The Jordan Co., a middle-market private equity firm, closed its third private equity fund — The Resolute Fund III — at $3.2 billion, a spokesman for the firm said in an e-mail.
The fund had a target of $3 billion and hit its hard cap. The firm committed more than $200 million in capital. The new fund raised slightly less capital than the $3.6 billion The Resolute Fund II, which closed in December 2007, the spokesman wrote.
The Resolute Fund III will invest in companies with enterprise values between $100 million and $2 billion in a number of industries, including industrial products and services, energy, chemicals, health care and financial services.
Investors in the fund include the $23 billion Texas County & District Retirement System, Austin, $14.2 billion Ohio Police & Fire Pension Fund, Columbus, and $2.3 billion Houston Municipal Employees Pension System.