Tenex Capital Management closed its latest middle-market buyout fund, Tenex Capital Partners III, at its $1.2 billion hard cap, the company announced in a news release.
The fund makes control investments in middle-market companies undergoing dynamic changes, such as corporate carve-outs or family-owned businesses experiencing operational changes.
The previous fund in the series, Tenex Capital Partners II, closed on $814 million in 2016.
Investors in the latest fund include the $137.9 billion New York State Teachers' Retirement System, Albany, and the $14.5 billion New Mexico Educational Retirement Board, Santa Fe.
Tenex spokesman Stephens Johnson could not be immediately reached for additional information.
