Providence Equity Partners raises $6bn

The US manager has held a final close of its eighth equity fund above target.

Providence Equity Partners has reportedly held a final close of its eighth equity fund, Providence Equity Partners VIII, at $6 billion. The fund follows the same strategy as its predecessor and will make control equity investments in the firm’s core sectors: media, communications, education and information services.

Providence Equity Partners VII held a final close at $5 billion in July 2013.

Investors in Fund VIII include the New York State Common Retirement System ($250 million) and the Canada Pension Plan Investment Board ($220 million).