Hedge fund Two Sigma has raised $1.2bn for its first private equity fund through its Sightway Capital investment unit.
The firm said Sightway Capital I would be used to build companies in financial services and real assets, areas it describes as “asset intensive and data rich”.
LPs backing the fund include the Massachusetts Pension Reserves Investment Trust, which agreed to commit up to $500m earlier this year.
Two Sigma, a quantitative hedge fund investor launched in 2001, began private equity investing in 2008 to diversify its returns.
The firm focuses on data science and tech to make its investments and build its portfolio businesses.
Sightway CIO Wray Thorn said, “With the closing of our first fund and the support of our new partners, we believe Sightway Capital is well positioned to build on the current momentum of our portfolio companies.”
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