Kohlberg & Company, a private equity firm specialising in middle market investing, has held the final closing of its seventh private equity fund, Kohlberg Investors VII with USD1.6bn in commitments from its investors.
The fund surpassed its USD1.5bn target, closing at its “hard cap” due to strong support from existing investors, together with commitments from other leading institutional investors.
“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,” says 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 Kohlberg Investors VII, including a broad mix of public and corporate pension funds, endowments, sovereign wealth funds, insurance companies and family offices across the globe.
Frieder says: “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. We are delighted with the complementary mix of existing and new investors that comprise the fund, and with the geographic diversity of our LP base. Over 20 per cent 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 legal counsel in the formation of Kohlberg Investors VII.
