London and New York based Pamplona Capital Management raises $1 billion for new TMT fund and makes inaugural investment in Dyn
Pamplona Capital Management LLP has announced that it has raised USD1 billion for Pamplona TMT Fund I, L.P., a dedicated fund that will make equity investments in technology, media, and telecommunications (TMT) companies. Pamplona expects the fund to invest in 12 to 15 companies, the first of which, Dyn, has been announced.
The fund will invest in high-growth companies in segments including cloud computing and SaaS companies, mobile platforms and services, and industrial technologies. The fund will consider both control and minority investments; buyouts and recapitalizations; and rollups and consolidations within its target sectors.
Pamplona Managing Partner John Halsted said: “The creation of this $1 billion 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, who joined Pamplona in December 2015 to make investments in technology sectors, will be a full-time partner in the TMT fund, whose team will be based in Boston, MA. Justin has over twenty years of information technology private investing and operating experience, and was previously a general partner at Commonwealth Capital Ventures.
First investment and new hires
Pamplona is also announcing the appointment of two additional partners to co-manage the fund, Darren Battistoni and Hiren Mankodi. Darren joins Pamplona from Welsh, Carson, Anderson & Stowe where he was a member of the technology investment team for eleven years and worked on a number of investments in the internet infrastructure, SaaS and cybersecurity sectors. Hiren joins Pamplona from Audax Group where he led investments in information technology, software, and industrial technology companies over the course of his twelve years with that firm.
Justin Perreault said: “We’re delighted to welcome Darren and Hiren to the team. Their deep knowledge across the technology spectrum will be invaluable as Pamplona builds its TMT investment portfolio. We are also pleased today to announce the fund’s first investment, a $50 million growth equity investment in Dyn,the leading provider of internet performance management solutions. We look forward to partnering with Dyn to help further capitalize on the exciting opportunities in their business.”
Dyn is a rapidly-growing cloud-based Internet Performance Management company based in Manchester, NH. Dyn provides unrivaled visibility and control into cloud and public Internet resources. Dyn’s platform monitors, controls and optimizes applications and infrastructure through Data, Analytics, and Traffic Steering, ensuring traffic gets delivered faster, safer, and more reliably than ever. Current customers include Pfizer, Visa, Netflix, and Twitter.
About Pamplona Capital Management:
Pamplona Capital Management is a London and New York based specialist investment manager established in 2005 that provides an alternative investment platform across private equity, fund of hedge funds and single manager hedge fund investments. Pamplona Capital Management, LLP manages over USD 10 billion in assets across a number of funds for a variety of clients including public pension funds, international wealth managers, multinational corporations, family offices and funds of hedge funds. Pamplona is currently managing its fourth private equity fund, Pamplona Capital Partners IV LP, which raised $4 billion in 2014. Pamplona invests long-term capital across the capital structure of its portfolio companies in both public and private market situations. Please see Pamplonafunds.com for further information.
Source: Pamplona Press Release