U.S. private equity firm Anacapa Partners has held the final close of its second fund at more than $78.18 million.

The fund, Anacapa Partners III, had published D form for the offering.

Anacapa Partners III clarification was that the issuer is obligated to pay a management fee to Anacapa Partners Management III LLC, or an affiliate thereof.

Anacapa Partners III plans to focus on the lower middle market investments.