Charlesbank Capital Partners closed its eighth private equity fund at $1.75 billion, exceeding its $1.5 billion target and reaching its hard cap, spokeswoman Maura Turner said.
Total capital raised in Charlesbank Equity Fund VIII exceeds the $1.5 billion raised by its seventh fund, which closed in July 2009.
Charlesbank invests in middle-market and growth capital financings, typically $50 million to $150 million per investment. Company executives expect to make 12 to 15 investments in its eighth fund.
Investors in the fund include the $23 billion Texas County & District Retirement System, Austin, and the $1.2 billion El Paso (Texas) Firemen & Policemen Pension Fund.