TA Associates, a global growth private equity firm, has completed its fundraising for TA XIV with total commitments at the hard cap of $12.5 billion. TA XIV was launched in January 2021 and became oversubscribed, with demand exceeding its original $10.5 billion target. In addition, TA announced the closing of TA Select Opportunities Fund II, also launched in January 2021, with total commitments at its hard cap of $1.5 billion.
TA XIV will continue TA’s long-term investment strategy of investing in companies within the technology, healthcare, financial services, consumer goods and business services sectors. Investments are expected to range in size from $100 to $600 million. Like its predecessor fund, TA Select Opps II will make investments in independent, third-party priced recapitalizations of high-performing TA portfolio companies that the firm believes offer significant prospects for continued organic and inorganic growth.
“For more than 50 years, TA has helped scale leading growth companies across industries, borders and financial cycles through our relentless focus on building lasting value,” said Brian Conway, chairman of TA. “Many of TA’s investors have been our partners for decades, and we are extraordinarily grateful for their long-term support. We are pleased to have earned our investors’ continued commitment to TA’s unique approach to growth private equity. The entire TA team is energized by the opportunity, and deeply respectful of the responsibility to invest and work for our limited partners.”
“This successful fundraise is an exciting milestone that reflects investor confidence in our core investment strategy,” said Ajit Nedungadi, chief executive officer of TA. “We are committed to investing in the highest quality growth businesses in our target industries and leveraging the depth and experience of the organization to drive proprietary opportunities in these sectors. The strength of our value creation capabilities and our extensive global network positions TA to help leading companies continue their growth journeys and transform into strategic platforms.”
A group of largely existing global investors in prior TA funds, including leading public pension plans, sovereign wealth funds, foundations and endowments, committed capital to TA XIV and TA Select Opps II.
“We want to thank our limited partners for their thoughtful engagement throughout the fundraising process and for their steadfast support and enthusiastic conviction in TA’s strategy and culture,” said Andrew Harris, director of investor relations at TA. “We are privileged to have earned the trust of so many high-quality institutional investors around the world, and we are excited about our ongoing partnership in this next generation of TA funds.”
Goodwin Procter LLP served as fund counsel for TA XIV and TA Select Opportunities Fund II.