Accel-KKR Raises $1.9 Billion for Novel ‘CV-Squared’ Transaction

Accel-KKR Co. gathered about $1.9 billion to extend its ownership of isolved, moving the human-resources software firm from one continuation vehicle to another one in a novel but increasingly popular type of deal known as “CV-squared.”

The tech-focused private equity firm first backed isolved in 2011 before shifting it to a continuation fund with several other portfolio firms about eight years later — extending the ownership of those companies longer than a typical holding period.

Accel-KKR, which backs mid-market companies, is prolonging its hold on isolved yet again with this latest single-asset continuation vehicle, according to a statement Friday ...