General Atlantic has closed its sixth flagship fund at $7.8 billion, beating its $5 billion target. GA 2021’s investors include family offices, endowments, foundations and institutional investors around the world. Amran Hussein and Conrad van Loggerenberg of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to General Atlantic. General Atlantic invests in tech companies across five sectors: consumer, financial services, healthcare, life sciences and technology.
General Atlantic, a leading global growth equity firm, announced today the final close of its sixth flagship fund, GA 2021, at $7.8 billion, above its initial target of $5 billion. The fund received commitments from new and existing capital partners, including family offices, endowments, foundations and institutional investors around the world.
The firm, which pioneered the growth equity asset class more than four decades ago, now has $23.8 billion in committed capital and over $78 billion in assets under management. General Atlantic partners with high-growth, tech-enabled companies globally across its five core sectors: Consumer, Financial Services, Healthcare, Life Sciences and Technology. Since its founding, General Atlantic has invested $49 billion in more than 445 global growth companies.
“Our global growth equity strategy positions us to capitalize on the profound acceleration of digital innovation and global entrepreneurship as we seek to deliver attractive risk-adjusted returns to our capital partners,” said Bill Ford, Chairman and CEO of General Atlantic. “Our ability to partner with management teams, help build rapidly growing, technology-enabled companies on a global scale, and generate strong and consistent investment performance distinguishes General Atlantic with both entrepreneurs and investors.”
“We believe that growth equity plays a critical role in driving innovation and delivering both strong performance and positive impact,” said Graves Tompkins, Managing Director and Global Head of Capital Partnering for General Atlantic. “The enthusiasm for our global investment strategy and partnership approach enables us to scale our capital base to meet our expanding opportunity set while creating strategic and long-term relationships with family and institutional investors.”
General Atlantic operates outside of the traditional fundraising cycle, with a unique capital structure that enables the firm to scale its capital base on an ongoing basis.
The firm’s capital structure includes:
Five-year managed accounts and evergreen accounts; and
A GP commitment, representing the largest single investor in GA’s core investing program.
This access to a stable, global pool of capital allows General Atlantic to maintain its focus on making the most attractive long-term decisions for both its portfolio companies and capital partners.
Amran Hussein and Conrad van Loggerenberg of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to General Atlantic.
About General Atlantic
General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $78 billion in assets under management inclusive of all products as of June 30, 2021, and more than 190 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore and Stamford. For more information on General Atlantic, please visit the website: www.generalatlantic.com.