TheDeal.com - TA Associates raises $4.3B

"Boston private equity firm TA Associates Inc. said Monday, March 27, that it has completed raising $4.3 billion in investment capital, including $3.5 billion for its tenth equity investment fund and $775 million for a subordinated debt fund.
Along with an $800 million offshore fund raised in 2004, TA has drummed up $5.08 billion in third-party money the last two years. That bankroll makes it one of the country�s largest buyout firms.
In Boston, TA ranks third or fourth in actively managed assets, surpassed only by Thomas H. Lee Partners and Bain Capital LLC and roughly on a par with Advent International Corp.
The firm�s previous equity fund, raised in 2000, had $2 billion in committed capital.
�The fundraising went well,� said TA partner Brian Conway. �Something like 90% or 95% was people re-upping. The new ones who came in were largely long-term TA relationships who had moved to new institutions.�
As was true with the ninth fund, TA will charge limited partners a 25% �carry,� or cut of gross profits in investments made through the new fund. Most private equity funds have a 20% carry. "