Growth investment giant TA Associates has unveiled a string of New Year promotions as it reportedly looks to raise up to $16bn across a pair of new funds this year.
Mike Libert has been promoted from director to managing director in the firm’s Boston headquarters. He focuses on investments in software companies in North America, and sits on the boards of businesses including Aptean, Gamma Technologies and MRI Software.
London-based Stefan Dandl becomes a director, while Ben Bold and Rafael Telahun have been promoted to senior vice President and Ali Abdel-Halim, Yash Baheti, Laurent Indekeu, Enzo Loreti and Kaelan Ong to vice president.
Firm CEO Ajit Nedungadi said, “The strength and versatility of our team is key to creating value for portfolio companies, delivering for investors and evolving as a firm.
“We are proud to foster a culture of entrepreneurship and collaboration that allows our people to develop and advance.”
TA Associates is reportedly in the market for a new flagship fundraise this year, with eyes on up to $16bn across that and its latest Select fund.
The private equity major only closed its most recent flagship fund in 2021, reaching a $12.5bn hard cap for the vehicle.
It picked up $1.5bn at the same time for TA Select Opportunities Fund II – a vehicle dedicated to reinvesting in existing portfolio businesses that the firm is trying to exit.
TA is looking to collect an identical amount for Select III, and up to $14.5bn for its flagship Fund XV according to Buyouts, which cited unnamed sources.
The firm has raised $48.6bn in capital since its was founded in 1968.
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