Arlington Capital Partners has closed on a $1.7B fund

Arlington Capital Partners, a Chevy Chase, Md.-based private equity investment firm, announced that it has closed on $1.7 billion for its fifth fund.

The fund hit its hard cap just three months after launch. This fund raise exceeded the firm’s previous fund by $1 billion. The venture firm raised the capital ahead of plans to make more acquisitions and investments in high-growth, government-related sectors including aerospace and defense, government services and technology, healthcare and business services and software, a press release states.

Founded in 1999, Arlington Capital Partners calls itself a “middle market private equity firm,” and reports making 90 acquisitions to date and has managed $4 billion in capital through five investment funds. Its last fund closed in August 2016 at $700 million.

Arlington Capital Partners recently made a strategic investment into Reston, Va.-based Octo Consulting, developer of mission-critical solutions for the federal government across healthcare, national security, civilian and defense agencies. The amount of the deal was undisclosed, but this granted the venture firm a majority stake into the company. Following the investment, Octo made some leadership team changes that included a promotion for Jay Shah, executive VP of Octo’s health business unit, who is now the company’s new COO. Octo also recruited Pamela Rothka as its new CFO.

“Octo’s continued exponential growth over the last several years gave us many lucrative acquisition alternatives,” Octo CEO Mehul Sanghani said in a statement. “However, rather than pursue any alternatives that would exit the brand and legacy we have built, we chose to partner with Arlington, a private equity firm with a longstanding history of successful investments in the government services and technology sector.”