Nashville-based investment firm CapitalSpring announced Friday it has closed on more than $505 million of commitments for its seventh fund.

According to a release, the fund is targeting $1 billion in total commitments, with the milestone of more than half that figure coming two months after the company — which focuses its investments on franchised and other multi-location businesses, particularly restaurants and food services companies — launched the fund.

Richard Fitzgerald Courtesy of CapitalSpring

The release notes the fund has attracted “strong early support” from existing limited partners, including state and municipal pension plans, endowments, foundations and family offices.

Founded 20 years ago and with regional offices in Atlanta, Los Angeles and New York (its previous headq

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