Kirkland & Ellis advised Diversis Capital Management, LP, a Los Angeles-based private equity firm focused on investing in software and technology-enabled services organizations, which today announced the completion of Diversis Capital Partners II, L.P., with $675 million of total commitments just three months after formal launch. The oversubscribed fund includes a broad group of global investors and surpassed its target of $500 million, as well as exceeded its inaugural fund of $255 million raised in 2019.
The latest fund continues Diversis’s focus on making operationally focused control private equity investments in lower middle-market companies. Led by Managing Partners Ron Nayot and Kevin Ma, who co-founded the Firm in 2013, Diversis’s Fund II will invest primarily in businesses based in North America, and selectively in Europe and Australia.
The Kirkland team included investment funds partner Steve Yoo and associates Paul Kim, Aura Gilham and Onnolee Keland, investment funds regulatory partner Ryan Swan and associate Marc Sana, tax partner Joel Peters-Fransen and associate Ally Nelson, and employee benefits partner Elizabeth Dyer.