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Summit Partners raises $8.35 billion for eleventh U.S. growth equity fund By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: This picture illustrates U.S. 100-dollar banknotes taken in Tokyo, August 2, 2011. REUTERS/Yuriko Nakao/File Photograph

(Reuters) – Summit Partners, an alternative investment company, announced Monday that it raised $8.35 Billion for its 11th U.S. equity fund.

Summit Partners Growth Equity Fund XI targets minority and major investments between $75 million and $500 million. It will primarily target “profitable, Category-leading Growth Companies”, according to the investment company.

According to the company’s records, there was a significant oversubscription of the fund. The firm has raised $43 billion capital in growth equity, fixed-income and public equity funds, since its inception in 1984.

Summit owns portfolio companies in North America and South Americas as well as Europe, Asia, Australia, and Africa.

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