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Valor Equity Partners closes fourth growth fund at $1.05 billion

Valor Equity Partners has closed its fourth private equity growth-focused fund at $1.05 billion, a news release said.

Through Valor Equity Partners Fund IV, the company expects to make both controlling and non-controlling investments generally between $25 million and $75 million.

Its predecessor fund, Valor Equity Partners Fund III, closed at $490 million in 2015.

Investors in the fund include the $356.6 billion California Public Employees' Retirement System, Sacramento; the $224.4 billion California State Teachers' Retirement System, West Sacramento; the $109.2 billion New York State Teachers' Retirement System, Albany; the $40.9 billion Illinois Municipal Retirement Fund, Oak Brook; and the $2.3 billion Houston Municipal Employees Pension System.

A spokesman for Valor could not be immediately reached for comment.