GI Partners has announced the closing of its fifth fund, Fund V.
It was oversubscribed at its hard cap of $2.7 billion, surpassing the target of $2.3 billion.
GI Partners, based in San Francisco, is a middle-market private equity firm active in several sectors, including healthcare.
The firm indicated it would use Fund V capital for control-oriented investments in North American middle-market businesses. Fund V will primarily target investments with enterprise values between $250 million and $1 billion in healthcare and other sectors.