Fund name: STG Allegro
Amount raised: $860 million
Target size: $500 million
Stage of fundraising: Final close
Final close date: October 2021
Time on the road: Four months
Legal adviser: Kirkland & Ellis LLP
Symphony Technology Group has announced the final close of STG Allegro at $860 million, according to a press release from the firm. The fund was oversubscribed and exceeded its $500 million target after just four months in market.
The fund will invest into lower mid-market companies in the TMT sector, focusing on software and software-enabled technology. The institutional investor base of the fund included public pensions, family offices and endowments in both North America and Europe.