US mid-market firm The Jordan Company has collected about $1.08 billion for its Resolute Fund III, according to documents filed with the US Securities and Exchange Commission.
Fund III launched earlier this year with a $3 billion target and will continue to invest using the same buy-and-build strategy of the firm’s previous two funds, backing businesses with enterprise values between $100 million and $2 billion in a variety of industries, including aerospace and defense, energy, consumer products, healthcare and financial services.
Jordan closed its Resolute Fund II on $3.6 billion in 2008.
Limited partners in Fund III include the Public Employees Retirement Association of New Mexico, which made a $45 million commitment to the fund in August, according to pension documents.
Other LPs include the Texas County and District Retirement System and Danish pension Industriens Pension, according to Private Equity International’s Research and Analytics division.
Fund II is more than 80 percent invested. Earlier this month, the firm acquired Watchfire Technologies, a manufacturer of outdoor digital display products. In January, Jordan Company closed the acquisition of logistics and transportation business American Fast Freight, PEI reported earlier.
Headquartered in New York with offices in Chicago and Shanghai, The Jordan Company manages more than $5 billion of committed capital.