GI Partners has announced the closing of its fifth fund, Fund VI.

The oversubscribed fund reached $3.9 billion in total commitments, surpassing the target of $3.25 billion.

The firm indicated it would use Fund VI capital for control-oriented investments in North American companies across four sectors: healthcare, IT infrastructure, services and software.

GI Partners, based in San Francisco and founded in 2001, has raised more than $28 billion in capital.