TA Associates, a global growth private equity firm, has closed its TA Debt Fund V with over $1.1 billion in commitments, exceeding its target of $600 million.

The fund will invest in the credits of both new and existing TA portfolio companies, and more broadly, an opportunity set to include senior secured debt while continuing to invest in traditional TA subordinated debt investments. TA Debt Fund V will also give the option to invest across multiple credits within the same company.

“TA Debt Fund V is an exciting milestone in the continued evolution of our debt investing strategy,” says Ajit Nedungadi, chief executive officer at TA. “TA’s proven industry expertise, deep understanding of market trends and highly experienced Capital Markets Group are integral to our continued success with this strategy going forward. We are enormously grateful for our investors’ continued confidence in the team and our ability to deliver value to our partners and portfolio companies.”