Parallax Capital Partners closes first institutional fund


california2_sqPrivate equity firm Parallax Capital Partners has secured over $115m for its first institutional fund.

LPs that backed the fund include including foundations, endowments, pensions, and consultants.

The vehicle, which has already made three deals, is focused on acquiring controlling stakes in lower mid-market software and related technology companies with revenues of $5m to $100m.

Since its inception in 1999 Parallax has invested $250m across 20 deals. In September last year Parallax and peer StepStone bought a majority interest in IdenTrust, which provides online fraud protection and regulatory compliance.

Parallax founder and managing partner Jim Hale said, “We are grateful for the support from our highly respected limited partners, and we are sharply focused on investment strategy that we have used in the past.”

Atlantic Pacific acted as the global placement agent for the fund.

Copyright © 2014 AltAssets