Mid-market private equity firm Windjammer Capital has beaten its target for its Senior Equity Fund IV by holding a $726m final close.
The fund, which was aiming to raise $700m, follows Windjammer’s $574m third fund raised in 2006.
Boston-headquartered Windjammer said it raised the fund from institutional investors including US pension funds, fund of funds and European government institutions.
The fund will be focused on businesses with EBITDA of between $10m and $40m operating in the advanced manufacturing, specialty distribution and business services sectors.
Windjammer managing principal Bob Bartholomew said, “Our disciplined strategy of picking high quality businesses and dedicating significant time and effort to enhance the operational and strategic strengths of each platform is a key source of our past success and will be the cornerstone of our strategy going forward.”
Since its inception in 1990 Windjammer has managed funds totalling $2bn and has made 49 investments.
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