Private equity firm Arbor Investments has closed its fifth fund on $1.5 billion after just 87 days in market. The fund is nearly double the $765 million secured by Arbor's fourth fund in 2016. It is also above Arbor's $1 billion target for Fund V.

The firm also raised $168 million for its second mezzanine debt fund, Arbor Debt Opportunities Fund II LP.