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Tailwind Capital closes third middle-market fund at $1.8 billion, above its target

Tailwind Capital closed its latest middle-market private equity fund, Tailwind Capital Partners III, at $1.8 billion, spokeswoman Kelsey Markovich confirmed in an email.

The fund's initial target was $1 billion.

Tailwind's previous middle-market fund, Tailwind Capital Partners II, raised $1.05 billion in July 2015, exceeding its initial target of $750 million.

Tailwind Capital Partners III will target investments in the health-care, business services and industrial services sectors throughout North America. Tailwind primarily targets companies that are valued at up to $250 million.

Investors in the fund include the $129.1 billion Washington State Investment Board, Olympia; $75.6 billion Oregon Public Employees Retirement Fund, Salem; and $7.7 billion Missouri Local Government Employees Retirement System, Jefferson City.