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February 15, 2017 12:00 AM

Veritas Capital closes sixth fund at $3.55 billion, above its target

Meaghan Offerman
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    Veritas Capital announced Wednesday the closing of Veritas Capital Fund VI at $3.55 billion, reaching its hard cap and surpassing its $3 billion fundraising target.

    The fundraising was completed in four months.

    The private equity buyout fund will invest in technology-focused middle-market companies that provide goods and services to government entities and commercial customers across a range of sectors, including aerospace and defense, health care, technology, national security, communications, energy, government services and education, said a Veritas news release.

    A spokesman said no portfolio investments have yet been made.

    Investors in Veritas Capital Fund VI include the $109.2 billion New York State Teachers’ Retirement System, Albany; Oregon Investment Council, Tigard, on behalf of the $70.5 billion Oregon Public Employees Retirement Fund, Salem; $45.6 billion Illinois Teachers’ Retirement System, Springfield; $25.6 billion Texas County & District Retirement System, Austin; $14.6 billion Ohio Police & Fire Pension Fund, Columbus; and $10 billion Montana Board of Investments, Helena.

    Predecessor fund Veritas Capital Fund V closed at $1.88 billion in August 2014.

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