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Vistria raises $2.7 billion for latest buyout fund, above its target

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Vistria Group closed its latest middle-market buyout fund, Vistria Fund IV, at its hard cap of $2.7 billion.

The fund closed well above its fundraising target of $1.5 billion, a news release said Wednesday.

Vistria Fund IV seeks investments in U.S.-based education, financial services and health-care companies, the news release said.

The previous fund, Vistria Fund III, closed at its hard cap of $1.1 billion in 2020, exceeding its fundraising target of $800 million.

Investors in the current fund include the $53.1 billion Illinois Municipal Retirement Fund, Oak Brook.

A spokesman for Vistria Group could not be immediately reached for further information.