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Laxman Pai, Opalesque Asia: Summit Partners, a global alternative investment firm, closed its latest flagship U.S. growth equity fund, Summit Partners Growth Equity Fund XII, with $9.5 billion in capital.
According to a media release from the global growth equity investment firm, consistent with the firm's prior funds, the general partner will be the single largest investor in Summit XII.
Investors in Summit XII include Minnesota State Board of Investment, St. Paul; Pennsylvania Public School Employees Retirement System, Harrisburg; Illinois Municipal Retirement Fund; Delaware Public Employees' Retirement System, Dover; and Merced County Employees' Retirement Association, Merced, Calif.
"We are deeply grateful for the longstanding support of our existing limited partners and are pleased to welcome several new investors," said Peter Chung, Managing Director and Chief Executive Officer of Summit Partners.
"With the closing of our latest flagship fund, we will continue to execute our growth equity investing strategy. This strategy, which we believe is both timeless and time-tested, is grounded in our foundational belief that profitable growth is the most reliable source of superior risk-adjusted returns through market and economic cycles," Peter added.
Today, Summit's global team includes more than 100 investment professionals with deep domain knowledge within key growth sectors, including technology, healthcare, financial technology and servi...................... To view our full article Click here
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