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