Florida-based private equity firm Comvest Group has raised $580 million for its fourth private equity fund, Private Equity Hub reports. The company was targeting $500 million for the Comvest Investment Partners IV fund.

The fund’s capital commitments come from a varied group of institutional investors which include U.S. state and city pension plans, insurance companies, college endowments, European government pension plans, and global private equity funds of funds. Comvest offers flexible financing solutions to lower mid-market companies and has invested some $2.5 billion in over 200 companies.

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