BlackFin Capital Partners closed BlackFin Financial Services Fund III at €985 million ($1.1 billion), above its €750 million target, a news release said.
BlackFin Financial Services Fund III is 140% larger than BlackFin's second fund, which closed with €410 million in 2016.
The latest fund will invest in financial services companies, including payment providers, distribution and brokerage networks, asset managers, service providers, technology providers in continental Europe. BlackFin focuses on deals in which it is the company's first financial investor.
Investors in the new fund include the $58.4 billion Los Angeles County Employees Retirement Association, Pasadena, Calif.