American Securities wraps up eighth fund at $7 bln

Fund Performance Sack Money

New York-based private equity firm American Securities has closed its eighth fund at a hard cap of $7 billion, beating its $6 billion target.

Fundraising for American Securities Partners VIII began last October.

The limited partners of ASP VIII include investors from 27 countries.

The fund will focus on making investments between $200 million and $600 million.

Weil, Gotshal & Manges LLP provided legal counsel for the fund.

In 2015, American Securities raised $5 billion for its seventh fund. No performance data on ASP VII was available.

According to American Securities, the firm is currently managing about $23 billion in capital commitments.

A white piggy bank with a pile of money. Photo courtesy of busypix/iStock/Getty Images

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