GI Partners, a middle-market private equity manager, announced Thursday the closing of its $2 billion GI Partners Fund IV, surpassing its $1.5 billion fundraising target.
The fund makes “control-oriented, deep value investments in North American middle-market companies,” according to a news release. The company's Fund III closed in 2009 with capital commitments of $1.9 billion.
Investors in Fund IV include the $176.5 billion Florida State Board of Administration, Tallahassee; $98.1 billion Washington State Investment Board, Olympia; Ohio Public Employees Retirement System, Columbus, which includes $75 billion in defined benefit plan assets; and $40.8 billion Illinois Teachers' Retirement System, Springfield.
Spokesman Chris Tofalli said the company would not provide further information.