Tailwind Capital Partners, a New York-based middle-market firm, has closed its Tailwind Capital Partners II LP and associated funds on $1.05 billion, surpassing its $750 million target, the firm announced in a statement.
Capital commitments came from existing and new investors, including pension funds, insurance companies, endowments and foundations, family offices and high net-worth individuals.
Fund II, announced in September 2012, will follow its predecessor, which closed on $775 million in 2008, by focusing on organic growth, acquisitions and operational and strategic improvements.
Tailwind invests in growth-oriented companies in healthcare, business and communications services in North America.
“We continue to believe that there are attractive opportunities ahead in the healthcare, business and communications services sectors, and are squarely focused on delivering superior returns to our investors,” Tailwind managing partner Larry Sorrel said.
Some of Tailwind's past investments include Apex Companies, an environmental services and consulting company, Nsight, a regional telecommunications business, ReTrans, a third-party logistics provider and Trover Solutions, an insurance subrogation and claims recovery provider.
The firm, which was established in 2003, targets equity investments between $25 million and $100 million in companies with up to $300 million in enterprise value.
It has invested over $1 billion in 27 portfolio companies since its founding and currently manages over $2 billion in committed equity capital, according to a statement. This year its TCP II Co-investment B fund held a final close on $50.1 million.
MVision Private Equity Advisers provided global fundraising counseling and Davis Polk & Wardwell LLP served as legal advisor.