BOSTON — Parthenon Capital, a leading growth-oriented private equity firm with offices in Boston, San Francisco and Austin, announced its affiliate, Parthenon Investors VII (“Parthenon Fund VII”), held its first and final closing with more than $4.5 billion in commitments. Parthenon Fund VII exceeded its initial fund target of $3.5 billion.
“We appreciate the swift, significant support we received from existing limited partners and are excited to welcome an outstanding group of new investors to the Parthenon family,” said Brian Golson, managing partner and co-chief executive officer. “We feel well positioned for the opportunities ahead.”
Dave Ament, managing partner and co-chief executive officer, added, “We remain excited by the many opportunities to build franchise companies in our target sectors and look forward to deploying our strategy and enhancing our capabilities as a firm in the coming years.”
Ropes & Gray LLP was counsel to Parthenon Fund VII, while Kirkland & Ellis represented Parthenon Capital for all management company documentation. Parthenon did not use a placement agent in the fundraising.
About Parthenon Capital
Parthenon Capital is a leading mid-market private equity firm with offices in Boston, San Francisco and Austin. Parthenon utilizes niche industry expertise and a deep execution team to invest in growth companies in service and technology industries. Parthenon seeks to be an active and aligned partner to management, either through recapitalization transactions or by backing new executives. Parthenon has particular expertise in financial and insurance services, healthcare and business services, but seeks any service, technology or delivery business with a strong value proposition and proprietary know-how. www.parthenoncapital.com