Ocean Avenue Capital Partners has raised $195 million for its Ocean Avenue Fund III, according to a SEC filing. The Santa Monica-headquartered firm began fundraising in 2015 with a $250 million target.
Its previous fund raised $160 million in 2014.
Investors that committed to Ocean Avenue Fund III include the Contra Costa County Employees' Retirement Association and the Tulare County Employees Retirement Association.
The fund will target growth and buyout opportunities in a diverse number of sectors in North America.