Alternative money manager H.I.G. Capital has closed buyout fund H.I.G. Capital Partners VI at $1.3 billion.
The fund, which invests in lower middle-market companies primarily in North America, exceeded its fundraising target, according to a news release Tuesday.
H.I.G. Capital Partners V closed at $1 billion in 2013.
Investors include the $83.8 billion Virginia Retirement System, Richmond, and the $30.7 billion Texas County & District Retirement System, Austin.
Doug Berman, head of U.S. private equity, and Jordan Peer, managing director, could not be immediately reached for further information.
