Veritas Capital Fund Management has closed its fifth fund on its $1.87 billion hard cap, beating its $1.5 billion target. The Veritas Capital Fund V, L.P. hit the market in April and held a first and only close. The fund will focus investments on middle market companies that provide products and services to government customers in industries like aerospace & defense, healthcare, technology, national security, communications, energy and education.
Veritas Capital Fund Management, L.L.C., a leading private equity investment firm, today announced the closing of The Veritas Capital Fund V, L.P. The new fund reached its hard cap in one closing with $1.875 billion of aggregate committed capital. The fund was significantly oversubscribed, exceeding its target of $1.5 billion.
Fund V will continue Veritas’ proven strategy of investing in middle-market companies that provide products, services and solutions to government customers in industry sectors such as aerospace & defense, healthcare, technology, national security, communications, energy and education.
Veritas is led by partners Ramzi Musallam, Hugh Evans and Benjamin Polk. “We greatly appreciate the support from our existing and new investors and thank them for their commitment to Fund V,” said Managing Partner Ramzi Musallam. “The significant demand for the fund underscores the strength of our team, differentiated strategy and resulting unique perch we have built in the private equity market. We see tremendous opportunities ahead.”
Fund V was brought to a quick first and only close after launching its fundraising in April this year. Fund V’s predecessor fund completed its fundraising of $1.2 billion in July 2010.
About Veritas Capital
Veritas Capital is a leading private equity firm that invests in companies that provide critical products and services to government and commercial customers worldwide including those operating in aerospace & defense, healthcare, technology, national security, communications, energy and education. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. Current investments include: Aeroflex Holding Corp., Anaren, Inc., CPI International, Inc., CRGT, Inc., Excelitas Technologies Corp., KeyPoint Government Solutions, Inc., Truven Health Analytics, Inc., and Vencore (formerly The SI Organization Inc).