Lovell Minnick Partners has completed fundraising for its latest buyout fund, Lovell Minnick Equity Partners V, at $1.28 billion, exceeding its $1 billion target and achieving its hard cap, spokesman Kelly Holman confirmed.
Fund V will invest in middle-market companies in the Americas and Europe. Although Lovell Minnick will generally target equity investments of $40 million to $150 million, it anticipates making larger investments with co-investors.
The firm's previous fund in the series, Fund IV, closed on $750 million in 2015.
Investors in Fund V include the $111.1 billion New York State Teachers' Retirement System, Albany, and the $69.3 billion Massachusetts Pension Reserves Investment Management Board, Boston.