STG closes oversubscribed Fund VII at $4.2bn

STG, a private equity firm focused on investing in software and software-enabled technology services businesses, has held the final closing of STG VII with total capital commitments of $4.2 billion, including approximately $4.0 billion of limited partner commitments. 

STG, a private equity firm focused on investing in software and software-enabled technology services businesses, has held the final closing of STG VII (Fund VII) with total capital commitments of $4.2 billion, including approximately $4.0 billion of limited partner commitments. 

Fund VII, which is STG’s largest fund to date at more than double the size of its predecessor, attracted strong support from both existing investors and an expanded base of new investors globally. Fund VII was oversubscribed at its hard cap, successfully completing the fundraise above its $3 billion target in under five months.

The fund’s new investors include public and corporate pensions, insurance companies, endowments and foundations, family offices, consultants, and asset managers from North America, Europe, the Middle East, and Asia.

Evercore Private Funds Group acted as STG’s exclusive global placement agent, and Kirkland & Ellis, LLP served as fund counsel.