JMI Equity closed its latest private equity fund, JMI Equity Fund IX, at $1.2 billion, above its $1.1 billion fundraising target, a spokesman said.
The fund will make growth equity investments in North American software and services companies.
Investors include the $24.6 billion New Mexico State Investment Council, Santa Fe.
JMI Equity Fund VIII closed at $1 billion in 2014, above its $900 million fundraising target.
