Alpine Investors closed its Alpine Investors VIII fund at $2.25 billion, a company spokeswoman confirmed in an email.
The buyout fund, which targets recurring revenue-driven software and service companies with total enterprise values of up to $500 million, exceeded its fundraising target of $1.7 billion. The previous fund, Alpine Investors VII, closed at $1 billion in 2019.
Investors in the latest fund include the $179.9 billion Texas Teacher Retirement System, Austin; the $20.2 billion Arkansas Teacher Retirement System, Little Rock; and the $1.1 billion Ohio State Highway Patrol Retirement System, Columbus.
