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TA Announces $1.1B Close of Fifth Debt Fund

September 21, 2022, 07:00 AM
Filed Under: Private Equity

TA Associates (“TA”), a leading global growth private equity firm, announced the completion of its fundraising for TA Debt Fund V (“the Fund”) with total commitments of more than $1.1 billion. Launched in 2022, TA Debt Fund V quickly exceeded its initial target of $600 million, and is significantly larger than its predecessor fund, TA Subordinated Debt Fund IV, which closed at $542 million.

“TA Debt Fund V is an exciting milestone in the continued evolution of our debt investing strategy,” said Ajit Nedungadi, Chief Executive Officer at TA. “TA’s proven industry expertise, deep understanding of market trends and highly experienced Capital Markets Group are integral to our continued success with this strategy going forward. We are enormously grateful for our investors’ continued confidence in the team and our ability to deliver value to our partners and portfolio companies.”

TA Debt Fund V will continue the legacy of its predecessor funds, with the increased flexibility to invest in the most attractive credits of both new and existing TA portfolio companies. The Fund’s broader mandate offers an expanded opportunity set to include senior secured debt, while also continuing to invest in more traditional TA subordinated debt investments. The Fund will have exposure across the debt capital structure, with the option to invest across multiple tranches of credit in the same company. TA Debt Fund V’s strategy, while designed for flexibility, is informed by TA’s disciplined due diligence and decision-making process, and benefits from proprietary access to high-quality portfolio companies across TA’s five target sectors – technology, healthcare, financial services, consumer and business services.

“We believe TA Debt Fund V is a unique product in the market,” said Tony Marsh, Managing Director and Chief Capital Markets Officer at TA. “We have built on our capabilities in subordinated debt investing and broadened the mandate to include access to large captive opportunity created by the significant demand for debt financing across our portfolio.”

“With TA Debt Fund V’s successful close, we are well-positioned to continue supporting the evolving needs of TA’s portfolio companies,” said Jason Werlin, Managing Director at TA. “I am extremely excited by the strategic opportunities we have already identified for the Fund.”

“We thank our investors, both returning and new, for their trust in TA’s investment strategy and culture,” said Andrew Harris, Director of Investor Relations at TA. “Delivering best-in-class performance for our investors is our top priority.”

The closing of TA Debt Fund V follows an active third quarter for TA, including new investments in Hornetsecurity, an international cloud security and compliance SaaS provider; Technosylva, a provider of wildfire simulation modeling; Green Street, a supplier of commercial real estate intelligence and analytics; and Intelerad, a developer of enterprise medical imaging solutions, among others.

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