Thomas H. Lee Partners closed its latest flagship fund, Thomas H. Lee Equity Fund IX, at its hard cap of $5.6 billion.
The fund closed above its initial fundraising target of $4.25 billion, a spokeswoman said in an email. The buyout fund focuses on investments in middle-market growth companies in sectors including technology and innovation, a news release said Monday.
The previous fund, Thomas H. Lee Equity Fund VIII, closed at its hard cap of $3.6 billion in 2018, above its initial fundraising target of $3 billion.
Investors in the current fund include the $95.7 billion Massachusetts Pension Reserves Investment Management Board, Boston; $62.9 billion Illinois Teachers’ Retirement System, Springfield; and $26.9 billion Louisiana Teachers’ Retirement System, Baton Rouge.
As of Dec. 31, 2020, Thomas H. Lee Partners had $13.1 billion in assets under management.