Hammond Kennedy Whitney & Co. Inc. (HKW) has closed a private equity fund with $316 million in commitments.

The fund, HKW Capital Partners IV, exceeded its initial $300 million target. The fund will focus on investing in lower middle market companies in North America, especially energy services, infrastructure and medical products companies.

The new fund's investors include pension funds, six insurance companies four fund of funds, two state pension funds and one university endowment.

Right now, Indianapolis-based HKW has four portfolio companies: Brant Instore Corp., a marketing services group; Mobile Tech Inc., a merchandising and loss-prevention company; Specialized Desanders Inc., a developer of sanding services for the oil and gas industry; and EnerSafe Inc., a safety equipment provider for the oil and gas industry.

The firm's previous fund, HKW Capital Partners III, closed with $225 million in commitments. The fund before that, HKW Capital Partners II, closed with $100 million in commitments.

Kirkland & Ellis LLP was HKW's legal counsel.

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