Providence Equity Partners, one of the private-equity industry’s oldest sector-focused firms, is pitching its latest flagship fund to investors after a successful management transition last year.
The firm is targeting $6 billion for its newest main buyout fund and expects to hold a first close sometime in the spring of 2022, according to people familiar with the fundraising efforts. The Providence, R.I.-based manager announced the fundraising plans at its annual investor conference last week, the people said.
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Providence Equity Partners is a premier global private equity firm with approximately $45 billion in aggregate capital commitments. Providence pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value.
Since the firm’s inception in 1989, Providence has invested in over 170 companies and is a leading equity investment firm focused on growth-oriented investments in media, communications, education, software and services.
Source: Wall Street Journal
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