JMI Equity closes 8th fund at $1 billion

JMI Equity closed its latest private equity fund JMI Equity Fund VIII at $1 billion, besting its $900 million fundraising target, a JMI spokeswoman said.

The fund will make growth equity investments in North American software and services companies. It is also surpasses JMI’s $875 million predecessor fund.

Investors in the fund include the $27 billion Pennsylvania State Employees’ Retirement System, Harrisburg, $19.8 billion New Mexico State Investment Council, Santa Fe, and $2.3 billion Houston Municipal Employees Pension System.