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Laxman Pai, Opalesque Asia: Tech-focused alternative investment firm Recognize Partners, co-founded by Cognizant's former CEO Francisco D'Souza and former Clayton, Dubilier & Rice executive David Wasserman, has closed its second fund with $1.7 billion.
The final tally for Recognize Partners II surpassed the $1.3 billion the New York-based firm raised for its debut fund. Recognize II was oversubscribed with strong support from existing investors, including a significant GP commitment, and a curated group of new investors.
The LP base includes leading global institutions such as endowments, foundations, pensions, insurers, family offices, outsourced CIOs, and fund-of-funds across the U.S., Europe, Asia, and Latin America, according to a media release from the investor and builder of next-generation Digital Services companies.
With Recognize II, the firm will continue to look at investing and picking up majority stake in companies with enterprise values between approximately $50 million and $500 million, when companies start needing growth capital, said the press release.
Over the last six months, Recognize has made four new platform investments: SDG Corporation (cybersecurity services), Sprout (Digital Infrastructure Services), TRANZACT (insurance services), and HealthEdge (SaaS for healthcare payers).
As per the release, the firm also completed two realization events earlier this year: the exit of AST, sold to IBM, and a partial exit of 2X through a...................... To view our full article Click here
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