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Tower Arch Capital closes fund at $450M

Private equity firm Tower Arch Capital LP closed its Tower Arch Partners II LP fund at a hard cap of $450 million.

The commitments were made by current and former management team members, foundations, diversified financial institutions, university endowments, and family investment offices.

The fund, which was substantially oversubscribed, will focus on the lower middle market, targeting growth opportunities for small businesses.

Shannon Advisors served as placement agent, while Kirkland & Ellis served as legal counsel.