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Laxman Pai, Opalesque Asia: Pamlico Capital, a lower- to middle-market private equity firm based in Charlotte, closed its Pamlico Capital V (PC V) fund with $1.4 billion in commitments.
The North American private equity firm said that the fund exceeded its original $1.25 billion target.
Commitments to PC V came from a diverse group of global investors comprised of leading funds of funds, insurance companies, corporate and foreign pension funds, endowments, foundations and family offices.
Investors include the $32.1 billion Texas County & District Retirement System, Austin.
The fund seeks North American investments in the business and technology services, communications and health-care sectors. The prior fund, Pamlico Capital IV, closed at $910 million in 2016.
"Pamlico is proud to have partnered with such a distinguished group of limited partners and to have raised over $4.3 billion in aggregate commitments since 2002," ti said in a press note.
Pamlico Partner Art Roselle said: "PC V will continue our history of partnering with talented managers, often as a company's first institutional investor, to accelerate growth and ultimately build industry-leading businesses. We remain focused on pursuing the strategies that have made us successful over time, which include a commitment to the lower middle market and our three core industry verticals, along with continuous investment in value creation capabilities that support our portfolio company managers."
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