Providence launches $6bn flagship fundraise, just two years after closing similarly-sized Fund VIII | AltAssets Private Equity News
Summary
Providence Equity Partners is reportedly back in the fundraising market eyeing up to $6bn for its latest flagship fund, just a couple of years after closing a similar amount for its predecessor vehicle. The firm expects to hit a first close for Fund IX early next year according to the Wall Street Journal, which cited unnamed people it said were familiar with the fundraise. Never miss a story – click to sign up to AltAssets’ free daily PE newsletter It added that Providence announced the fundraising plans as its annual investor conference last week. Providence raised more than $6bn for the final close of its eighth flagship fund two years ago, above its $5bn target. The private equity house currently has about $45bn of commitments under management, targeting media, communications, education, software and services.