London and New York based specialist investment manager Pamplona Capital Management LLP has raised US$1 billion for its new fund.
Pamplona TMT Fund I, L.P., aims to make 12 to 15 equity investments in technology, media, and telecommunications (TMT) companies.
The fund will invest in high-growth companies in segments including cloud computing and SaaS companies, mobile platforms and services, and industrial technologies, considering both control and minority investments, buyouts and recapitalizations, and rollups and consolidations within its target sectors.
The first investment has been in Dyn, a cloud-based Internet Performance Management company based in Manchester, NH.
Led by Managing Partner John Halsted and Justin Perreault, Pamplona Capital Management, LLP manages over USD 10 billion in assets across a number of funds for a variety of clients including public pension funds, international wealth managers, multinational corporations, family offices and funds of hedge funds. The firm is currently managing its fourth private equity fund, Pamplona Capital Partners IV LP, which raised $4 billion in 2014.
In addition to the fund, Pamplona is also announcing the appointment of two additional partners to co-manage the fund: Darren Battistoni from Welsh, Carson, Anderson & Stowe and and Hiren Mankodi from Audax Group.