Serent Capital strikes $750m for biggest fund to date, believed to have hit final close


Serent Capital has raised its biggest fund to date by hauling in $750m for its fourth flagship vehicle, in what appears to be a final close.

The San Francisco-based private equity house was last in the fundraising market three years ago, capping off its third buyout fund at $572m.

Serent has outdone that amount with Fund IV, however, reaching its $750m goal with no more capital remaining to be sold, a filing the firm lodged with the US securities regulator shows.

The firm, which was founded in 2008, specialises in high-growth services and tech investments in the lower mid-market.

Serent kicked off 2020 by investing in integrated electronic payments provider ePayPolicy, which targets the excess and surplus insurance market.

The deal was the firm’s ninth payments investment and its tenth in the insurance market, following commitments to companies including Diamond Mind, Payliance, Intygral and Aftermath.

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