The Jordan Co. closed its latest middle-market buyout fund, The Resolute Fund V, at $5 billion.
The oversubscribed fund closed above its hard cap of $4.5 billion, a spokeswoman for The Jordan Co. said in an email.
The Resolute Fund V invests in middle-market businesses across consumer and health care, industrials, logistics and supply chains, technology, telecom and utility sectors; the fund is already 50% allocated, according to the news release.
Among the companies into which the fund has already invested are AIT Worldwide Logistics and Specialty Building Products.
"COVID-19 related disruption has accelerated 10-years of digital innovation and highlighted the need for technological improvements across our industry verticals, creating an increasing number of compelling opportunities," said Rich Caputo, The Jordan Co.'s chief executive partner, in the news release.
The prior fund, The Resolute Fund IV, closed at $3.6 billion in 2018. That fund, also oversubscribed, had a hard cap of $3.2 billion.
Investors in The Resolute Fund V include the $321.9 billion California State Teachers' Retirement System, West Sacramento; the $157.9 billion State of Wisconsin Investment Board, Madison; the $41 billion Alaska Retirement Management Board, Juneau; the $38.1 billion Nebraska Investment Council, Lincoln; the $17.1 billion New Mexico Public Employees Retirement Association, Santa Fe; and the $7.3 billion Houston Police Officers' Pension System.
As of Sept. 30, The Jordan Co. had $18.6 billion in assets under management.