64, and 6,516 people (19.1%) who were 65 years of age or older. The median age
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#17328523759903016-414: Was also opposed by the city and never built. This stretch of road is served by less efficient Metro Rapid buses using pre-existing roadways. By 2010, traffic in Beverly Hills and surrounding areas had deteriorated enough that the city's habitual opposition had largely turned to support for subways within the city limits. As part of the D Line Extension project, the D Line of the Los Angeles Metro Rail
3074-776: Was announced, specializing in special-purpose acquisition companies (SPACs). It was credited with starting the SPAC revival with their first SPAC transaction in Hostess Brands . Gores is considered one of the most prolific investors in the SPAC space, having created 13 SPACs, more than any other single investor, and The Gores Group is considered a premier SPAC sponsor. Gores announced or completed more than seven SPAC transactions representing over $ 36 billion in transaction value. Gores launched Gores Holdings VII and Gores Holdings VIII in 2021, and publicly filed for Gores Technology Partners and Gores Technology Partners II, as well as Gores Guggenheim,
3132-560: Was being rapidly bought up by Anglos from Los Angeles and the East coast. Henry Hammel and Andrew H. Denker acquired most of it and used it for farming lima beans. At this point, the area was known as the Hammel and Denker Ranch. By 1888, they were planning to build a town called Morocco on their holdings. In 1900, Burton E. Green , Charles A. Canfield , Max Whittier , Frank H. Buck , Henry E. Huntington , William G. Kerckhoff , William F. Herrin , W.S. Porter, and Frank H. Balch formed
3190-494: Was finished in 1912. The visitors drawn by the hotel were inclined to purchase land in Beverly Hills, and by 1914 the population had grown enough to qualify for incorporation as an independent city. That same year, the Rodeo Land and Water Company decided to separate its water business from its real estate business. The Beverly Hills Utility Commission was split off from the land company and incorporated in September 1914, buying all of
3248-409: Was intended in 2013 to be extended through Beverly Hills, adding two underground stations at Wilshire/La Cienega and Wilshire/Rodeo by the 2020s. The city of Beverly Hills widely opposed Proposition 8 , the 2008 ballot measure which repealed legal recognition of same-sex marriages. The proposition narrowly passed statewide, but in Beverly Hills, only 34% voted in favor, and 66% voted against it. In
3306-412: Was opened. In the early 1940s, black actors and businessmen had begun to move into Beverly Hills, despite the covenants allowing only whites to live in the city. A neighborhood improvement association attempted to enforce the covenant in court. The defendants included prominent artists Hattie McDaniel , Louise Beavers , and Ethel Waters . Among the white residents supporting the lawsuit against blacks
3364-464: Was originally a primarily agricultural community centered around Rancho Rodeo de las Aguas , a Mexican era rancho grant . Beverly Hills was first incorporated as a city in September 1914 by a group of investors who had failed to find oil but found water instead and eventually decided to develop it into a town. Gaspar de Portolá arrived in the area that would later become Beverly Hills on August 3, 1769, traveling along native trails which followed
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