TA Associates has held a first, final, and hard cap closing of its thirteenth fund, TA XIII LP, with total capital commitments of $8.5 billion. TA began raising the new fund during the first quarter of 2019.
TA XIII received commitments from a group of largely existing investors, including public pension plans, sovereign wealth funds, foundations and endowments.
As with its previously raised equity funds, TA XIII will make equity investments of $75 million to $500 million in middle-market growth companies, primarily in opportunities originated and led exclusively by TA. Sectors of interest continue to be technology, healthcare, financial services, consumer and business services. TA expects to begin investing capital from TA XIII during the second half of 2019.
“We are grateful and humbled to have received such a high level of interest in our latest flagship fund,” said Brian Conway, chairman and managing partner at TA. “We sincerely thank our existing and new limited partners for their enthusiastic affirmation of TA Associates’ strategy and culture.”
TA XIII follows TA XII LP, a $5.3 billion private equity fund that began investing in March 2016, and TA Atlantic and Pacific VII LP, a $1.4 billion private equity fund that began investing in January 2014.
“TA XIII will build on our existing strategy of providing transformational capital and strategic resources to great businesses and management teams across the globe,” added Ajit Nedungadi, a managing partner at TA based in London. “We look forward to investing the fund to help companies accelerate growth and deliver compelling investment performance for our investors.”
Since founding in 1968, TA has invested in over 500 companies globally and has raised more than $32 billion in capital. The firm has more than 85 investment professionals with offices in Boston, Menlo Park, London, Mumbai and Hong Kong (www.ta.com).
Goodwin Procter (www.goodwinlaw.com) provided legal services to TA on this fundraise.
© 2019 Private Equity Professional | May 7, 2019
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