Siris Capital Group LLC has closed its third tech-focused fund at $1.81 billion, beating its initial $1 billion target.
Siris III officially came to market in late September 2014.
The firm’s previous fund raised $650 million in 2012, generating an average IRR of 41.93 percent and an average multiple of 1.57x, as of September 30, 2014, according to Bison data.
As a result of this current fundraising, Siris now manages more than $2.4 billion in capital commitments. Its limited partners include pension funds, endowments, foundations, financial institutions and insurance companies.
Park Hill Group LLC was the placement agent for Siris III.
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