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TA Associates closes 2 funds at a combined $14bn at their hard caps

Thursday, June 03, 2021

Laxman Pai, Opalesque Asia:

TA Associates closed two funds, both at their hard caps, after six months of fundraising: the $12.5 billion TA XIV and $1.5 billion TA Select Opportunities Fund II.

The Boston private equity firm said in a press release that TA XIV was launched in January 2021 and quickly became significantly oversubscribed, with demand exceeding its original $10.5 billion target. The sum raised is about 47% larger than a predecessor fund, which closed two years ago at $8.5 billion.

TA XIV will aim to invest $100 million to $600 million per company. TA Select Opportunities Fund II will invest in TA portfolio companies that the TA Associates executives believe offer significant growth prospects. TA focuses on technology, health care, financial services, consumer, and business services.

Brian Conway, Chairman of TA. "Many of TA's investors have been our partners for decades, and we are extraordinarily grateful for their long-term support. We are pleased to have earned our investors' continued commitment to TA's unique approach to growth private equity. The entire TA team is energized by the opportunity, and deeply respectful of the responsibility to invest and work for our limited partners."

Investors in TA XIV include Washington State Investment Board, Olympia; Ohio State Teachers Retirement System, Columbus; Oregon Public Employees Retirement Fund, Tigard; Los Angeles County Employees Retirement Association, Pasadena; Tennessee Consolidated Retireme......................

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