Veritas Capital said it closed its ninth flagship private equity fund at $14.4 billion, exceeding its $13 billion target and hard cap as investor demand remained strong despite a tougher fundraising climate.
The close of Veritas Capital Fund IX marks a 35% increase from the firm’s prior vehicle, which raised $10.7 billion in 2022.
With the new fund, the New York-based firm now manages more than $54 billion across its strategies, cementing its position as a leading investor focused on technology and government-linked sectors.
Chief Executive Ramzi Musallam said the strong support underscored confidence in Veritas’s approach.
“In one of the most challenging fundraising environments in recent memory, strong demand for Fund IX is a clear endorsement of our strategy and platform,” he said.
Fund IX will target resilient, regulated industries undergoing transformation, including national security, healthcare, and infrastructure.
Veritas said these sectors are poised for long-term growth as software, data and artificial intelligence reshape markets.
The firm has long emphasized companies that provide mission-critical products and services to both government and commercial clients.
Founded in 1992, Veritas has built a reputation for domain expertise and a consistent investment model combining organic expansion and acquisitions.
The company said its track record has earned repeated recognition, including ranking among the world’s top 10 private equity managers by HEC Paris–Dow Jones for three consecutive years. In 2023, Preqin named it the top-performing U.S. buyout firm.
Veritas said it plans to continue leveraging technology to drive improvements in healthcare, education, energy transition and defense, with a focus on operational efficiency and innovation in markets of global importance.
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