Kohlberg Investors V closes on $800m

US mid-market investor Kohlberg & Company has closed its fifth private equity fund $150m above target.

Kohlberg & Company, the Mt Kisco, New York based mid-market buyout firm, has held a final close on its fifth private equity fund, Kohlberg Investors V. The firm, which in addition to its East Coast headquarters has an office in Palo Alto, California, closed the fund on $800 million (€640 million), in excess of its original $650 million target.

The firm was advised by a team of private equity fund placement professionals at Lazard, the investment bank. 

According to a press release issued by Lazard, the fund received commitments from approximately 40 limited partners. Kohlberg will use the capital to fund control investments in US mid-cap companies.

Established in 1987, the firm has invested in deals with a combined transaction value in excess of $4 billion. The firm was founded by Jerome Kohlberg and his son James A. Kohlberg, who serves as managing principal. Prior to establishing the company, Jerome Kohlberg was one of the founders of New York buyout giant Kohlberg Kravis Roberts in 1976.

The new fund takes to $2.2 billion the amount of equity capital that the firm has raised since inception.