Landmark Partners has closed a fund with $3.25 billion in commitments.

The fund, Landmark Equity Partners XV, was oversubscribed and exceeded its initial $2.5 billion target. The firm’s previous fund had $2 billion in capital commitments.

Landmark, headquartered in Simsbury, Connecticut, invests in the secondary market and focuses on acquiring portfolios of limited partnership interests in private equity funds and interests in privately-held companies.

The new fund brings Landmark’s committed capital to $15 billion under management. The fund’s investors include sovereign wealth funds, public pensions, corporate pensions, insurance companies, asset managers and foundations.

Kirkland & Ellis LLP advised Landmark on the fund.  

Several firms have closed funds recently, including NGP Energy Capital Management, which closed a $5.3 billion fund earlier in January, and Five Point Capital Partners , which closed a $450 million fund, also in January.

For more on private equity fundraising trends see, PE Fundraising May Have Peaked.