February 15, 2017
Veritas Capital Closes Sixth Fund with $3.55 Billion of Commitments
Fundraising Completed in Four Months; Fund Significantly Oversubscribed
NEW YORK--(BUSINESS WIRE)--Veritas Capital, a leading private equity investment firm, announced today that it has completed a $3.55 billion fundraise for Veritas Capital Fund VI. Fund VI reached its hard cap and was significantly oversubscribed, exceeding its target of $3 billion within four months.
Consistent with its predecessor funds, Fund VI will continue Veritas’ successful strategy of investing in technology-focused middle market companies that work with government-related and leading commercial customers across a broad range of sectors including aerospace & defense, healthcare, technology, national security, communications, energy, government services and education.
Veritas Capital is led by Chief Executive Officer and Managing Partner, Ramzi Musallam, and five partners, supported by a team of highly skilled investment professionals. The firm works closely with portfolio company management teams to strategically transform their businesses, including helping to enhance their capabilities, promote new business development, and identify growth opportunities in core and adjacent markets. Last month, the firm agreed to acquire Harris Corporation’s government IT services business for $690 million, further complementing a robust portfolio which includes companies such as Verscend Technologies, Inc., Vencore, Inc. and Abaco Systems, Inc.
“We are grateful for the support and confidence of our existing investors and are pleased to welcome a number of new investors to the fund,” said Mr. Musallam. “The demand for Fund VI reflects the success of our differentiated strategy and our ability to identify and execute attractive investment opportunities. We look forward to pursuing the many exciting opportunities ahead.”
The firm’s predecessor platform fund, Veritas Capital Fund V, completed its fundraising of $1.875 billion of aggregate committed capital in August 2014 and made its first investment in the second quarter of 2015.
About Veritas Capital
Veritas Capital is a leading private equity 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, technology, 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 Capital and its current and past investments, visit www.veritascapital.com.
Andrew Cole/Julie Rudnick
Sard Verbinnen & Co