American Securities Capital Partners closed its third private equity fund, American Securities Partners III, with $650 million in commitments, well above its $500 million target. Investors include the $12.5 billion endowment of Howard Hughes Medical Institute, Chevy Chase, Md.; $11.2 billion endowment of University of Texas, Austin; $5.4 billion American Airlines pension fund, Fort Worth, Texas; $18 billion E.I. du Pont de Nemours & Co. pension fund, Wilmington, Del.; and the $120 billion New York State Common Retirement Fund, Albany.