New StateCapital Partners LLC has closed its New State Capital Partners FundLP with $131 million of equity commitments.
A range of institutional investors including pension plans, foundationsand family businesses invested in the fund. New State intends to invest $10million to $45 million in equity per deal, with the average transaction atroughly $30 million.
Founded by David Blechman, a former managing director atH.I.G. Capital LLC,New State plans to tailor its investment strategy to companies in healthcareservices, business services and the industrials segment, the company said.