Arsenal Capital Partners raises $2.36bn

The New York-based private equity firm held a final close of its fifth middle-market buyout fund.

Arsenal Capital Partners held a final closing of its fifth fund, Arsenal Capital Partners V, at $2.36 billion. The fund nearly doubled the size of its predecessor, Arsenal Capital Partners IV, which closed in October 2016 at $1.30 billion.

Committed capital will be used to invest in middle market healthcare and industrial companies throughout North America and Europe. The fund received investments from several limited partnerships including CalSTRS, Minnesota State Board of Investment, The Regents of the University of California, PKA AIP A/S and affiliates of APG Asset management.

Founded in 2000, Arsenal Capital Partners invests in healthcare and industrial companies ranging between $100 million and $500 million in size. Kirkland & Ellis LLP was the legal counsel for Fund V.