Comvest Partners closed direct lending fund Comvest Credit Partners V at more than $1.3 billion, a news release said Wednesday.
The middle-market fund, which provides senior secured debt and unitranche credit facilities, has transactions ranging from $25 million to $250 million, the news release said. Its target was $1.25 billion, a spokesman said.
The previous fund, Comvest Capital IV, closed at $836 million in 2018, above its fundraising target of $650 million.
Investors in the latest fund include the $35.7 billion Texas County & District Retirement System, Austin, and the $10.3 billion New Hampshire Retirement System, Concord.
Comvest Partners has $4.7 billion in assets under management.
