Veritas Capital's ninth fund grows to $15.3B
Gettyimages.com / Eugene Mymrin
By
Ross Wilkers
The firm cites continued investor interest in the U.S. government market and other highly regulated industries.
Veritas Capital’s ninth private equity flagship fund has grown to $15.3 billion in capital commitments from investors, representing a 6.2% increase from what was first touted in September when that vehicle initially closed.
With that addition announced Tuesday, Fund IX’s total amount exceeds its predecessor by 40% amid continued investor interest in the U.S. government market and other highly regulated industries.
The firm stayed active in raising more affiliated dollars through separately managed accounts to fetch that extra $900 million for Fund IX, Washington Technology has been told.
Veritas’ portfolio in the government market includes Peraton, which it acquired in 2017 and subsequently combined with Northrop Grumman’s IT business and Perspecta in separate transactions.
Back in the fall, Veritas purchased the midsized technology services provider MetroStar Systems through the former’s Vantage Fund that focuses on the market’s middle tier.
Arcfield is Veritas’ other major investment through the Vantage Fund, having been stood up in 2021 via a carve-out from its then-parent Peraton. Arcfield has gone on to make three acquisitions since, including its most recent purchase involving Rite Solutions to add more maritime work.