Kohlberg & Company has closed its seventh private equity fund, Kohlberg Investors VII, L.P., with $1.6 billion in commitments. The new fund surpassed its $1.5 billion target and closed at its hard cap.
“We received strong investor demand for this fund, and are deeply gratified by the continued support from our existing limited partners and pleased to welcome the limited partners who have joined our investor group,” said Sam Frieder, Managing Partner at Kohlberg. “Our success in raising Fund VII is continued validation of our investment philosophy and the strength and quality of our team over the last 25 years.”
Over 50 investors participated as limited partners in the new fund. “This outcome is consistent with the goals that we set at the commencement of the fundraising process in terms of investor quality, scale and geography,” said Mr. Frieder. “We are delighted with the complementary mix of existing and new investors that comprise the fund, and with the geographic diversity of our limited partner base. Over 20% of committed capital comes from investors located outside of the US, primarily in Europe and Asia.”
Lazard acted as placement agent for Kohlberg, while Ropes & Gray served as the firm’s legal counsel.
Kohlberg & Company is a control investor in a variety of industries including industrial manufacturing; consumer products; business services; healthcare services; and financial services. The firm concentrates on transactions with EBITDA between $20 million and $100 million where it can invest between $50 million and $200 million of equity. Presently, Kohlberg’s portfolio encompasses 19 companies with total revenues of approximately $7 billion. Kohlberg was founded in 1987 and is based in Mt. Kisco, NY (www.kohlberg.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 5-1-13