Altas Partners closed its second North America buyout fund, Altas Partners Holdings II, at its $3 billion hard cap, spokesman Kevin Siegel said in an email.
The new fund is triple the amount of the firm's $1 billion debut fund, Altas Partners Holdings I, which closed in 2016.
The fund has a flexible time horizon and is expected to invest in one or two businesses each year.
Investors in the fund include the $11.6 billion Louisiana State Employees' Retirement System, Baton Rouge; $14.6 billion Ohio School Employees Retirement System, Columbus; $7.6 billion Alameda County Employees' Retirement Association, Oakland; and $4.3 billion San Mateo County Employees' Retirement Association, Redwood City, Calif.
