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Report: Veritas Capital to raise $6B for 7th flagship fund

Middle-market private investment firm Veritas Capital Fund Management LLC is raising its seventh flagship fund with a hard cap of $6 billion, Private Equity News reported, citing a person familiar with the matter.

The Texas County & District Retirement System in Austin, Texas, committed $125 million to the Veritas Capital Fund VII LP on Aug. 16, while the Ohio Police & Fire Pension Fund in Columbus, Ohio, committed $20 million to the fund in June, according to the report.

The latter's commitment to Fund VII was substantially less than the $35 million it agreed to inject into the investment vehicle, the report noted. A spokesman for the Ohio fund said the $20 million commitment represented a decrease in overall allotments to the private equity sector in 2019.