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EBF & Associates beats $750m target for fourth Merced fund

12 Nov 2013

dollar large_sqAlternative investment firm EBF & Associates has beaten its target for its fourth Merced fund by holding an $800m final close on its hard cap.

Merced Partners IV will continue to target investments in niche financial instruments and hard assets according to the firm, which said it would aim to spend between $10m and $100m per deal.

The fund, which had a $750m target, is about one-third larger than the $567m third fund EBF closed in December 2010.

That came four years after the firm gathered $474m for its second vehicle.

AltAssets revealed in July that the firm was well on the way to its target after registering $439m with the US Securities and Exchange Commission.

LP committing to the fund include the Minnesota State Board of Investment, which approved a $125m investment in Merced Partners IV this month.

EBF managing director David Ericson said, “With strong early support from prior EBF investors, and interest from a meaningful number of new limited partners, demand not only exceeded our original target but our hard cap as well.

“EBF principals are committing significant capital, firmly aligning our interests with those of our limited partners. I would like to thank all of our investors for their confidence.”

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