Baltimore- based JMI Equity will invest $32 million in Rsam, a provider of governance, risk and compliance solutions.
The New Jersey-based company will use the investment to expand its feature set and customer solutions. Rsam is the market leader in providing governance, risk and compliance solutions.
JMI declined to comment on the transaction.
The firm is currently investing from JMI Equity Fund VIII which closed on $1 billion in August of last year, as PEI reported.
Known investors in the fund include the Pennsylvania State Employees’ Retirement System, which allocated up to $25 million to the fund in June. The firm itself has also committed $30 million to the fund according to Private Equity International’s research and analytics division.
JMI Equity most recently exited its interest in PowerPlan a budgeting services provider. The firm was acquired by Thoma Bravo for an undisclosed sum.