Bow River Capital Partners has announced it has closed its third private equity fund at $590 million.

The fund was oversubscribed, exceeding its target of $500 million.

The new fund will continue the firm’s strategy of investing in middle market companies located throughout the United States in healthcare services and a few other sectors. Bow River primarily focuses on companies in the Rocky Mountain West and Southwest

The private equity division of Bow River, which is based in Denver and was founded in 2003, targets control investments in companies with $25 million to $200 million in revenue and EBITDA of $5 million to $20 million in several industries.