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New Capital Partners reaches $225m target for Fund III

4 Jul 2014

texasTexas-based private equity firm New Capital Partners has hit its $225m target for its third fund.

The firm is thought to have held a final close on the amount, which was revealed in an SEC filing, but managing partners Jim Little and James outland did not reply to a request for more details.

Lazard Freres acted as a placement agent for the fund in the US, while its UK affiliate was also hired to help attract European LPs to the vehicle.

The latest vehicle is significantly bigger than Fund II, which the firm closed on $140m in 2009.

Atlantic-Pacific Capital acted as a placement agent for that fundraise.

New Capital targets high-growth companies primarily based in the southeastern US and Texas.

The firm focuses on the healthcare services and IT, financial services and business services sectors, and looks to back companies with revenues of more than $5m.

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