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Accel-KKR seals rapid fundraise for second Structured Capital fund, hits $325m

31 Mar 2014

dollar_macro_170sqTechnology-focused buyout house Accel-KKR has exceeded its target for its second Structured Capital Partners fund by pulling in $325m of commitments from LPs.

The fundraise brings Accel-KKR’s total assets under management to more than $2.5bn, and saw it easily outstrip the $180m it collected for its debut Structured Capital Fund in 2011.

The firm began raising Accel-KKR Structured Capital Partners II in early 2014 with a $250m target. The swift fundraise was helped by a pair of exits from its first Structured Capital fund, including the sale of N-able Technologies to SolarWinds for $127m in May last year.

Accel-KKR is currently also investing out of its fourth buyout fund, which closed on more than $800m of commitments in 2012.

The 14-year-old firm invests in middle market software and technology enabled service companies with revenues greater than $10m.

The firm invests in both majority ownership situations via its buyout funds and minority equity positions through its Structured Capital funds, and in recent years has expanded its geographic focus with investments in companies in Australia, England, Northern Ireland, Scotland and the Netherlands. Accel-KKR opened a London office in August 2013.

Partners and employees of Accel-KKR committed seven per cent of the capital to Accel-KKR Structured Capital Partners II, making the firm one of the largest investors in the fund.

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