Kohlberg wraps up eighth PE fund at $2.2 bln

Kohlberg & Company LLC has closed its oversubscribed eighth private equity fund at a hard cap of $2.2 billion.

The Mount Kisco, New York-based private equity firm focuses on companies specializing in industrial manufacturing, consumer products, business services, healthcare services and financial services. Kohlberg invests between $50 million and $300 million in companies that have an EBITDA between $25 million and $150 million.

The limited partners of Kohlberg Investors VIII included public and corporate pension funds, endowments, insurance companies and family offices.

In April 2013, Kohlberg raised $1.6 billion for its seventh fund. No performance data on Kohlberg Investors VII LP was available.

Lazard served as placement agent for the fund while Ropes & Gray provided legal counsel.

Photo: A man wears U.S. dollar sign rings in a jewelery shop in Manhattan in New York City November 6, 2014.  Reuters/Mike Segar