Veritas Capital closes fifth fund on $1.87b

New York-based Veritas Capital has closed its fifth fund on the $1.87 billion hard cap

New York-based Veritas Capital has closed its fifth fund on the $1.87 billion hard cap, beating the $1.5 billion target, according to a statement.

The fund has only been in the market since April, and this is the first and only close.

Veritas declined to comment on fundraising.

The fund will focus on the same strategy as predecessor funds, looking for middle market companies that provide products, services and solutions to government customers in industry sectors such as aerospace & defense, healthcare, technology, national security, communications, energy and education.

Veritas’ fourth fund closed in July 2010 on $1.2 billion. Known investors in that fund include the Public Employee Retirement System of Idaho according to PEI data.

The firm was also on the short list for firms under consideration for Idaho’s 2014 commitments, PEI reported in January.

Veritas is led by partners Ramzi Musallam, Hugh Evans and Benjamin Polk.