Primus Capital Partners has closed its sixth fund on $275 million (€184 million), surpassing its initial target by $25 million.
Placed by The William Blair Fund Placement Group, the fund’s partner base includes, banks, insurance companies, fund of funds, family offices and public pension funds, such as The Ohio Police & Fire Pension Fund, which committed $100 million to the fund last year.
The Cleveland-based firm will continue its strategy of making growth equity financings, recapitlisations and management-led buyouts in the healthcare, business services, communication and education sectors.
Founded in 1983, the firm typically invests between $10 and $25 million per transaction and can lead equity investments up to $50 million.
Primus closed Primus Capital Partners V on $280 million.
Primus has already made commitments from its latest fund to five current portfolio companies: Healthcare Management systems, a provider of hospital information systems; Laboratory Partners, a provider of clinical diagnostic testing services for hospitals; American Institutes, a vocational school operator; PartsSource, an alternative healthcare parts supplier and Passport Health Communications, a provider of revenue cycle management services to healthcare providers.