Littlejohn & Co. has completed fundraising for Littlejohn Fund V, LP with $2 billion of committed capital, reaching its hard cap and exceeding its target of $1.5 billion. The firm's previous fund, Littlejohn Fund IV, LP, with $1.34 billion of committed capital, was raised in 2010.
Fund V's investor base is international in scope and represents a diverse group of endowments and foundations, public and corporate pension plans, insurance companies, sovereign wealth funds, family offices and institutional investors.
"The completion of Fund V serves as a key milestone in the strategic growth of our firm, and we are very pleased to have surpassed our expectations for Fund V. We want to express our thanks to our loyal investors for their ongoing support over the years, and for the trust our new investors have expressed in our team and our investment approach. Our operational focus and distressed investment skills are a strong combination that differentiates us in the marketplace," said Michael Klein, Chief Executive Officer and co-founder of Littlejohn.
Littlejohn & Co. makes control and non-control investments in middle-market companies that are undergoing a fundamental change in capital structure, strategy, operations or growth. Littlejohn invests in middle market companies with annual revenues typically between $100 million and $800 million, and generally invests $50 to $150 million of equity in its private equity investments. The firm invests across a broad range of industries and acquires manufacturers, distributors, and service providers. Littlejohn is currently investing from Littlejohn Fund V which has over $2 billion in capital commitments. The firm is based in Greenwich, CT (www.littlejohnllc.com).
Park Hill Group (www.parkhillgroup.com) served as placement agent for Littlejohn, and legal advice was provided by Debevoise & Plimpton.