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Accel-KKR Pulls in $5.2B Over Two Funds Focused on Software and IT-Enabled Services

Accel-KKR Pulls in $5.2B Over Two Funds Focused on Software and IT-Enabled Services

Accel-KKR, a technology-focused private equity firm, has raised $5.3 billion over two funds – $4.4 billion for its seventh flagship fund Accel-KKR Capital Partners VII LP and $920 million for its second emerging buyout fund Accel-KKR Emerging Buyout Partners II LP.

Its flagship fund will continue Accel-KKR’s strategy of making majority buyout investments in lower-middle-market and middle-market software and IT-enabled services companies. The fund includes $300 million from Accel-KKR’s general partner and affiliates. The Emerging Buyout fund will have a special focus on small-cap companies. It includes $72 million from the general partner and affiliates.

“In raising these two new funds, we will continue our long-term strategy of working in partnership with management teams of the companies in which we invest, aggressively supporting their growth objectives by providing capital and operational support to fuel accelerated organic and inorganic growth,” said Tom Barnds, Co-Managing Partner at Accel-KKR.

The Menlo Park, CA-based firm’s most recent platform investments include compensation data and analytics firm Salary.com, UK-based rental payments processor PayProp and workforce management solution StoreForce, among others.

With $19 billion in cumulative capital commitments, was formed in 2000 as a joint venture between venture investor Accel and private-equity firm KKR.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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