Private equity firm Arsenal Capital Partners has completed fundraising for its latest fund with $875 million in committed capital.
The fund, called Arsenal capital Fund III LP, exceeded its target of $750 million. The firm has completed four investments and deployed about $195 million in equity capital under the fund.
Arsenal’s previous fund was raised in 2006 with $500 million of committed capital. The firm now has more than $1.6 billion in capital under management.
New York-based Arsenal focuses exclusively on deals between $50 million and $250 million in enterprise value. The firm focuses on specialty industrial and health care companies.
In January, the company bought Research Dataware LLC, a software developer. In December the firm bought Adhesives Packaging Specialties Inc. to add to Royald Adhesives and Sealants LLC. It was Royal Adhesives 10th add-on acquisition since chief executive Ted Clark bought the company in 2003.
Forbes Private Capital Group acted as Arsenal’s placement agent and Kirkland & Ellis LLP served as the firm’s legal counsel.