October 15, 2019
Veritas Capital Closes Seventh Fund with $6.5 Billion of Commitments
Differentiated Strategy Coupled with Top Performance Enables Swift Fundraise
Veritas Capital, a leading private investment firm, announced today the successful final close of Veritas Capital Fund VII with $6.5 billion of aggregate committed capital. Veritas Capital Fund VII was brought to a quick close in less than six months after launching its fundraising earlier this year and was significantly oversubscribed, with demand exceeding its hard cap and its initial target of $5 billion. Veritas Capital Fund VI, which closed on $3.55 billion in commitments after targeting $3 billion, was raised in 2017.
Consistent with Veritas’ top-performing predecessor funds, Fund VII will continue the firm’s focused, successful strategy that has been in place and continually refined over the last twenty years of identifying and driving the transformation of market-leading, technology-focused companies that provide critical products and services to government-related and leading commercial customers.
Veritas partners with portfolio company management teams to deploy value-building strategies and drive transformational growth across their businesses, allowing them to target larger addressable markets, expand into adjacent market segments, and capitalize on new compelling business opportunities.
“We are pleased to have received such a high level of interest in our seventh fund, and we are humbled by the support of our existing limited partners, as well as a number of new investors,” said Ramzi Musallam, Chief Executive Officer and Managing Partner of Veritas Capital. “I believe the strength of our latest fundraise is a testament to our diverse team of investment professionals and associated intellectual property that enable us to identify attractive investment opportunities and drive unmatched growth. We are particularly proud of our ability and track record of leveraging technology to make a positive impact across vitally important areas – such as national security, healthcare and education – in turn, helping to protect our nation and allies, improve the quality of healthcare while reducing cost, and improve our educational system. We would like to thank our world-class investor base for their commitment to the firm.”
Veritas was recently recognized as the “most consistently high-performing buyout fund manager” and has the most reliably successful buyout funds with all 5 of its ranked funds classified as top performing by Preqin. The firm has a robust track record of acquiring companies with significant growth potential, with notable recent investments including athenahealth, Cotiviti, Guidehouse, Cambium Learning Group, and Perspecta.
Veritas is a leading private investment firm that invests in companies that provide critical products and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide, including those operating in the aerospace & defense, healthcare, software, national security, communications, energy, government services and education industries. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. For more information on Veritas and its current and past investments, visit www.veritascapital.com.
David Millar/Julie Rudnick/Julie Casale
Sard Verbinnen & Co