Comvest Partners has announced the close of its fifth PE fund.
Comvest Investment Partners V closed with $893 million in total capital commitments, above the $700 million target established at the outset of fundraising.
Comvest Partners, headquartered in West Palm Beach, is a private investment firm providing equity and debt capital to middle-market companies across the U.S. Founded in 2000, the firm has invested $1.9 billion in over 135 companies.
The firm indicated the new fund will be used pursue control equity investments in mature and growing middle-market companies. The fund will look to deploy $25 million to $100 million of equity per investment in several different industries, including healthcare services, industrials, consumer and retail, and transportation and logistics.
The fund’s first investment was the acquisition of McKesson Corp.’s Care Management business in June. The business was renamed AxisPoint Health.