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Private Equity

Wafra, Landmark Partners take minority stake in Siris Capital

Wafra Inc. and Landmark Partners acquired a passive, non-voting minority stake in private equity firm Siris Capital Group, Wafra spokeswoman Emily Rose said.

Terms of the deal were not disclosed.

A portion of the capital will be used to repurchase the minority stake issued when the firm was formed in 2011.

"Our partnership with Wafra and Landmark will help us continue to capitalize on attractive opportunities in our focus areas," said Frank Baker, a Siris co-founder and managing partner, in a news release.

Siris invests in mature technology companies that provide mission-critical solutions and are facing technology transitions. Siris has collected a total of $5.9 billion in capital commitments, including the $3.5 billion Siris Partners IV LP Fund that closed March 1.

Wafra is a $23 billion money management firm owned by the Public Institution for Social Security of Kuwait.