Buyout and mezzanine firms in the U.S. brought the total commitments secured so far this year to $76.7 billion. The latest tally includes the efforts of Summit Partners and others.
Summit Partners has picked up a total of $176.8 million for Summit Partners Growth Equity Fund III LP. The fund has a $300 million goal. The commitments were secured from 23 accredited investors, according to a filing by the Buffalo, N.Y.-based firm.
Panda Power Funds LP held the final close of its first private equity fund (Panda Power Generation Infrastructure Fund LP) with $420 million in commitments. Avante Mezzanine Partners also finished fundraising for Avante Mezzanine Partners SBIC LP above its $200 million target. The vehicles closed with $218 million.
Deal flow was nudged slightly higher, as Buyouts magazine’s publisher Thomson Reuters tracked 15 completed deals involving U.S.-based financial sponsors. Only two had known financial terms and these combined for $344.4 million.
Vista Equity Partners LLC was involved in the larger deal. It purchased Sage Software Healthcare LLC from Sage Group PLC. The acquisition of the health record software development company has a rank value of $320 million. Year-to-date deal volume is now at $84.2 billion.
CORRECTION: Summit Partners was incorrectly identified in a version of this story posted on Nov. 28, 2011, where it was called Summit Partners Capital LLC