Carlyle completes $7.4bn acquisition of Veritas

This marks the biggest completed private equity deal announced in 2015.

The Carlyle Group completed its $7.4 billion purchase of information management system provider Veritas from Symantec Corp., the firm said.

The deal, initially announced on 11 August, drew equity capital from Carlyle Partners VI, Singapore’s sovereign wealth fund GIC, and other co-investors, the firm said. Terms of the deal were not disclosed.

A Carlyle spokeswoman declined to comment.

This marks the biggest private equity acquisition completed in 2015, according to data from Dealogic. Another mega-deal, which involves Blackstone and BioMed Realty Trust and which is valued at approximately $8 billion, is pending and expected to close this month.

Bill Coleman and Bill Krause will become Veritas’ chief executive officer and chairman, respectively, following the transaction. Coleman is the founder and former CEO and chairman of BEA Systems, which is now owned by Oracle, according to reports. Krause is an operating executive at Carlyle and based in California, according to his profile on the firm’s website.

Carlyle manages $188 billion of assets across 126 funds and 160 fund of funds as of 30 September, the firm said. It closed its Carlyle US Equal Opportunity Fund II this week on $2.4 billion, above its $2 billion target, as reported by Private Equity International.