Private equity firm GI Partners, during a has closed a fund with $2 billion in commitments.
The fund, GI Partners Fund IV, surpassed its $1.5 billion fundraising target. GI Partners Fund IV will make control investments in North American middle market companies. The firm invests in information technology infrastructure, health care services, retail and leisure and financial and real estate services.
Mergers & Acquisitions indicated in August that the firm was raising funds.
The Menlo Park, Calif.-based firm has managed more than $6 billion in capital across four funds and invested in 38 platform companies since it was founded in 2001. The firm is currently invested in Ladder Capital, Stag Industrial and Wave Broadband.
UBS Securities service as placement agent, and Kirkland & Ellis LLP acted as legal counsel.
For more on the improved fundraising environment, see "Capital Commitments: 5 Winning Fundraising Strategies."