Merit Capital Partners has raised $298 million for its Merit Mezzanine Fund VI, per a SEC filing. The Chicago-headquartered firm began fundraising in 2015 with a $500 million target.
Its previous fund raised $613 million in 2010.
Investors that committed to Merit Mezzanine Fund VI include the Minnesota State Board of Investment and the State of Wisconsin Investment Board.
The fund will target mezzanine opportunities in business services and industrial sectors in North America.