Just closed: Summit Partners raises $2.35bn

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Summit Partners has raised $2.35 billion for its Summit Partners Growth Equity Fund IX, according to a SEC filing. The Boston-headquartered firm began fundraising in 2015 with a $3 billion target.

Its previous fund raised $2.7 billion in 2012.

Investors that committed to Summit Partners Growth Equity Fund IX include the Alaska Retirement Management Board, the Texas County and District Retirement System and the Pennsylvania Public School Employees' Retirement System.

The fund will target growth equity opportunities in a diverse number of sectors globally.