Union Capital Associates has raised $200 million in capital commitments for its latest private equity pool, closing the fund at its hard cap.

The new fund, named Union Capital Equity Partners II, was oversubscribed, the company said in a statement. It attracted support from endowments, foundations, pension funds, financial institutions and family offices, and will invest in smaller U.S. founder-owned businesses in which Union Capital is typically the first institutional investor.

Union Capital focuses on lower middle-market opportunities in the food processing, specialty manufacturing, business process outsourcing, marketing services and franchised restaurants sectors.

Monument Group served as placement agent for the fundraise; Proskauer Rose acted as legal counsel.

Union Capital Associates is the successor to Union Capital Corporation. It is a leading lower middle-market private equity firm that invests in smaller U.S. founder-owned and family owned businesses. The firm is supported by several former CEOs that provide general operations expertise to assist portfolio company management teams as well as provide deep industry knowledge.