BV Investment Partners held a first and final close of its latest middle-market buyout fund, BV Investment Partners Fund X, at its $1.1 billion hard cap, spokesman Chris Tofalli said in an email.
The fund's target was $1 billion. Fund X is 47% larger than its predecessor fund, the $750 million BV Investment Partners Fund IX, that closed in 2017.
BV Investment Partners Fund X investors consist mostly of existing limited partners and include global foundations, public and corporate pension plans, financial institutions, family offices and individual investors.
Institutional investors in the fund include the $17.6 billion Arkansas Teacher Retirement System, Little Rock, and the $2.4 billion Arlington County (Va.) Employees' Retirement System.