UPDATE 1-Providence Equity announces $12 bln fund

(Changes attribution)

NEW YORK, Feb 21 (Reuters) - Private investment firm Providence Equity Partners, which focuses on media and communications, said on Wednesday it raised a $12 billion fund.

Providence, which manages $21 billion in funds, has holdings including stakes in Warner Music Group Corp. (WMG.N) and Metro-Goldwyn-Mayer Inc.

Investors in the fund, Providence Equity Partners VI, include corporate, state and sovereign pension funds, university endowments, private foundations, funds of funds, and high net worth individuals.

Private equity firms are increasingly raising funds worth more than $10 billion as the interest in the private equity sector increases among investors.