Cressey & Company has closed its fifth fund on its $615 million hard cap, beating the original $400 million target. Cressey held a single close for Fund V, which launched in July, on its hard cap, the firm said in an announcement Monday.
The pool will focus on investing in the North American healthcare sector.
Fund IV closed on $385 million in 2010. Cressey & Company Fund IV was generating an internal rate of return of 24 percent with a 1.75x multiple as of June 30, 2014, according to data provider Bison.
No placement agent was used for Fund V.
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