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Sverica Capital raises $450m

The Boston-based investment firm closed its fifth North America buyout fund.

Sverica Capital held a final closing of its fifth fund, Sverica Capital Partners V, at a $450 million hard cap. The fund surpassed its predecessor, Sverica Capital Partners IV, which closed in March 2016 at $275 million.

Fund V received capital commitments from several new and returning institutional investors and will target lower middle market companies across North America within the healthcare, technology, high-value industrial and business services sectors.

Founded in 2001, Sverica Capital has invested in 34 companies, with Fund V focusing on companies worth up to $150 million in enterprise value. The firm now manages $1.1 billion in assets.