Houston-based private equity firm CapStreet Group has held a final close of $340m for its fourth fund, exceeding its initial target by $90m.
CapStreet IV took six months to raise and held its first close on $249.5m in December last year.
The fund is significantly larger than CapStreet’s third vehicle, which was closed on $178m in November 2010.
Like its predecessors, the new fund will make control investments in lower mid-market companies based in Texas and surrounding states.
CapStreet targets businesses with annual EBITDA of between $5m and $20m and with enterprise values of less than $150m.
Last month AltAssets reported that the fund had beaten its target, having raised $325m.
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