Kohlberg & Company, L.L.C. (“Kohlberg”), a private equity firm specializing in middle market investing, announced the final closing of its 10th private equity fund, Kohlberg Investors X, L.P. (“Fund X”), with $4.3 billion in commitments. In addition, Kohlberg raised approximately $1.0 billion in commitments for dedicated co-investment vehicles alongside Fund X.
“We are deeply gratified by the tremendous support from our existing limited partner base and are pleased to welcome a robust and distinguished group of new investors into the Kohlberg community,” said Sam Frieder, Managing Partner at Kohlberg. “We are humbled by the enthusiasm expressed towards the Firm as experienced stewards of capital over our nearly four-decade history.”
Over 125 investors participated as limited partners in Fund X, including public pension funds, financial institutions, endowments, consultants, corporate pensions, sovereign wealth funds, family offices and funds-of-funds, with commitments coming from investors in the United States, Canada, Latin America, Europe, the Middle East and Asia.
“We are delighted with the strong demand for Fund X, and also pleased to have diversified Kohlberg’s reach and relationships, both globally and in new channels,” said Jessica Hoffman Brennan, Partner, Head of Strategy & Investor Relations at Kohlberg. “Our consistent and accelerating track record, including significant liquidity returned to investors over the past three years, resonated during our marketing efforts for Fund X.”
“The Firm looks forward to continuing to mobilize our differentiated, sector-specialized expertise and thesis-driven White Paper investment strategy toward being the clear partner of choice for sellers and management teams,” said Gordon Woodward, Partner and Chief Investment Officer at Kohlberg. “We are excited to construct a Fund X portfolio that builds upon our legacy of successful business transformation and value creation.”
Kohlberg has more than 90 investment and portfolio support professionals who will be responsible for deploying Fund X. Consistent with prior funds, investments will be focused across Kohlberg’s Core Practice Areas of Pharmaceutical & Medical Products & Services, Infrastructure Services, Business Services, Financial & Compliance Services and Healthcare Services.
Lazard acted as global placement agent for Kohlberg, while Ropes & Gray served as legal counsel in the formation of Fund X.
