New York-based mid-market firm The Jordan Company closed its third fund Thursday on $3.2 billion, according to a statement.
The third Resolute Fund had an original target of $3 billion and will include a general partner commitment of more than $200 million. Fund III will target mid-market companies across a variety of industries, including industrial products and services, energy, chemicals, healthcare, and financial services. Target businesses will have enterprise values of between $100 million and $2 billion.
The Jordan Company did not use a placement agent to help with fundraising. The fund has received commitments from the Ohio Police & Fire Pension Fund, the New York State Teachers’ Retirement System and Danish pension Industriens Pension, according to Private Equity International's Research and Analytics division.
Fund III is managed by managing partners Jay Jordan, Jonathan Boucher, Richard Caputo, Adam Max, and Thomas Quinn.
Earlier this year, Jordan realized a $550 million exit from Haas Group, a chemical management services and distribution company, which it sold to Wesco Aircraft Holdings. The Jordan Company acquired Haas in 2007 using capital from its debut Resolute Fund, which collected $1.5 billion in 2002. The firm closed its second fund at $3.6 billion in 2008.