Ford Financial Fund, which invests in community banks, collected more than $1 billion for Ford Financial Fund III LP at closing.
Fund III, which is Ford Financial's largest fund ever, closed in conjunction with Mechanics Bank's purchase of its California-based peer Rabobank NA. Commitments to the fund came from new and existing investors.
The general partner's commitment to Fund III and Fund II totals $155 million. Both the newly closed and predecessor funds are fully invested in Mechanics Bank, which is majority owned by the private equity firm, according to a release.
