Middle market private equity firm Waud Capital Partners has closed its fourth fund, Waud Capital Partners IV. The new fund, valued at $1.056 billion, surpassed the original target of $750 million.

WCP IV has raised $900 million from limited partners and another $156 million from general partners, focusing mostly on the health care, business services and technology sectors. Waud, based in Chicago, typically invests $50 million to $100 million of equity in deals.

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