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TA Associates closes thirteenth flagship private equity fund with USD8.5bn of commitments

Growth private equity firm TA Associates has held the first and final closing of TA XIII with total commitments at its hard cap of USD8.5 billion. Launched in the first quarter of 2019, TA XIII was oversubscribed and exceeded its original USD7.5 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 USD75-USD500 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,” says 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,” adds 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 USD5.3 billion private equity fund that began investing in March 2016, and TA Atlantic and Pacific VII, a USD1.4 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.

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