STG Allegro II exceeded its $950 million target and builds upon the momentum of the inaugural Allegro fund
MENLO PARK, Calif.–(BUSINESS WIRE)–STG (the “Firm”), a leading private equity firm focused on investing in the enterprise software sector, is pleased to announce the final closing of STG Allegro II (together with its related vehicles, the “Fund”) on over $1.3 billion of committed capital, including $1.26 billion of limited partner commitments.
STG Allegro II builds upon the momentum of the inaugural STG Allegro Fund and continues the Firm’s operationally focused, value-oriented investment strategy in the lower mid-market, targeting investments in enterprise software companies. The Fund exceeded its $950 million target set at the launch of the fundraise, was significantly oversubscribed, and closed at its hard cap in under four months.
For more than 20 years, STG has been an operationally-focused partner to over 60 global enterprise software companies, helping to drive their transformations. Since its founding in 2002, STG has demonstrated its continued ability to drive operational efficiencies, top-line enhancement, and breakout innovation within its portfolio companies. STG has raised nearly $14 billion across its private equity investment funds and has completed more than 140 investments, including both platform and add-on investments.
STG Allegro II received strong support from existing investors in both its Allegro and Flagship Mid-Market strategies and from an expanded base of new investors globally. The Fund attracted a diverse mix of institutional investors, including public and corporate pension funds, insurance companies, endowments and foundations, fund of funds, family offices, consultants, and asset managers globally.
On behalf of the leadership team of the Firm, William Chisholm, Managing Partner and Chief Investment Officer, commented: “We are incredibly grateful to our existing and new investors for their support and confidence in our team and the Allegro strategy. We believe STG’s playbook is well positioned to capitalize on the opportunity we see for value-oriented investing in the lower mid-market.”
Evercore Private Funds Group acted as STG’s exclusive fundraising advisor and global placement agent. Ropes & Gray, LLP served as fund counsel.
About STG
STG is a private equity partner to market-leading companies in data, software, and analytics. The firm brings experience, flexibility, and resources to build strategic value and unlock the potential of innovative companies. Partnering with a goal to build customer-centric, market winning portfolio companies, STG seeks to create sustainable foundations for growth that bring value to existing and future stakeholders. STG’s expansive portfolio has consisted of more than 60 global companies. For more information, please visit www.stg.com.
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Gloria Consola
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