The of upper limit of Motive Partners’ latest fund has been increased to US2 billion ahead of its expected closing in the next few weeks, according to a report by the Wall Street Journal.
Investors agreed to the change by the New York-based firm, which is partly owned by Apollo Global Management Inc and Capital Constellation Inc, with the cap having originally been set at USD 1.5 billion.
If the fund hits its new target it will be four times the size of its predecessor fund Motive Capital Fund I, which closed with capital commitments of USD473 million in 2019.
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Motive Partners is a specialist private equity firm with offices in New York City and London, focusing on growth equity and buyout investments in software and information services companies based in North America and Europe and serving five primary subsectors: Banking & Payments, Capital Markets, Data & Analytics, Investment Management and Insurance. Motive Partners brings differentiated expertise, connectivity and capabilities to create long-term value in financial technology companies.
Source: Private Equity Wire
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