TA Associates closed two funds, both at their hard caps, after six months of fundraising: the $12.5 billion TA XIV and $1.5 billion TA Select Opportunities Fund II, a news release said.
TA XIV, a middle-market growth equity fund, was launched in January and quickly became significantly oversubscribed, spokesman Daniel Abramson said in an email. TA XIV will aim to invest $100 million to $600 million per company. TA Select Opportunities Fund II will invest in TA portfolio companies that the TA Associates executives believe offer significant growth prospects. TA focuses on the technology, health-care, financial services, consumer and business services.
Investors in TA XIV include the $127.8 billion Washington State Investment Board, Olympia; $89.5 billion Ohio State Teachers Retirement System, Columbus; $82 billion Oregon Public Employees Retirement Fund, Tigard; $67.9 billion Los Angeles County Employees Retirement Association, Pasadena; $55.9 billion Tennessee Consolidated Retirement System, Nashville; $29.8 billion New Mexico State Investment Council, Santa Fe; $21.1 billion Kansas Public Employees Retirement System, Topeka; $3 billion Oklahoma Police Pension & Retirement System, Oklahoma City; and $617 million University of Vermont and State Agricultural College, Burlington.
LACERA and Tennessee Consolidated are among the investors in TA Select Opportunities Fund II.