Vestar Capital Partners had its first closing of Vestar Capital Partners IV, raising $2.3 billion. It expects to hold a final closing in late November, at $2.52 billion. The fund, which specializes in management buyouts and growth investments, was oversubscribed. It has 120 institutional investors and is now closed to new investors. Limited partners include the $82.6 billion California State Teachers Retirement System, Sacramento; $110 billion New York State Common Retirement Fund, Albany; $12.8 billion Iowa Public Employees Retirement System, Des Moines; $29.4 billion Virginia Retirement System, Richmond; $24 billion Massachusetts Pension Reserves Investment Management Board, Boston; $34 billion Minnesota State Board of Investment, St. Paul; and $29.8 billion Oregon Public Employees Retirement Fund, Salem.