KLH Rounds All the Bases on New Fund

KLH Rounds All the Bases on New Fund

Acalyx Advisors was KLH’s placement agent and Kirkland & Ellis provided legal services

KLH Capital has held an above target, oversubscribed, hard cap, and final closing of KLH Capital Fund V LP with $400 million of capital.

Limited partners in Fund V include a group of global endowments, foundations, family offices, fund of funds, insurance, and pension plans.

As with earlier funds, KLH’s new fund will make majority and minority investments in family- and founder-owned distribution, specialty services, and niche manufacturing companies that have EBITDA from $4 million to $20 million.

“We are elated with the overwhelming support we’ve received from both existing and new limited partners. The successful fundraise in today’s climate demonstrates the growth of our firm, our focus and expertise within our business models of interest, and our ability to work collaboratively with our portfolio leaders to continue to deliver strong returns for our investors,” said Will Dowden, a managing partner at KLH.

Tampa, Florida-based KLH has 21 investment professionals including a dedicated and internal originations team, underwriting and portfolio management team, and a six-person operations team.

“Our team looks forward to continuing to be the partner of choice amongst entrepreneurs and management teams. These entrepreneurs are seeking the resources necessary to unlock value in their businesses by aligning themselves with like-minded partners who they want to work with, and who can help them grow their businesses to the next level,” said James Darnell, a managing partner at KLH.

Since its founding in 2005 and the close of Fund V, KLH has now raised $935 million in capital. KLH’s earlier fund, KLH Capital Fund IV LP, closed at its $200 million hard cap in July 2019.

As with earlier funds, Acalyx Advisors was KLH’s placement agent and Kirkland & Ellis provided legal services.

© 2023 Private Equity Professional | June 30, 2023

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