Thoma Cressey Equity Partners plans to step up acquisitions in education and consumer products and services with a $765 million buyout fund. Lee Mitchell, managing partner in Chicago, told CFW, "We think we can put some money to work effectively there."

The firm, which also has an office in San Francisco, started as generalists in 1998, but has become increasingly sector focused, particularly healthcare and business services. It has made one investment so far in education, Excelligence Learning Corporation, a maker of educational products for children acquired in July from private equity firm William E. Simon & Sons for $117.56 million. It has three portfolio companies in consumer products and services: American-Amicable Holdings, Meridian Mortuary Group and Premier Golf Management. Mitchell said the firm does not have a set amount of its new fund it plans to spend in each sector. Thoma Cressey closed its latest fund, Thoma Cressey Equity Partners VIII, in January.

Thoma Cressey also recently closed a Boston office, which was opened in 2004 to accommodate partner David Mayer, a Boston native who is leaving the firm. Mayer and Mitchell told CFW that, even with e-mail, the distance between the offices hampered communication. "E-mail is great, but you lose the ability to walk down the hall to talk to somebody," Mitchell said.