Bahraini Buyout Arm Raises US$500M For Third Private Equity Fund

Jan 28 2008 | 12:41pm ET

London- and New York-based Investcorp Technology Partners has raised its third buyout fund, it said today.

Investcorp, the technology private equity division of Bahrain’s Investcorp, said that it raised US$500 million for ITP Fund III, easily topping its initial target of US$400 million and the US$300 million it raised for its second fund in 2005.

Like its first two offerings, which raised a total of US$510 million, ITP III will invest in small- and mid-sized technology companies in North America and Western Europe. Among its investors are the California Public Employees’ Retirement System and New York-based hedge fund QVT Financial.

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