Avista Capital Partners, whose founder Thompson Dean decamped from Credit Suisse two years ago, has just closed a $2 billion fund that rivals the size of the investment bank’s buyout arm, Financial News reports.
Avista said it had a final close on its debut fund at $2 billion, far above its fundraising goal of $1.5 billion. Avista has already committed $1.1 billion of the fund through investments in 14 companies since last spring.
The partners of Avista, including Dean and president Steven Webster, are the largest group of investors in the fund, having put in $161 million. The new fund has 60 limited partners, ranging from pension funds and endowments to wealthy individuals and family offices.