TA closes special double-down fund

The vehicle does not charge LPs management fees but collects them from portfolio companies instead.

  • Fund name: TA Select Opportunities Fund
  • Amount raised: $1 billion
  • Target size: $1 billion
  • Stage of fundraising: Final close
  • Final close date: November 2019
  • Time on the road: 3 months
  • Management fee: 0%
  • Carried interest: 20%

TA Associates quietly closed TA Select Opportunities Fund in November 2019. The fund takes minority stakes in select portfolio companies that its main fund series is selling as a way to hold those investments longer. In such deals, TA’s main funds would likely retain a minority stake, with the Select Opportunities Fund co-investing in the companies alongside third-party investors.