Valor Equity Partners closes growth equity fund Valor Equity Partners V at $1.7bn.
The oversubscribed fund closed at its hard cap. The previous fund, Valor Equity Partners IV, closed at $1.05bn in 2018.
Valor Equity Partners V will make initial growth-oriented investments of between $25m and $75m in technology-enabled companies.
Investors include the $247.7bn New York State Common Retirement Fund, Albany; the $51bn Illinois Municipal Retirement Fund, Oak Brook, and the Wyoming State Loan and Investment Board, Cheyenne, which oversees $22.7bn in state permanent funds.