Arsenal Capital Partners has closed its fourth private equity fund, called Arsenal Capital Fund IV LP, at $1.3 billion. The firm has raised nearly $2.98 billion in investments since its inception in 2002.

Headquartered in New York City, Arsenal is a lower middle market private equity firm focused on industrial and healthcare companies with up to $250 million in enterprise value. More than 85 percent of previous investors re-upped in Fund IV. The remaining portion are new investors such as California State Teachers’ Retirement System, PensionDanmark and Sentry Insurance. Previous investors who committed to Fund IV include: The Regents of University of California, Northwestern Mutual and PPM America.

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