Kelso & Company, a private equity firm specialising in middle market investing, has held the final close of Kelso Investment Associates XI and affiliated funds with aggregate capital commitments of $3.25bn, in excess of its original target.
Kelso partners and employees committed more than $400m to the fundraise, representing a GP commitment of over 12%.
According to Lynn Alexander, Partner and Head of Investor Relations & Fundraising at Kelso, the fund also attracted significant support from the firm’s existing LPs with a 95% re-up rate from the predecessor fund.
Debevoise & Plimpton served as legal counsel in connection with the fundraise and formation of Fund XI.
