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.

Hellman & Friedman has raised more than $35 billion since it was founded in 1984. The firm invests in software, Internet, digital and traditional media, financial services, business and information services, energy, industrial and health care companies.

The firm's investments include auto-repair chain Abra Auto Body & Glass, which it picked up in August, and Applied Systems Inc., an insurance software that it bought in November 2013. 

Simpson Thacher & Barlett LLP and Walkers acted as Hellman & Friedman's legal advisers.  

Several other private equity firms have closed funds recently. Earlier in November, Boston private equity firm Advent International closed a $2.1 billion fund that will invest in Latin America. Before that, in October, New Mountain Capital LLC closed a fund with $4.13 billion in commitments.