Blue Point Capital Partners has closed its Fund IV after reaching its goal of $700 million in capital commitments. The fund — which received commitments from a number of top-tier investors, including endowments, insurance companies, multi-manager funds, consultants, public pensions, corporate pensions and family offices — exceeded target expectations after only three months of marketing. “Our LP base includes a prominent and diversified group of investors, many of whom have invested with us for multiple funds, who are fully aligned with our vision,” John LeMay, Partner at Blue Point, said in a statement. Fund IV will continue Blue Point’s strategy of targeting lower middle-market companies in the manufacturing, business services, consumer and value-added distribution sectors that are located primarily in the Midwest, Southeast and West Coast. It will seek companies that generate somewhere between $20 million and $200 million in revenue and approximately $5 million and $25 million in EBITDA. Kirkland & Ellis provided legal counsel in connection with Fund IV. Sixpoint Partners, a global investment bank serving the middle market, managed fund placement.