Pamplona Capital Management has raised a $1bn fund to invest in technology, media and telecommunications (TMT) companies across Europe and the US.
The fund will seek to invest in high-growth companies across sectors including: cloud computing, SaaS companies, mobile platform and services and industrial technologies.
According to a statement, the fund will consider control and minority investments; buyouts and recapitalizations; rollups and consolidations.
John Halsted, managing partner at Pamplona, said: “The creation of this $1bn dedicated TMT fund shows Pamplona’s very significant intent to actively participate in the shifting landscape inherent in these industries. We believe we have assembled the expertise and capital resources to take advantage of a number of exciting opportunities.”
Justin Perreault, a full-time partner will oversee the the fund, which will be based in Boston. Perreault will be joined by Darren Battistoni and Hiren Mankodi – both former investors at Welsh, Carson, Anderson & Stowe and Audax Group respectively.
First investment
The fund has already poured $50m in growth equity investment into Dyn, a US-based provider of internet performance management solutions.
Speaking about the investment, Perreault, said: “We are also pleased today to announce the fund’s first investment, a $50m growth equity investment in Dyn … We look forward to partnering with Dyn to help further capitalize on the exciting opportunities in their business.”
Dyn’s current customers include Pfizer, Visa, Netflix, and Twitter.