JPEL Private Equity said that on 29 Sep, Berkshire Partners announced an investment in Accela, a leading provider of civic engagement software solutions for state, county and municipal governments.

The sale of Accela resulted in an investment return of approximately 2.05x and an IRR of approximately 35% for JPEL.

As part of the transaction, JPEL received proceeds of approximately $29m. JPEL held an indirect interest in Accela and will remain an investor in the company.

At 30 Jun, Accela represented 8% of JPEL's private equity investments and was JPEL's 3rd largest underlying investment.