KLH Hits Hard Cap

KLH Capital Partners has held a final close of KLH Capital Fund IV LP (Fund IV) at its hard cap with $200 million of limited partner commitments.

Fund IV was oversubscribed and received commitments from a variety of limited partners including endowments, foundations, family offices, fund of funds, insurance and pension plans. The new fund was raised in just two months.

“We are thrilled with the overwhelming support we’ve received from both existing and new blue-chip limited partners, as well as the efficiency of the fundraise process,” said Will Dowden, a partner of KLH.

KLH invests in niche manufacturing, value-added distribution and specialty services companies with revenues of at least $10 million and EBITDA of at least $3 million. The firm is headquartered in Tampa (www.klhcapital.com).

“Our team looks forward to continuing to partner with lower middle market businesses where we can utilize our core strengths to help achieve the next level of growth,” said James Darnell, a partner of KLH.

Acalyx Advisors was the placement agent for this fundraise. “KLH’s rigorous sourcing process and proven track record of unlocking value certainly resonated with limited partners in today’s congested fundraising market,” said Joe McDonald, a partner at Acalyx.

Kirkland & Ellis provided legal services to KLH in the raising of Fund IV.

© 2019 Private Equity Professional | July 12, 2019

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