Finance

Summit Partners raises $8.35 bln for eleventh U.S. growth equity fund

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A picture illustration shows U.S. 100-dollar bank notes taken in Tokyo August 2, 2011. REUTERS/Yuriko Nakao/File Photo

Oct 4 (Reuters) - Alternative investment firm Summit Partners said on Monday it had raised $8.35 billion for its eleventh U.S. growth equity fund.

Summit Partners Growth Equity Fund XI will target minority and majority investments of $75 million to $500 million, primarily in "profitable, category-leading growth companies", the investment firm said.

The fund was significantly oversubscribed, according to the company, which has raised more than $43 billion in capital across its growth equity, fixed income and public equity funds since being founded in 1984.

Summit has portfolio companies in North and South Americas, Europe, Asia, Australia and Africa.

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Reporting by Noor Zainab Hussain in Bengaluru; Editing by Sriraj Kalluvila

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