Newport beach-based private-equity firm Windjammer Capital Investors recently initiated its fourth fund, dubbed Senior Equity Fund IV, on the heels of closing out its third fund with the acquisition of Global Claims Services Inc.

Windjammer now has more than $1.8 billion of capital across its four funds.

The firm bought the Jacksonville, Fla.-based insurance service company from the Riverside Co., a private-equity firm in New York.

Windjammer typically invests in companies with pretax earnings of between $10 million and $40 million. Its investment amount ranges from $30 million to $140 million.

The firm said it maintains additional capital in its third fund for add-on acquisitions for its portfolio companies.

Global Claims serves property and casualty insurance carriers, claims adjusters, building contractors and homeowners in the U.S., Canada and the U.K. through subsidiary companies.

Riverside Co., which has more than $3 billion in assets under management, acquired Global Claims in 2008. The company invests through four separate funds.