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Laxman Pai, Opalesque Asia:

Lower mid-market private equity firm NexPhase Capital has struck a $544m hard cap close for its fourth fund - a jump of more than 50% compared to its predecessor fund.

The operationally-focused private equity firm said in a press release that NexPhase Capital Fund IV (NPC IV) was oversubscribed with strong support from existing investors combined with significant interest from a diverse base of new investors, including public pension plans and global institutional investors.

"The fourth buyout fund a roughly 50% increase over its third fund - NexPhase Capital Fund III -, which collected $361 million and held a final close in 2018," it said.

NPC IV will seek control buyout investments in growth-oriented and capital-efficient North American lower middle-market companies across the consumer, healthcare, and software verticals.

"The firm applies a thematic approach to identify attractive subsectors and targets primarily entrepreneur-owned businesses where it believes it can help drive value creation through its industry expertise and operational playbook. NexPhase has completed four investments in NPC IV to date," said the release.

Ted Yun, Managing Partner at NexPhase said "As we continue to deploy this capital, we believe we are well-positioned to execute on many attractive investments in our target subsectors and help entrepreneurs achieve outsized growth while mitigating risks that often come with rapid scale. We look forward......................

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