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The new vehicle enables the specialty chemicals-focused firm to cover a part of the market increasingly outside the remit of its growing flagship funds, says managing director Jack Norris.
The vehicle, which is targeting $375m, is Northlane Capital’s first as an independent manager.
The fundraising lasted 18 months and 40% of the capital came from new investors.
Hahn & Company III is expected to close by the end of June and has already amassed $2.1bn, US pension documents show.
Brazil
The Brazil-focused fund closed amid a tough fundraising environment for emerging markets private equity firms.
Fund XIII is 60% larger than its predecessor and was raised in a matter of months.
The firm activated fees on the vehicle in January following a $2.8bn first close in August.
The turnaround specialist held its first and final close on Anchorage Capital Partners III on $266m, after less than a year in market.
The fund is closing below its initial €7bn target after almost two years on the road.
Market participants remain concerned about the overabundance of dry powder after a first half that delivered the highest level of fund closes since PEI first started tracking data.
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