TA Associates Completes 15th Equity Fund at $16.5B
Private equity giant TA Associates has closed its fifteenth flagship fund, TA XV, which launched in late November 2023, at its hard cap of $16.5 billion. The fund was oversubscribed and surpassed its initial target.
Investors include the Oregon Public Employees’ Retirement Fund, Texas Employees Retirement System, Washington State Investment Board, Texas County & District Retirement System, Teachers’ Retirement System of Texas and Massachusetts Pension Reserves Investment Management Board.
TA XV is the latest installment in the firm’s fund series following its predecessor TA XIV, which closed at $12.5 billion in June 2021.
As with its previous funds, TA XV will target equity investments in the technology, healthcare, financial services, consumer and business services sectors.
“With TA XV, we will continue to leverage our decades of industry experience, strategic value-add resources and extensive global network to support portfolio company management teams as they work to accelerate profitable growth,” said Hythem El-Nazer, managing director at TA.
Founded in 1968, Boston-based TA has raised $65 billion in capital and invested in more than 560 companies across its target industries, with over 120 companies in the portfolio today.
Goodwin Procter LLP served as legal counsel for TA XV.