PROVIDENCE – Providence Equity Partners Inc. has raised $12 billion in less than three months for a new fund to buy media and communication companies, Bloomberg News today reported, citing three people who declined to be identified.
A spokesman for Providence Equity declined to comment.
The new fund is nearly triple the $4.25 billion the firm raised in 2004.
Providence Equity is the world’s largest takeover firm focusing on media and telecommunications. Since its founding in 1990, it has raised $21 billion and made investments in more than 100 companies, Bloomberg said.
Additional company information is available at www.provequity.com.
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