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Laxman Pai, Opalesque Asia: American middle-market private equity firm HGGC has completed fundraising for HGGC Fund IV with $2.54 billion of capital commitments.
The global PE firm based in Palo Alto, California said in a press release that Fund IV exceeded its $2.25 billion target and continued to diversify its global limited partner base, including a significant commitment from the General Partner and its affiliates, who collectively remain the largest investor across all HGGC funds, ensuring strong alignment of interests.
According to the company, Fund IV is HGGC's largest fund to date and is nearly 38% larger than the Firm's $1.85 billion Fund III.
With the closing of Fund IV, HGGC now has more than $6.8 billion of cumulative capital commitments from over 170 Limited Partners representing public and private pension funds, sovereign wealth funds, insurance companies, family offices, and other institutional investors in 25 countries across North America, Europe, Asia, and the Middle East.
Fund IV has already invested in nine platform investments, including Aceable, Aspire Holdings, BuilderTrend, Entrata, Fullscript, Grand Fitness, Marmic Fire & Safety, PCF Insurance, and Specialist Risk Group.
HGGC is focused on four sectors in the middle market: Business & Tech-enabled Services, Consumer, Financial Services, and Software & Technology, said the company with over $6.8 billion of cumulative capital commitments.
Within these sectors, the Firm applies ...................... To view our full article Click here
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