OceanSound Closes $1.49B Raise on Second PE Tech Fund

OceanSound Partners has made a $1.49B final close on its second fund, which seeks investments in technology and technology-enabled services companies supporting government and highly regulated enterprise end markets.

In an October 1 press release, the New York-based private equity firm said that, along with affiliated co-investment vehicles and a single-asset continuation fund closed in April, it has raised over $2.15B in committed capital in connection with OceanSound Partners Fund II. The fund was oversubscribed, with nearly all Fund I investors returning.

Fund II closed at its revised cap, well above its original hard cap of $1.3B and target of $1B, also representing a substantial increase over Fund I’s $780M raise that closed in February 2022. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel for OceanSound.

View the press release here.