H.I.G. Capital closed its H.I.G. Middle Market LBO Fund III with $3.1 billion in capital commitments, the company announced in a news release. The fund will make private equity investments in middle-market companies, primarily in North America.
Investors include the $82 billion Virginia Retirement System, Richmond; $31.9 billion Texas County & District Retirement System, Austin; and the $14.9 billion Augusta-based Maine Public Employees' Retirement System.
The previous fund in the series, H.I.G. Middle Market LBO Fund II, closed on $1.75 billion in commitments in 2014.
Rick Rosen, executive managing director, could not be immediately reached for additional information.