Firms & Funds

Kline Hill holds $234 mln first close on Fund II

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private equity, Connecticut Retirement Plans and Trust Funds, pension fund, Shawn Wooden
Greenwich, Connecticut
  • Fund II targeting $300 mln
  • Heading toward $350 mln hard cap
  • Firm focuses on small secondaries

Kline Hill Partners held a $234 million first close on its second fund, according to a person with knowledge of the situation.

Kline Hill Partners Fund II is targeting $300 million, an SEC filing shows. The hard cap is $350 million, Buyouts previously reported.

The source said the fund has not yet started investing.

Kline Hill closed its debut fund in December 2016 at the hard cap of $180 million.

Based in Greenwich, Connecticut, Kline Hill invests in private equity secondaries, including deals for “smaller or more fragmented asset pools,” according to the firm’s website.

Managing Partner Mike Bego, previously of Willowridge Partners, formed Kline Hill in 2015. He is joined by Partner Jared Barlow, VP of Finance and Operations Danielle Buccola, and Associates Graham Douglas and Thomas Melly. The firm is advised by Priya Pradhan Karkar, former head of PE secondaries at Cambridge Associates.

Action Item: Check out Kline Hill Partners Fund II’s Form D.

Photo of Greenwich, Connecticut, courtesy Denis Tangney Jr/iStock/Getty Images