Shore Capital announced it has closed its third institutional healthcare private equity fund, Shore Capital Healthcare Partners Fund III, having raised $293 million.

The fund surpassed its original target of $250 million, with investments coming from existing investors and new limited partners The firm indicated the new fund will primarily invest in control buyouts, focusing on microcap healthcare businesses with revenues between $5 million and $100 million.

Shore Capital Partners, founded in 2009 and based in Chicago, pursues investments in the healthcare and food and beverage sectors. The firm has more than $1 billion of equity capital under management.