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Topspin closes $132m lower mid-market buy-out fund01/07/2008. Source: AltAssets. 
 Long Island-based lower mid-market buy-out firm Topspin Partners has closed its latest buy-out fund, Topspin Partners LBO, on $132m, exceeding its initial target of $100m.
The fund had a hard cap of $150m, and held a previous closing in May 2007, on $115m.
Topspin LBO follows the firm's previous buy-out and venture-focused fund, which closed in 2000, on $213m.
Investors include high-net-worth individuals and family offices. The lead investor in the fund was James Simons, the founder of US hedge fund Renaissance Technologies.
Leigh Randall, managing director, Topspin LBO, said, 'We plan to continue our disciplined investment approach, seeking strong companies with good earnings visibility in sectors that we know and understand.'
Topspin acquires controlling interests in companies with $2-7m in EBITDA operating in industries including consumer products, retail, restaurants, food and beverage, media and publishing, niche manufacturing and security.
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