|
Laxman Pai, Opalesque Asia: New York-based Insight Partners announced the final close of a massive $9.5 billion for its newest and largest private-equity fund, despite the economic uncertainty created by the coronavirus pandemic.
According to the global venture capital and private equity firm, the growth equity fund, dubbed Fund XI, enhances the firm's capacity to invest in leading high potential software companies.
Technology-focused Insight began marketing the fund, Insight Partners XI, last fall before the pandemic hit the U.S. but only closed the fund last week, said Deven Parekh, an Insight managing director.
Jeff Horing, Insight Partners' founder and managing director, acknowledged in a statement the effects of the current climate "and the hardships being felt across the globe" due to the COVID-19 pandemic.
"We are thankful and humbled by the support of our investors which enables us to continue to deliver world class resources during turbulent economic times," he added.
The fund closed receiving strong support from Insight's long-standing investors, as well as notable new investors. Investors in Fund XI include New York State Common Retirement Fund, Albany, Washington State Investment Board, Olympi, Texas Teacher Retirement System, Austin, Pennsylvania Public School Employees' Retirement System, Harrisburg, Texas Municipal Retirement System, Austin, Pennsylvania State Employees' Retirement System, Harrisburg, San Francisco City & County Em...................... To view our full article Click here
|
RSS
