BOSTON, October 13, 2026 – Proskauer advised Spectrum Equity (“Spectrum”) on the closing of its Fund XI, which raised a total of $2.5 billion in an oversubscribed single close. Fund XI is Spectrum’s largest fund since its founding in 1994, continuing the firm’s measured approach to fund size growth. In Fund XI, Spectrum will maintain its focus on rapidly growing, capital-efficient, founder-led companies, spanning software, artificial intelligence, and data services.

The Proskauer team was led by partners Brian Schwartz and John Beck (Private Funds) and included associates Sunghyo Kim, Davis Zosel, Sofia Aizenman, and Abigail Rosovsky (Private Funds); partners Scott Jones and Phil Lenertz and associates Kendall Keshtkar and Jacqueline Watson (Tax); and partner John Verwey (Regulatory).

About Proskauer

Proskauer is an elite global law firm with more than 900 lawyers in key financial centers in the United States, Europe, South America, and Asia. Our clients include many of the world’s leading businesses, including asset managers, banks, listed corporations, and private companies. We have deep expertise in several of the fastest-growing and dynamic segments of the market, including sports, technology, life sciences, and health care. We represent hundreds of asset managers across a wide spectrum of sectors and strategies, including private equity, private credit, hedge, real assets, secondaries, and capital solutions.

Proskauer offers a full suite of services for the investment management industry, with a market-leading global team dedicated solely to advising investment funds, including private equity, venture, credit, hedge, real assets, and secondaries funds, as well as other asset managers, financial institutions, and institutional investors. The cross-border team of over 250 lawyers is based in the U.S., UK, France, and Latin America and includes specialists in fund formation, secondaries transactions and liquidity solutions, tax, ERISA, regulation, financial services, capital markets, M&A, employment, insurance, fund finance, litigation, and risk management who understand the unique technical and commercial issues relevant to investment managers.