The Private Investment Funds team advised TA Associates on its successful first and final closing of TA XIII with total commitments at its hard cap of $8.5 billion. Launched in the first quarter of 2019, TA XIII was oversubscribed and exceeded its original $7.5 billion target. Commitments to TA XIII came from a diverse group of largely existing global investors, including leading public pension plans, sovereign wealth funds, foundations and endowments. As with its predecessor equity funds, TA XIII will focus on equity investments in middle-market growth companies, primarily in opportunities originated and led exclusively by TA.
TA XIII is the successor fund to TA XII, a $5.3 billion private equity fund that began investing in March 2016, and TA Atlantic and Pacific VII, a $1.4 billion private equity fund that began investing in January 2014. It is expected that TA XIII will commence its investment period during the second half of 2019.
TA Associates is one of the most experienced global growth private equity firms. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world.
The Goodwin team was led by partner Paul Verbesey and included partners James Donohue and Neal Sandford, counsel Mirela Hristova and associates Samara Pals Cramer, David Holland, Lauren Falkowitz, Lynette Elam, Michael Shea, Jessica Taubman, Alexander Plaum and Elle Srisirikul. Hong Kong associates Teresa Wong, Manish Ranjan and Dominic Wong also provided support to the Goodwin team.
For additional details on TA XIII, please read the press release.