Clearview launches Fund III

The firm is targeting $275m for its third fund after collecting $250m for Fund II in 2008.

Clearview Capital has launched its third fund that will target $275 million for investments in the lower mid-market, according to a person with knowledge of the firm.

Clearview, based in Old Greenwich, Connecticut, has been investing from Fund II, which closed on $250 million in 2008. Fund II was the firm’s first vehicle with capital from institutional investors, which included Credit Suisse, RCP Advisors, New York LifeEquity Partners and 747 Capital.

The firm’s debut fund raised $70 million from individuals and high-net worth family backers. Clearview did not return calls for comment. Clearview is working with Atlantic-Pacific Capital on the fundraising.

Clearview in December announced the exit of its investment in Hillsdale Furniture to an investor group led by Brookside Equity Partners and management, according to a statement from the firm. The investment was made through the firm’s first fund, the statement said.

The firm also recently announced promotions, including Matthew Blevins and James Tucker, who were named principals, and John Cerra, who was named chief financial officer.