Accel-KKR closed its fifth buyout fund, Accel-KKR Capital Partners V, at $1.3 billion, the money manager announced in a news release Monday.
The $1.3 billion in committed capital includes $100 million from the firm’s general partners, making Accel-KKR the largest investor in the fund, according to the news release.
The fund focuses on lower-middle-market and middle-market software and IT-enabled companies.
Predecessor fund Accel-KKR Capital Partners IV closed in 2012 with more than $800 million in committed capital.
Fundraising for the fund started this spring. Investors include the $25.2 billion Texas County & District Retirement System, Austin; and the $6.5 billion District of Columbia Retirement Board, Washington.
A spokesman was not immediately available for additional information.