TA XIII closes on $8.5bn cap

The vehicle was launched in the first quarter of 2019 and was oversubscribed at its first and final close, according to a statement.

It marks a significant increase on the volume of TA XII, which closed on $5.3bn in June 2015 and was 63% deployed by September 2018.

It is expected that TA XIII will commence its investment period during the second half of 2019.

Goodwin Procter served as fund counsel.

Investors
Commitments to TA XIII came from a diverse group of largely existing global investors, including public pension plans, sovereign wealth funds, foundations and endowments, according to TA.

Washington State Investment Board made a $400m commitment to the vehicle, according to Unquote Data.

Investments
The new vehicle will focus on the mid-market globally, making equity investments in the range of $75-500m across the sectors of technology, healthcare, financial services, consumer and business services.

People
TA Associates – Brian Conway (chairman, managing partner); Ajit Nedungadi (managing partner).

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