Diversis Capital Management, LP (Diversis), a Los Angeles-based private equity firm focused on investments in software and tech-enabled services organisations, has closed its Diversis Capital Partners III fund, with over $1.2bn of total commitments, surpassing its target of $850m.
The oversubscribed fund reached its hard cap with participation from both new and existing institutional investors, bringing the firm’s total assets under management to over $3bn. Diversis completed its Fund II fundraise in 2021 with $680m of committed capital.
The firm focuses on investment in lower mid-market companies, primarily in businesses based in North America, and selectively in Europe and Australia.
William Blair acted as exclusive global placement agent, and Paul, Weiss, Rifkind, Wharton & Garrison LLPÂ served as legal counsel.
