Periscope Equity raises $104m

The Chicago-based private equity firm closes inaugural fund.

Periscope Equity has held a final closing of its debut fund, Periscope Equity I, at $104 million. The fund surpassed its target thanks to support from endowments, pension funds, foundations, funds of funds and family offices. Periscope Equity will use the capital to make buyout investments in technology-enabled business services companies covering sectors such as healthcare, marketing, security, software and BPO.

M2O Private Fund Advisors acted as the fund’s placement agent and Ropes & Gray provided legal counsel.