Investcorp, a global alternative investment firm, has closed its Investcorp North American Private Equity Fund I LP with over $1.2 billion in capital commitments.

Fund I focuses on control buyout investments in middle-market services businesses in North America. It currently has a portfolio of seven investments in companies across the strategy’s business services verticals. The investment strategy is focused on family- and founder-owned businesses across subsectors including tech-enabled, knowledge and professional, data and information, supply chain, industry and consumer services.

“We have a long and established history of investing in North America mid-market services companies, and we look forward to continuing to broaden and deepen our institutional investor base as this strategy continues to scale,” comments Mohammed Alardhi, executive chairman, Investcorp. “We are grateful for the trust that our institutional investors have placed in us during this time of greater uncertainty and a more challenging capital raising environment.”