Kelso & Company, L.P. – a private equity firm specializing in middle market investing – recently announced the closing of Kelso Investment Associates XI and affiliated funds. Fund XI closed with aggregate capital commitments of $3.25 billion, which surpasses the original target.
Fund XI’s capital includes participation from Kelso partners and employees of over $400 million, representing a GP commitment of over 12%. This GP commitment continues the firm’s alignment with its limited partners.
Kelso is a middle market buyout private equity firm founded in 1980 on the principles of partnership and alignment of interest, which is an investment philosophy championed by Louis Kelso – the inventor of the Employee Stock Ownership Plan (or ESOP). With a disciplined and focused approach, the firm invests in targeted sectors where we have the expertise and capabilities to support our management teams in working to drive accelerated growth. Kelso is owned in its entirety by the employees of the firm. Since its founding, Kelso has raised 11 private equity funds and invested approximately $19 billion of equity capital in more than 140 companies. And the firm’s investors represent a diverse group of limited partners, including public and corporate pensions, sovereign wealth funds, insurance companies, consultants, financial institutions, and family offices.
KEY QUOTES:
“We are deeply grateful for the support from investors, as well as for the work by our employees and management team partners who contribute to delivering our consistent performance. 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.”
- Chris Collins and Frank Loverro, Co-CEOs of Kelso
“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.”
- Lynn Alexander, Partner and Head of Investor Relations & Fundraising at Kelso
