Chicago Private Equity Firm Raises $3 Billion for New Fund (1)

A Chicago private equity firm with ties to Barack Obama has closed on a $3 billion new fund, adding to a list of Windy City investors to raise capital in the past year.

Vistria Group’s Fund V will invest in areas including US health care and financial services, according to a statement on Thursday. The capital raise will bring total assets under management to about $16 billion for the firm founded by Kip Kirkpatrick and Marty Nesbitt, a longtime ally of Obama and treasurer for both of his presidential campaigns.

The move adds to a number of capital ...