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Laxman Pai, Opalesque Asia: General Atlantic, a global growth equity firm, has held a $7.8bn final close for its sixth flagship fund, beating its $5bn target.
The firm now has $23.8bn in committed capital and more than $78bn in assets under management.
Backers in the new fund included new and existing capital partners, including family offices, endowments, foundations, and institutional investors, the growth investment firm said.
The firm created a unique capital structure that enables the firm to scale its capital base on an ongoing basis that includes closed-end funds, five-year managed accounts, evergreen accounts, and a GP commitment, representing the largest single investor in GA's core investing program, according to the firm.
"Our global growth equity strategy positions us to capitalize on the profound acceleration of digital innovation and global entrepreneurship as we seek to deliver attractive risk-adjusted returns to our capital partners," said Bill Ford, Chairman, and CEO of General Atlantic. "Our ability to partner with management teams, help build rapidly growing, technology-enabled companies on a global scale, and generate strong and consistent investment performance distinguishes General Atlantic with both entrepreneurs and investors."
"We believe that growth equity plays a critical role in driving innovation and delivering both strong performance and positive impact," said Graves Tompkins, Managing Director and Global Head of Capital Partne...................... To view our full article Click here
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