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Laxman Pai, Opalesque Asia: Alpine Investors said it capped its eighth fund at $2.25 billion, surpassing its $1.7 billion target less than four months after the launch date.
The San Francisco-based firm's Alpine Investors VIII LP is more than double the size of its predecessor, which closed on $1 billion in 2019.
Alpine Investors said that the self-described "people-driven" private equity firm expects to continue the strategy it has employed previously, targeting companies with enterprise values up to $500 million in the software and services businesses.
"We are grateful for the support of our returning and new limited partners. The enthusiastic reception of Fund VIII is evidence that the market sees value in Alpine's focus on recurring revenue-driven software and services businesses," Alpine Head of Investor Relations and Fundraising April Smith said.
Investors in the latest fund include Texas Teacher Retirement System, Austin; Arkansas Teacher Retirement System, Little Rock; and Ohio State Highway Patrol Retirement System, Columbus.
"We believe our success is a direct result of building a firm around exceptional people and creating a culture where people can build an exciting career for the long term," Alpine Founding Partner Graham Weaver said. "We are thrilled to see investors' enthusiasm for Alpine's strong outcomes and differentiated approach to building leadership teams."
According to a press release, two critical components of Alpine's Pe...................... To view our full article Click here
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