Summit Partners raises a $1.56b fund

Summit Partners, a Boston venture capital and private equity firm, has raised a $1.56 billion European buyout fund.

Summit said the private equity fund will be its first dedicated exclusively to investing in mid-size and growth companies across the Atlantic.

Summit, which has offices in London, and Palo Alto, Calif., has also raised an $825 million subordinated debt fund, its fourth, boosting the amount of capital it can invest in deals.

Combined with Summit’s existing funds, the two new funds bring the firm’s total capital available for investment to nearly $6 billion.
(By Robert Weisman, Globe staff)