Riata Capital Group (RCG) has announced it has closed a new private equity fund with $285 million in capital commitments.

The fund, RCG Equity Fund II, exceeded the firm’s hard cap.

Riata indicated that the fund will be used to target six platform companies within the firm’s three industry sectors of healthcare services, business services and consumer services. 

RCG, founded in 2014 and based out of Dallas, pursues control and minority equity investments in middle market companies. The firm is flexible in its investment size. Within healthcare, Riata pursues investments in the provider services industry and companies that live in the healthcare sector but do not have direct reimbursement risk.