Symphony Technology Group raises $860m

The California-based fund manager has held a final close for its corporate private equity fund.

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.