Comvest Partners has held a final close on its third direct lending fund, Comvest Capital III, with $450 million in commitments. The amount is greater than the vehicle's original cap and easily surpassed its initial $350 million target. CVC III is also arranging a fund-level line of credit of up to $150 million, providing it with up to $600 million of available capital. The vehicle will provide financing to companies in the lower middle market, focusing on industries such as healthcare, technology, transportation and manufacturing. Kirkland & Ellis served as legal advisor to Comvest in the fund formation.