The new fund will make equity investments in 12 to 15 companies that are active in the technology, media, and telecommunications (TMT) sectors. Specifically, the fund will invest in cloud computing and SaaS companies, mobile platforms and services, and industrial technologies. The fund will consider both control and minority investments; buyouts and recapitalizations; and rollups and consolidations.
“The creation of this $1 billion dedicated TMT fund shows Pamplona’s intent to actively participate in the shifting landscape inherent in these industries. We believe we have assembled the expertise and capital resources to take advantage of a number of exciting opportunities,” said Pamplona Managing Partner John Halsted.
Justin Perreault, who joined Pamplona in December 2015 to make investments in technology sectors, will be a full-time partner in the TMT fund. Mr. Perreault has over twenty years of information technology investing and operating experience, and was previously a general partner at Commonwealth Capital Ventures. Pamplona’s TMT investing team is based in Boston.
Pamplona has also announced the appointment of two additional partners to co-manage the fund, Darren Battistoni and Hiren Mankodi. Mr. Battistoni joins Pamplona from Welsh, Carson, Anderson & Stowe where he was a member of the technology investment team for eleven years and worked on a number of investments in the internet infrastructure, SaaS and cyber security sectors. Mr. Mankodi joins Pamplona from Audax Group where he led investments in information technology, software, and industrial technology companies over the course of his twelve years with that firm.
The TMT fund already has its first portfolio company. Yesterday, Pamplona announced that it had completed a $50 million growth equity investment in Dyn, a provider of cloud-based Internet performance management services based in Manchester, NH (www.dyn.com).
Pamplona makes direct private equity, fund of hedge funds, and single manager hedge fund investments. The firm was founded in 2005 and is based in London and New York (www.pamplonafunds.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 5-13-16