STG collects $4.2bn for seventh fund

• Fund VII’s limited partners include public and corporate pensions, insurance companies, endowments and foundations, family offices, consultants, and asset managers from North America, Europe, the Middle East and Asia
• Evercore Private Funds Group was the placement agent while Kirkland & Ellis, LLP served as fund counsel
• Based in Menlo Park, California, STG backs middle-market companies

STG has raised $4.2 billion for its seventh fund, beating its $3 billion target.

Fund VII’s limited partners include public and corporate pensions, insurance companies, endowments and foundations, family offices, consultants, and asset managers from North America, Europe, the Middle East, and Asia.

STF invests in software and software-enabled technology services businesses.

On the fundraising, William Chisholm, managing partner and chief investment officer, said in a statement, “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. We have made meaningful investments in our people and platform in recent years, and we believe Fund VII is very well positioned to be a leading partner to growing software companies.”

Evercore Private Funds Group was the placement agent while Kirkland & Ellis, LLP served as fund counsel.

Based in Menlo Park, California, STG backs middle-market companies.