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Laxman Pai, Opalesque Asia: FTV Capital has closed its sixth and largest fund to date FTV VI at its hard cap of $1.2 billion with capital commitments from existing and new limited partners.
The latest growth equity fund, which had a fundraising target of $1 billion, pursues opportunities in enterprise technology and services, financial services and payment processing companies, each with a target investment of $30 million to $100 million.
"We are grateful for the ongoing trust our investors have placed in our team and our differentiated approach, which drives us to find exciting proprietary investment opportunities," said Brad Bernstein, managing partner at FTV Capital.
Investors in the new fund include the $31.5 billion Texas Municipal Retirement System, Austin.
The previous fund, FTV V, closed at $850 million in 2016, said the growth equity investment firm.
22-year history, FTV has raised nearly $4 billion and invested in 114 innovative, high-growth companies in its core sectors: enterprise technology and services, financial services, and payments and transaction processing.
FTV had a highly productive year in 2019 with a record of over $800 million in realizations, including a significant recapitalization of True Potential, the sale of WorldFirst to Ant Financial, the acquisition of Health Credit Services by Ally Financial, and the sale of Empyrean Benefit Solutions to Securian Financial.
In the last 12 months, FTV has also committed $385 million ...................... To view our full article Click here
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