New State Capital Closes Third Fund at $450M New State Capital Partners, a private equity fund, has closed its third institutional investment fund, New State Capital Partners Fund III LP with $450 million in committed capital. The fund was over-subscribed and closed on schedule at its hard cap in about four months after the official launch. Fund III’s investors are comprised of a global group of public and private pension funds, consultants, endowments, foundations, funds of funds, and family offices. New State completed the fundraise of its second institutional fund in March 2018 with $255 million of capital commitments and currently has $1.2 billion in assets under management.