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Laxman Pai, Opalesque Asia:

Chicago private investment firm The Vistria Group has collected around $3 billion for its fifth main fund, its largest private equity fund to date.

Vistria Fund V will invest in areas including US health care and financial services, according to a press statement.

The capital raise will bring total assets under management to about $16 billion for the firm founded by Kip Kirkpatrick and Marty Nesbitt, a longtime ally of Barack Obama and treasurer for both of his presidential campaigns.

The press release said that 'consistent with Vistria's original strategy and with predecessor funds', Fund V will seek to invest in U.S.-based healthcare, knowledge & learning solutions, and financial services companies that benefit from the firm's deep network, operating expertise, and trusted partnerships.

Kip Kirkpatrick, Co-CEO and Senior Partner at The Vistria Group said: "The support from our existing limited partners and interest we received from new limited partners from around the world for Fund V underscores the strong confidence in our investment philosophy: focusing on industries that help our society become healthy, wealthy, and wise."

The company claimed that the fund for 'profit-with-purpose investments' seeks to deliver both superior financial returns and meaningful societal impact.

Vistria's predecessor fund, Vistria Fund IV, closed at $2.68 billion in 2021, more than twice the size of the $1.1 billi......................

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