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Nautic Partners raises $1.5 billion for ninth private equity fund

Nautic Partners closed its latest middle-market private equity fund, Nautic Partners IX, at $1.5 billion, hitting its hard cap.

The fund was oversubscribed, a news release said.

Nautic Partners IX focuses on investments in the health-care, industrial products and outsourced services sectors. Nautic closed its previous fund, Nautic Partners VIII, in 2016 with $900 million of committed capital.

Investors in the current fund include the $29.2 billion Texas County & District Retirement System, Austin; and $7.8 billion Rhode Island Employees' Retirement System, Providence.

A Nautic spokesman declined to comment beyond what was in the release.