U.S. investment firm New MainStream Capital (NMS Capital) has held the final close of its third private equity (PE) fund, NMS Fund III LP (Fund III).

The vehicle was launched with an initial target of $350 million and was finalized at its hard capitalization of $450 million.

The company’s backers are comprised of public and corporate pension funds, foundations, family offices and other institutional backers, based in the U.S. and abroad.

Previously, NMS Capital secured commitments of $252 million in its second investment fund, NMS Fund II LP.