American Securities raises $7bn

The New York-based private equity group closes largest fund to date.

American Securities Partners VIII has held a final close at its $7 billion hard-cap, exceeding its original target of $6 billion. The vehicle will pursue the same strategy as its predecessors, investing in the healthcare, industrial, consumer, information, media, and services sectors across North America.

Investors from 27 countries around the world contributed capital to the fund.

American Securities Partners VII previously held a final close at $5 billion in January 2015.

Weil, Gotshal & Manges provided legal counsel to American Securities Partners VIII.