Merit Capital Partners, a Chicago, IL-based private equity firm, closed its sixth fund, at $536m.
Limited partners in Fund VI include insurance companies, pension funds, university endowments, fund-of-funds and family offices.
The firm invests both equity and mezzanine capital in middle-market companies principally in manufacturing, distribution and services industries. Merit focuses on recapitalizations and buyout transactions, primarily in partnership with family-owned companies, existing owner-managers, and with independent sponsors.
Since 1993, the firm has raised over $2.2 billion of capital through six institutionally sponsored limited partnerships.