Falcata Capital has raised $1 billion for its first private equity fund, becoming the first firm in the US this year to hit 10 figures for its inaugural effort. Based in Houston, the firm will target companies in the enterprise software and tech-enabled services sectors with investments of between $50 million and $200 million.
The vehicle ties two others for the title of largest debut buyout fund closed in the US since the start of 2012, per the PitchBook Platform. And while those other two firms were led by alumni of private equity powerhouses, the background of Falcata’s founders is a bit more unorthodox.
Gamut Capital Management, which closed a $1 billion maiden fund in early 2017, is led by Stan Parker and Jordan Zaken, two former senior partners at Apollo Global Management. Cove Hill Partners, which wrapped up a $1 billion debut last September, was formed by one-time Bain Capital executive Andrew Balson.