US private equity firm Hammond Kennedy Whitney & Co has held a $316m final close for its fourth buyout fund.
HKW was hoping to gather up to $350m for the fund according to a previous filing with the US Securities and Exchange Commission, although it is unclear whether that figure was a target or a hard cap.
AltAssets revealed last summer that the firm had pulled in more than $127m from eight LPs after about a year on the road.
HKW gathered $202m for its third fund in 2007.
About 80 per cent of commitments for the latest vehicle came from institutional investors, the firm said, including two state pension funds, a university endowment, four funds of funds, and six insurance companies.
The firm is focused on management buy-outs of companies with revenues of between $20m and $200m and an EBITDA of $5m to $30m.
It makes investments ranging in size from $20m to more than $150m.
Copyright © 2014 AltAssets