New State Capital Partners LLC closed its second institutional investment fund with $255 million in committed capital.
New State Capital Partners Fund II LP exceeded the target and closed at its hard cap, the company said. The company now has in excess of $800 million in assets under management.
With the new fund, the company can invest more than $50 million in equity per transaction. It plans to invest in five to seven platforms and is targeting investments in the business services, healthcare services and industrials sectors.