HGGC Fund II, a North American middle-market private equity fund, closed at $1.33 billion, exceeding its $1 billion target and $1.25 billion hard cap, spokesman Tom Faust said in an e-mail.
The firm kept the new fund at a similar size to the firm's debut fund, which closed in 2009, “in order to replicate the firm's successful middle-market control-investing strategy and provide significant co-invest opportunities,” Mr. Faust said.
Among the investors is the $52 billion Pennsylvania Public School Employees' Retirement System, Harrisburg.
