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Laxman Pai, Opalesque Asia: Luminate Capital Partners, San Francisco-based private equity firm investing in growth software companies, has closed Luminate Capital Partners III at $1 billion, its hard cap.
The middle-market buyout fund closed well above its fundraising target of $700 million, bringing the firm's total assets under management to $1.7 billion, said a press release.
Fund III includes a diversified investor base of leading endowments, foundations, public and corporate pensions, ?asset management firms, and family offices.
Investors include the $164.9 billion Washington State Investment Board, Olympia, and the Oregon Investment Council, which oversees the $83.4 billion Oregon Public Employees Retirement Fund, Tigard.
Moelis & Company LLC served as placement agent and Kirkland & Ellis LLP provided legal counsel for Luminate.
The previous fund, Luminate Capital Partners II, closed at $425 million in 2018.
Luminate Founder and Managing Partner Hollie Haynes said, "As we have built Luminate over the past six years, we have focused solely on growth-oriented market leaders in enterprise software. We work with management teams to build scale and extend market leadership. We are excited to continue to execute on this strategy and are fortunate to have a strong and dynamic team of investment professionals and operating advisors who are integral to our success."
According to the press release, since its inception, Luminate has built a portfolio o...................... To view our full article Click here
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