Gridiron Capital closed its largest flagship private equity fund ever, Gridiron Capital Fund IV, at its $1.35 billion hard cap, a news release said.
The new fund is also 59% larger than its predecessor, the $850 million Gridiron Capital Fund III, which closed in 2016.
The fourth fund's focus is expected to include North American-branded consumer, business-to-business and industrial companies.
Investors in Gridiron's fourth fund include the $25 billion Los Angeles Fire & Police Pensions and the $10.7 billion Sacramento County (Calif.) Employees' Retirement System.
