HGGC Fund III, a North American middle-market private equity fund, closed at $1.84 billion, exceeding its $1.5 billion target and $1.75 billion hard cap, said a spokesman.
HGGC's previous middle-market private equity fund, HGGC Fund II, closed in 2015 at $1.33 billion, exceeding that fund's $1 billion target and $1.25 billion hard cap.
The fund invests across various sectors, including business and financial services, technology and information services, and industrial services.
Investors include the $50.2 billion Pennsylvania Public School Employees' Retirement System, Harrisburg.
