American Capital launches $1.1B private equity fund

American Capital (ACAS +3.6%) posts strong gains after moving to boost its asset management business with the formation of American Capital Equity III, a private equity fund focused on companies in the lower middle market. The closing of the fund is expected within 90 days and will increase ACAS earning AUM by $900M, or 7%.

The investor group is led by funds advised by Collier Capital, GS Asset Management, and StepStone Group, and also includes SWFs, state retirement and pension systems, among others.

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