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Alternative Assets  + Private Equity  | 
STG Hauls $4.2B for Seventh Software-Focused Fund

STG Hauls $4.2B for Seventh Software-Focused Fund

Symphony Technology Group (STG) closed its seventh software-focused fund, STG VII, with $4.2 billion in capital commitments, including approximately $4 billion of limited partner commitments, making it the Menlo Park, CA-based firm’s largest raise to date.

Investors in the fund include Los Angeles County Employees’ Retirement Association; Illinois Municipal Retirement Fund; and the Fairfax County Educational Employees’ Supplementary Retirement System.

“We are incredibly grateful to our existing and new investors for their support, especially given the context of the challenging fundraising environment and uncertain macro backdrop,” said William Chisholm, managing partner and chief investment officer.

Founded in 2002, STG has raised nearly $10 billion across its private equity investment funds and has completed more than 100 investments, including both platform and add-on investments.

Evercore Private Funds Group acted as STG’s exclusive global placement agent, and Kirkland & Ellis, LLP served as fund counsel.

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Symphony Technology Group

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.