EBF & Associates, L.P., a Minnetonka, MN-based alternative investment firm, closed its latest fund, at $800m.
Merced Partners IV, L.P., which had an initial target of $750m, will make opportunistic value investments in niche financial instruments and hard assets.
The Fund will target opportunities generally ranging from $10m to $100m.
Limited partners include endowments, foundations, state and corporate pension plans, and family offices.
Founded in 1988 and led by managing partners Andrew Platt and David Ericson, EBF & Associates is a registered investment advisor with currently over $2.1 billion in capital under management.
It has 37 employees including six partners and 12 investment professionals.