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Alternative Market Briefing

Veritas Capital closes debut credit fund on $400m

Wednesday, October 28, 2020

Laxman Pai, Opalesque Asia:

Private-equity firm Veritas Capital closed its maiden credit fund, collecting $400 million of aggregate committed capital to invest in companies at the intersection of technology and government.

The closing of the Credit Opportunities Fund, in addition to the final closing of Veritas Capital Fund VII with $6.5 billion of aggregate committed capital and additional limited partner commitments of almost $1 billion in support of Veritas' co-investment, brings Veritas' total capital raised over the past 12 months to almost $8 billion and total assets under management across the platform to over $20 billion.

The New York firm started fundraising last year for its Veritas Capital Credit Opportunities Fund LP and has already invested in 17 companies through the strategy. Those deals have allowed the firm to put 30% of the new fund to work.

"As the first credit fund in Veritas' integrated investment platform, the Credit Opportunities Fund leverages the Firm's highly differentiated deal flow and access to proprietary sector insights, which allow Veritas to embrace complexity and act with conviction and speed," said a press release from the company.

"For over two decades, we have successfully invested in some of the leading, market-critical companies in technology and government across all seven of our private equity funds," said Ramzi Musallam, Chief Executive Officer and Managing Partner of Veritas Capital.

"We launched the Credit Op......................

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