Estancia picks up $102m for Fund II

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Estancia Capital Management has gathered just over $102m of capital commitments for its sophomore buyout fund.

The firm aiming to raise up to $300m for Estancia Capital Partners Fund II and has already secured commitments from 34 limited partners so far, according to an SEC filing.

The Arizona-based firm is focused on investments in asset management, wealth management and related business services firms, according to its website.

The firm has cited a preference for small to lower middle market firms and has previously backed companies such as boutique equity manager Sustainable Growth Advisors.

In 2014, Estancia exceeded the $175m initial target of its maiden fund to register $180.6m of commitments from 44 LPs, a separate filing shows.

The filing indicates that Estancia was looking for $250m for its first fund but does not clarify whether the fund has been closed.

Fund I also secured a $5m commitment from the Illinois Municipal Retirement Fund in 2014.

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