Siris Capital raises $1.81 billion for third technology-focused fund
New York, NY, February 12, 2015 – Siris Capital Group, LLC (“Siris”), a leading technology private equity investment firm, has completed fund raising for Siris Partners III, L.P (“Siris III”). Siris III officially came to market in late September 2014 and closed at $1.81 billion of aggregate capital commitments, well exceeding its initial target of $1 billion.
Mssrs. Frank Baker, Peter Berger and Jeffrey Hendren founded Siris in 2011 having worked together for over 16 years dating back to their tenures at Ripplewood Holdings. Siris targets complex technology situations; typically where businesses are caught in the midst of a technology transition.
With the final closing of Siris III, Siris will manage over $2.4 billion in cumulative capital commitments on behalf of various leading pension funds, endowments, foundations, financial institutions, insurance companies, among other investors, globally.
“We are thankful for the overwhelming level of support we received from both our existing and new investors committing to Siris III,” said Co-Founder and Managing Partner, Frank Baker. “Technology disruptions continue to create unique investment opportunities at attractive valuations. Leveraging our deep operational expertise, we are well positioned to continue to benefit from this trend.”
Park Hill Group LLC served as placement agent and Kirkland & Ellis LLP served as legal counsel for Siris III.