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Calera Capital raises $555m

The San Francisco-based firm closes fifth buyout fund well above target.

Calera Capital Partners V has held a final close at $555 million, surpassing its $500 million target with strong support from new and existing investors. The vehicle targets investments between $100 million and $750 million in mid-market companies operating in business services and speciality industrials.

The firm’s previous fund, Calera Capital Fund IV, held a final close at $700 million in January 2009. Investors in this vehicle included the Oklahoma Police Pension and Retirement System, The Bill and Melinda Gates Foundation and the Rochester Institute of Technology.