ACON Investments has raised $966 million for its ACON Equity Partners IV, according to a SEC filing. The Washington, D.C.-headquartered firm began fundraising in 2015 with a $1 billion target.
Its previous fund raised $751 million in 2013.
Investors that committed to ACON Equity Partners IV include the New York State Common Retirement Fund, the Oregon Public Employees' Retirement System and the California State Teachers' Retirement System.
The fund will target buyout opportunities in a diverse number of sectors in the United States.