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Laxman Pai, Opalesque Asia: New York-based private-equity firm Veritas Capital closed its eighth flagship fund, Veritas Capital Fund VIII, at $10.7 billion.
The buyout fund was "significantly oversubscribed," as demand exceeded its hard cap and the initial target of $8.5 billion, said a press release from the technology investor with over $45 billion of assets under management.
Since its inception, Veritas has identified and driven the transformation of more than 115 companies that provide critical products and services to government-related and leading commercial customers, the release said.
"Consistent with Veritas' predecessor funds, Fund VIII will continue leveraging the firm's proprietary intellectual property and applying its focused, successful playbook that has been in place over the last 25 years," it added.
Fund VIII received commitments from a combination of new and existing investors from across the globe, including leading institutions, endowments and foundations, family offices, and pension plans.
Investors in Fund VIII include Philadelphia Public Employees Retirement System; Oregon Public Employees Retirement Fund, Salem; Montana Board of Investments, Helena; Pennsylvania State Employees' Retirement System, Harrisburg; and Adams County Retirement Plan, Brighton, Colo.
"We are grateful to our global base of investors for their continued confidence, and we appreciate additional support from several new partners," said Ramzi Musallam, Ch...................... To view our full article Click here
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