--- title: "New Harbor Capital Fund IV Lowers Its Offering to $350 Million and Reports $174.4 Million Sold" url: https://altstreet.investments/news/new-harbor-capital-fund-iv-174-million-sold-offering-cut-to-350-million-2026-10-16 kind: news-article updated: 2026-10-19 description: "New Harbor Capital Fund IV's October 16, 2026 Form D/A lowers the offering to $350 million from $400 million and reports $174.4 million sold." publisher: AltStreet (https://altstreet.investments) license: Public factual pages may be read, quoted and cited with attribution and a link. Bulk redistribution is not permitted. --- # New Harbor Capital Fund IV Lowers Its Offering to $350 Million and Reports $174.4 Million Sold Annual Form D amendments for the Chicago firm's fourth fund and its parallel vehicle cut the offering amount from $400 million and report the fund's first sales total, a year after the first sale. New Harbor's third fund closed at $362 million in 2021. By Michael E., Head of Research, AltStreet Research (https://altstreet.investments/authors/michael-e). Published October 19, 2026. Entity: New Harbor Capital Fund IV, LP (CIK 2077157, https://altstreet.investments/edgar/2077157). New Harbor Capital, a Chicago private equity firm that invests in lower middle market healthcare, education and technology-enabled services companies, has lowered the offering amount for its fourth fund to $350 million from $400 million, according to Form D amendments filed October 16, 2026 for New Harbor Capital Fund IV, LP and its parallel vehicle, Fund IV-A. Both notices report $174.4 million sold, the first reported sales total for Fund IV, a year after a first sale on October 17, 2025. The revised amount equals the $350 million New Harbor listed on the Form D for its third fund in 2021. That fund closed at $362 million, at its hard cap, according to Private Equity Professional's report of the close. ## What the filings show Each notice says the total offering amount "is distributed between the Issuer and its related parallel fund" and that the amount sold "includes the general partner amounts." With the same $174.4 million on both companion notices, the sales figure reads as one total for the pair rather than $348.8 million between them, though the notices do not say so in terms. The amount sold also includes commitments investors have yet to fund, so it is not a measure of capital called. Both rely on Rule 506(b) with no placement agent and no sales commissions. The notices say the investment manager is entitled to a management fee and the general partner to a performance allocation, with terms in the confidential offering materials; they do not disclose the rates. | | Fund IV | Fund IV-A | | --- | --- | --- | | Offering amount | $400,000,000 to $350,000,000 | $400,000,000 to $350,000,000 | | Amount sold | $174,400,000 | $174,400,000 | | Remaining | $175,600,000 | $175,600,000 | | Investors | 41 | 4 | | First sale | 2025-10-17 | 2025-10-17 | | Filing | [0002077157-26-000001](https://www.sec.gov/Archives/edgar/data/2077157/000207715726000001/) | [0002077156-26-000001](https://www.sec.gov/Archives/edgar/data/2077156/000207715626000001/) | Form D/As filed October 16, 2026; the original notices of October 16, 2025 reported a $400,000,000 offering and no sales. ## Background New Harbor has raised a larger fund each time. Its first fund closed in March 2015 with $146 million, Fund II in June 2017 with $265 million, above its $250 million hard cap, and Fund III in February 2021 with $362 million after just over three months of fundraising, according to Private Equity Professional's reports of the closes. Fund III's Form D listed $350 million, below its $362 million close, which is why a Form D offering amount reads as the sponsor's stated offering rather than a fund size. ## Why it matters A lower offering amount on a Form D is not a hard cap and the amendments give no reason for it. What it does show is the fund's position a year in: $174.4 million reported against a $350 million offering, about half, after a predecessor that raised $362 million in three months. Whether Fund IV is still raising, and toward what final size, is a question for the sponsor. ## What the filings do not show The notices do not state a target fund size, a final closing date or a reason for the change, do not split the amount sold between the two vehicles or between general partner and investor commitments, and do not say whether any investor is counted on both. ## Key facts - Form D/As filed 2026-10-16: Fund IV (CIK 0002077157, 0002077157-26-000001) and Fund IV-A (CIK 0002077156, 0002077156-26-000001); originals 2025-10-16 reported a $400,000,000 offering and no sales. - Both notices: offering amount $400,000,000 to $350,000,000; amount sold $174,400,000; remaining $175,600,000; first sale 2025-10-17; investors 41 (IV) and 4 (IV-A). - Clarification on both: the offering amount 'is distributed between the Issuer and its related parallel fund'; the amount sold 'includes the general partner amounts'. The identical sales figure indicates a total for the pair; the notices do not state it expressly. - Rule 506(b) with 3(c)(1) and 3(c)(7); no sales commissions, finders' fees or placement agent; management fee and performance allocation acknowledged, rates not disclosed. - Predecessor closes reported by Private Equity Professional: Fund I $146 million (March 2015), Fund II $265 million (June 2017, above a $250 million hard cap), Fund III $362 million at its hard cap (February 2021); Fund III's Form D listed $350,000,000. ## Sources - New Harbor Capital Fund IV, LP, Form D/A (October 16, 2026): https://www.sec.gov/Archives/edgar/data/2077157/000207715726000001/ - New Harbor Capital Fund IV-A, LP, Form D/A (October 16, 2026): https://www.sec.gov/Archives/edgar/data/2077156/000207715626000001/ - New Harbor Capital Fund III, LP, Form D (January 29, 2021): https://www.sec.gov/Archives/edgar/data/1841525/000184152521000001/ - New Harbor Closes Fund III (February 11, 2021): https://peprofessional.com/2021/02/new-harbor-closes-fund-iii/ - New Harbor Beats Target (June 7, 2017): https://peprofessional.com/2017/06/new-harbor-beats-target/ - SEC Form D and instructions (amount sold includes mandatory capital commitments): https://www.sec.gov/files/formd.pdf ## SEC accession numbers - 0002077157-26-000001 - 0002077156-26-000001 --- Source page: https://altstreet.investments/news/new-harbor-capital-fund-iv-174-million-sold-offering-cut-to-350-million-2026-10-16 Machine index: https://altstreet.investments/llms.txt AltStreet reads what platforms, funds and issuers file with the SEC and what they tell investors, and publishes the difference. Figures are as filed or as captured on the date stated; nothing here is investment advice.