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Investments

TA Associates closes middle-market growth equity fund at $8.5 billion

TA Associates has closed TA XIII, its latest middle-market growth equity fund, at $8.5 billion, the company announced Tuesday in a news release.

The final close of the fund exceeds its $7.5 billion fundraising target. The fund's investments will range from $75 million to $500 million in equity investments in middle-market growth companies in consumer and business services, financial services, health care and technology industries. The previous fund, TA XII, closed in 2016 at $5.3 billion.

Investors include the $128.1 billion Washington State Investment Board, Olympia; the $56.1 billion Los Angeles County Employees' Retirement Association, Pasadena, Calif.; the $50.8 billion Tennessee Consolidated Retirement System, Nashville; the $24.2 billion New Mexico State Investment Council, Santa Fe; the $18.5 billion Kansas Public Employees Retirement System, Topeka; and the $15.6 billion Ohio Police & Fire Pension Fund, Columbus.

TA Associates spokeswoman Marcia O'Carroll could not be immediately reached to provide further information.