Littlejohn & Co. closes fifth fund on $2bn

Connecticut-based Littlejohn & Co. has closed its fifth buyouts fund on $2 billion   

Littlejohn & Co. a middle market private equity firm focused on buyouts and special situations has closed its fifth fund on the $2 billion hard-cap, beating its $1.5 billion target.

The firm declined to comment on fundraising.

Littlejohn Fund V is the firm’s largest ever fund, surpassing the $1.34 billion raised for Fund IV, which was then the largest ever.

Like its predecessor funds, Fund V will target buyouts and special situations in the US middle market, as well as some carve-outs. Littlejohn typically invests in companies with annual revenues between $100 million and $800 million, and generally invests $50 to $150 million of equity in its private equity investments.

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.

Park Hill Group served as the placement agent for Fund V.