Lower mid-market firm Blue Sea Capital has raised $327m for its inaugural fund, beating its initial $270m target.
The Florida-based firm makes equity investments of up to $60m in companies with an EBITDA of up to $30m.
It is focused on the aerospace and defence, healthcare and industrial sectors.
LPs that have backed its debut fund include Texas Teacher Retirement System, which agreed to commit $15m in January this year.
Last November AltAssets revealed that the fund had gathered $192.7m from 15 LPs.
Six of Blue Sea’s investment team were formerly at Brockway Moran & Partners, a mid-market firm which was expected to launch its fourth fund in 2012.
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