Monday, 27 February 2017
Last updated 16 min ago
Feb 16 2017 | 9:42pm ET
Private equity firm PeakEquity Partners has raised $137 million for its inaugural buyout fund, exceeding its $100 million target.
The new fund, named PeakEquity Partners Fund I, L.P., will specialize in majority buyouts and minority recapitalizations of enterprise software and solutions businesses that have large addressable markets, proven technology, products and offerings, and demonstrated traction with a meaningful base of referenceable customers, the company said in a statement.
To date, the fund has led three enterprise software and solutions buyouts, deploying $50 million of fund equity, and over $200 million of fund and co-investor equity.
Stanwich Advisors LLC and CV Brokerage Inc. served as placement agents for the new fund, while and Weil, Gotshal & Manges LLP served as legal counsel.
Based near Philadelphia, PA, PeakEquity was founded in 2014 by former Apax Partners executive Greg Case and technology industry veteran Paul Winn. Partner Ric Andersen, formerly a managing director at Silver Lake Partners, joined the firm in 2015. The company makes minority or control investments of $20-$50 million into companies with addressable markets of at least $1 billion.