Balance Point Capital Advisors LLC raised approximately $380 million in capital in the final close of its latest fund.

The Balance Point Capital Partners III LP fund, which surpassed its fundraising goal of $300 million, will back lower-middle-market companies.

The oversubscribed fund attracted commitments from new and existing investors, including pension funds, insurers and other asset allocators.

Lazard was placement agent to Balance Point for the fundraising.