TA XIII is the successor fund to TA XII, a $5.3 billion private equity fund that began investing in March 2016, and TA Atlantic and Pacific VII, a $1.4 billion private equity fund that began investing in January 2014.
Global private equity firm TA Associates announced on Tuesday it has achieved the first and final closing of TA XIII, the firm’s thirteenth flagship private equity fund, with total commitments worth $8.5 billion. TA XIII, which was launched in the first quarter of 2019, was oversubscribed and exceeded its original $7.5 billion target, the firm said.
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. TA Associates said that 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 $75-500 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,” it indicated.
TA XIII is the successor fund to TA XII, a $5.3 billion private equity fund that began investing in March 2016, and TA Atlantic and Pacific VII, a $1.4 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.
Ajit Nedungadi, managing partner at TA Associates, said TA XIII will build on the firm’s existing strategy of providing transformational capital and strategic resources to great businesses and management teams across the globe. Focused on targeted sectors within five industries — technology, healthcare, financial services, consumer and business services — TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world.
In April this year, TA Associates announced that it has made a significant minority investment in Indira IVF, a leading India-based infertility treatment provider. In July 2018, the firm completed a minority investment in Prudent Corporate Advisory Services, an independent distributor of mutual fund and other wealth products in India.
Investing as either a majority or minority investor, TA employs a long-term approach, utilising its strategic resources to help management teams build lasting value in high quality growth companies. According to the firm, it has raised $32.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $2 billion per year. The firm’s investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong.