Gridiron Capital Fund III has held a final close at its hard cap of $850 million. The vehicle acquires controlling interests in niche manufacturing, business service and speciality consumer product businesses in North America.
Los Angeles Fire & Police Pension System and Montana Board of Investments are among the investors committed to the fund, both of which re-upped from the previous vehicle.
The firm’s second fund, Gridiron Capital Fund II, closed at $425 million in August 2012.
Ropes & Gray served as the vehicle’s legal counsel.
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