Pamplona holds €1bn final close for TMT fund

The fund is the first sector-specific vehicle raised by the GP, which most recently held a final close for its fourth generalist private equity fund on €3bn in 2014.

The vehicle will be managed by new partners, Justin Perreault, Darren Battistoni and Hiren Mankodi, who will be based in its Boston office.

Perrault was appointed in December 2015 and has previously held senior positions at data management software company Object Design, Harvard University's endowment, and venture capital firm Commonwealth Capital.

Battistoni and Mankodi have been appointed more recently. The former joins the firm from his role as principal at investment firm Welsh Carson Anderson & Stowe, while the latter joins from his position as managing director at private equity firm Audax. Both have held seats on the boards of tech portfolio companies in their previous roles.

Pamplona would not disclose any details about the new fund's LP base.

Investments
Pamplona TMT Fund I will look to make 12-15 minority or majority equity investments, including buyouts and recapitalisations. It will primarily target assets in the cloud computing, software-as-a-service, mobile platform and industrial sectors.

The vehicle will write equity cheques of $50-75m, unquote" understands. It has made its first investment by providing $50m of growth capital to Dyn, a US-based company that monitors the performance of networks and applications.

People
Pamplona Capital Management – John Halsted (managing partner); Justin Perreault, Darren Battistoni, Hiren Mankodi (partners).

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