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TA Associates wraps up its fifth debt fund at over $1.1bn

Thursday, September 22, 2022

Laxman Pai, Opalesque Asia:

TA Associates, a global growth private equity firm, has closed its fifth debt fund at more than $1.1 billion, beating its $600 million target.

TA Debt Fund V is significantly larger than its predecessor fund, TA Subordinated Debt Fund IV, which closed at $542 million, said a media release from the early modern-era PE firm in the United States, which invests in technology, healthcare, financial services, consumer, and business services. TA has raised $48.6 billion in the capital since its founding in 1968.

"TA Debt Fund V is an exciting milestone in the continued evolution of our debt investing strategy," said Ajit Nedungadi, Chief Executive Officer at TA. "TA's proven industry expertise, deep understanding of market trends, and highly experienced Capital Markets Group are integral to our continued success with this strategy going forward. We are enormously grateful for our investors' continued confidence in the team and our ability to deliver value to our partners and portfolio companies."

The fund will invest in subordinated debt investments as well as senior secured debt, the company informed.

"TA Debt Fund V will continue the legacy of its predecessor funds, with the increased flexibility to invest in the most attractive credits of both new and existing TA portfolio companies. The Fund's broader mandate offers an expanded opportunity set to include senior secured debt, while also continuing to invest in more traditional TA subord......................

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