San Francisco private equity firm Hellman & Friedman LLC has closed a $10.9 billion fund during the best fundraising climate in years. 

The fund, Hellman & Friedman Capital Partners VIII, will target investments between $300 million and $1 billion in companies in the U.S. and Europe. The firm started raising the fund in June, and surpassed its $10.25 billion hard cap after a $500 million general partner investment and additional "friends and family" investments, the firm says.

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