Kelso & Company LP Hits $3.25B for Fund XI

Kelso & Company LP, founded in 1980, is a distinguished private equity firm specializing in middle-market investments across North America. Recently, the company achieved a significant milestone by closing Kelso Investment Associates XI and related funds.

The fund garnered $3.25 billion in capital commitments, surpassing its original target.  Kelso’s partners and employees contributed over $400M, representing a GP commitment of more than 12%. This aligns with Kelso’s industry-leading commitment to alignment with its limited partners.

Kelso & Company is renowned for its investment strategy, which focuses on middle-market solid businesses where they can accelerate growth. With a history spanning 11 private equity funds and over $19 billion invested in more than 140 companies, the firm’s track record is a testament to its success. Chris Collins and Frank Loverro, co-CEOs of Kelso, expressed their enthusiasm for Fund XI’s potential, stating,

“We are excited to deploy Fund XI, utilizing our disciplined strategy of investing in strong middle-market businesses where we see opportunities to accelerate growth.”

Moreover, Lynn Alexander, Partner and Head of Investor Relations & Fundraising at Kelso, highlighted the firm’s strong relationships with investors, stating,

“We appreciate the continued commitment of our existing limited partners, with a re-up rate of 95% from the prior fund and several investing with us for more than 30 years. We are also pleased to have added a meaningful number of new investors.”

Kelso & Company’s successful closing of Fund XI reflects its enduring commitment to delivering value to its investors through middle-market investments. With a history of partnership and a dedication to shared equity ownership, the firm remains a leader in the private equity realm.