Veritas Capital Fund Management has held a first and final close at $1.875 billion for its latest middle-market private equity fund, Veritas Capital Fund V, after just three months of fundraising, spokeswoman Alexandra LaManna said in an e-mail.
The new fund reached its hard cap and was oversubscribed, exceeding its $1.5 billion target. The offering also surpassed the prior fund, which raised $1.2 billion in July 2010.
The fund will invest in middle-market companies that provide products and services to government customers in sectors such as aerospace and defense, health care, technology and national security.
Investors in the fund include the $44.2 billion Illinois Teachers’ Retirement System, Springfield; $4.2 billion Colorado Fire & Police Pension Association, Greenwood Village; and $1.2 billion El Paso (Texas) Firemen & Policemen Pension Fund.
