Private equity firm MidOcean Partners LP closed its latest fund at a hard cap of $1.2 billion.

The MidOcean Partners V LP fund, which had an initial target of $1.0 billion, will invest in middle-market companies in the consumer and business services sectors.

The fund recently closed investments in five portfolio companies, including Florida Food Products and information services provider Questex.

Kirkland & Ellis LLP advised the firm on the fund raise.