Firm: TA Associates
Fund: TA Atlantic & Pacific VII-A LP, TA Atlantic & Pacific VII-B LP
Amount Raised: $1 billion+
Placement Agent: UBS Securities LLC
TA Associates has raised more than $1 billion for its latest fund for non-U.S. investors, TA Atlantic & Pacific VII, according to recent regulatory filings.
The firm is raising the fund in two parts, TA Atlantic & Pacific VII-A LP and TA Atlantic & Pacific VII-B LP, which have raised $435.58 million and $611.22 million, respectively, according to the filings.
UBS Securities LLC is helping the firm raise the capital, which includes 23 investors so far, according to the filings.
The fund will likely make equity investments of $50 million to $600 million in profitable companies in growth industries such as technology, financial services, business services, health care and consumer, according to the firm’s description of previous TA Atlantic & Pacific and affiliated funds.
Though the target for the fund is unclear, the tally already committed puts the Boston-based firm on its way to surpass the $1.75 billion it raised for TA Atlantic & Pacific VI, which closed in 2007. Prior to that, the firm had raised $800 million in commitments TA Atlantic & Pacific V in 2004.
Founded in 1968, TA Associates manages $16 billion and employs more than 70 investment professionals in Boston, Menlo Park, London, Mumbai and Hong Kong.
Most recently, the firm announced on May 16 it was helping to arrange a $150 million senior financing package as part of Kohlberg Kravis Roberts & Co.’s $150 million investment in stock photography Web site Fotolia. In April the firm made a minority investment in BillDesk, an online payment services company in India.
Through a press liaison, the firm declined to comment.