Fundraising Updates: Oaktree, Adams St., Harbert, Peninsula, Littlejohn…

The following six fundraising updates have been culled from SEC filings:

Oaktree Capital has raised  $425.8 million to invest in mortgage-backed securities through the government’s PPIP plan. The fund, called Oaktree PPIP Private Fund, L.P., has 39 investors, which includes Arctic Slope PPIP Private Fund GP, L.P., a contractor which represents the Alaska Native Arctic Slope Inupiat. The $425.8 million likely includes capital raised for a parallel offshore fund called Oaktree PPIP Private Fund (Cayman), L.P., which accumulated $181 million in commitments, according to a separate SEC filing.

This one has been reported already, but in case you missed it: Littlejohn & Co. has held a second close on its fourth fund with $616.5 million in commitments. The firm is using Park Hill as a placement agent. The firm held a first close in September with around $400 million. The fund has a curious target figure of $1,323,529,412, which some reports have said is a hard cap while the actual target is $1.25 billion. If the target is reached, the fund would be a significant jump for Littlejohn & Co., which is coming off of an $850 million third fund. That vehicle initially had only $650 million in commitments, but raised an additional $200 million in 2006. According to information from Oregon Public Employee’s Retirement Fund, Littlejohn Fund II has returned 1.48x its money.

Pacific Lake Partners has $24.7 million in commitments from 23 investors for Pacific Lake Partners Fund One, L.P. The fund will back entreprenuers in a new strategy designed to invest in turnaround situations for startups. (And I always thought “turnaround” for a startup meant “abandon…”) The fund has a $35 million goal.

Harbert Private Equity, a fund managed by Alabama-based Harbert Management Corporation, is targeting $200 million for its third fund. The firm has gathered $9.7 million in commitments from 6 investors. The firm invests in companies with an enterprise value between $10 million and $100 million.

Peninsula Capital Partners, a Detroit-based private equity firm which invests in subordinated debt and structured equity, has raised $369 million from 33 investors for its fifth fund. The firm has the ability to raise up to $425 million in commitments, according to the filing. Peninsula’s prior fund had $335 million in commitments.

And here are the targets for Adams Street (a large funds of fund and secondaries player)’s 2010 funds:

Adams Street Partnership Fund 2010 U.S. Fund, L.P.

$800 million

Adams Street Partnership Fund – 2010 U.S. Fund – Series B, L.P.

$250 million

Adams Street Partnership Fund 2010 Non-U.S. Developed Markets Fund, L.P.

$400 million

Adams Street Partnership Fund 2010 Non-U.S. Emerging Markets Fund, L.P.

$200 million


Where Are They Now? Looking Back at Last Year’s Fundraising Plans