Houston-based Platform Partners closed its debut vehicle, Platform Partners Capital, at $129 million.
The fund, which surpassed the firm’s initial target of $100 million, will target senior equity and mezzanine debt investments in middle-market companies located in Texas and the southwest United States.
According to the firm’s press release, Platform Capital is structured as a perpetual investment company with an unlimited investment horizon, continuing the firm’s strategy of providing permanent capital to its portfolio companies.
Founded in 2006, Platform Partners currently manages around $450 million of assets.