BOSTON–(BUSINESS WIRE)–TA Associates, a leading global growth private equity firm, today
announced the first and final closing of TA XIII with total commitments
at its hard cap of $8.5 billion. Launched in the first quarter of 2019,
TA XIII was oversubscribed and exceeded its original $7.5 billion target.
Commitments to TA XIII came from a diverse group of largely existing
global investors, including leading public pension plans, sovereign
wealth funds, foundations and endowments. As with its predecessor equity
funds, TA XIII will focus on equity investments in middle-market growth
companies, primarily in opportunities originated and led exclusively by
TA. TA’s investments will range from $75-$500 million in equity. The
firm will seek to invest in growth companies with high quality,
profitable business models around the world within the technology,
healthcare, financial services, consumer and business services
industries.
“We are grateful and humbled to have received such a high level of
interest in our latest flagship fund,” said Brian J. Conway, Chairman
and Managing Partner at TA Associates. “We sincerely thank our existing
and new limited partners for their enthusiastic affirmation of TA
Associates’ strategy and culture.”
“TA XIII will build on our existing strategy of providing
transformational capital and strategic resources to great businesses and
management teams across the globe,” added Ajit Nedungadi, Managing
Partner at TA Associates. “We look forward to investing the fund to help
companies accelerate growth and deliver compelling investment
performance for our investors.”
TA XIII is the successor fund to TA XII, a $5.3 billion private equity
fund that began investing in March 2016, and TA Atlantic and Pacific
VII, a $1.4 billion private equity fund that began investing in January
2014. It is expected that TA XIII will commence its investment period
during the second half of 2019.
Goodwin Procter LLP served as fund counsel for TA XIII.
About TA Associates
TA Associates is one of the most experienced global growth private
equity firms. Focused on targeted sectors within five industries –
technology, healthcare, financial services, consumer and business
services – TA invests in profitable, growing companies with
opportunities for sustained growth, and has invested in more than 500
companies around the world. Investing as either a majority or minority
investor, TA employs a long-term approach, utilizing its strategic
resources to help management teams build lasting value in high quality
growth companies. TA has raised $32.5 billion in capital since its
founding in 1968 and is committing to new investments at the pace of
over $2 billion per year. The firm’s more than 85 investment
professionals are based in Boston, Menlo Park, London, Mumbai and Hong
Kong. More information about TA Associates can be found at www.ta.com.
Contacts
Marcia O’Carroll
TA Associates
617-574-6796
[email protected]
Zachary Tramonti
BackBay Communications
617-391-0797
[email protected]
