HGGC has closed its second fund at $1.33 billion, beating its $1 billion target.
The Palo Alto, California-based middle market private equity firm said it has already invested more than 20 percent of HGGC Fund II LP across four platforms. They include: AutoAlert, a provider of data mining analytics for the automotive market; Serena Software, a provider of IT application development and deployment solutions; Pearl Holding Group, which supplies underwriting, claims processing and policy management services to the insurance market; and, Sampling International, a data solutions provider.
HGGC said LPs of both funds include public and private pension funds, insurance companies, sovereign wealth funds, family offices and other financial institutions worldwide.
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