Littlejohn & Co., LLC, a private investment firm based in Greenwich, CT, today announced the successful completion of Littlejohn Fund V, L.P. with $2 billion of committed capital, reaching its hard cap and exceeding its target of $1.5 billion. The firm’s previous fund, Littlejohn Fund IV, L.P., with $1.34 billion of committed capital, was raised in 2010.
Michael I. Klein, Chief Executive Officer and co-founder of Littlejohn, commented on the firm’s fundraising success, “The completion of Fund V serves as a key milestone in the strategic growth of our firm, and we are very pleased to have surpassed our expectations for Fund V. We want to express our thanks to our loyal investors for their ongoing support over the years, and for the trust our new investors have expressed in our team and our investment approach. Our operational focus and distressed investment skills are a strong combination that differentiates us in the marketplace.”
Since 1996, Littlejohn has focused on the fundamental opportunities and challenges faced by companies in the middle market. As an investor in private equity and special situations, the firm has deep experience and a long history of investing in a broad range of businesses. Littlejohn has successfully partnered with business leaders and stakeholders to make good companies better, to carve out operating divisions of large corporations, and to turn around companies facing operating or financial stress. Fund V’s investor base is international in scope and represents a diverse group of endowments and foundations, public and corporate pension plans, insurance companies, sovereign wealth funds, family offices and institutional investors.
Littlejohn has 23 investment professionals, led by a strong and cohesive team of 10 partners who have built a collaborative, stable and high-performance culture for nearly two decades. Littlejohn invests in middle market companies with annual revenues typically between $100 million and $800 million, and generally invests $50 to $150 million of equity in its private equity investments. Littlejohn’s complementary special situations investment strategy takes positions in the securities of stressed and distressed middle market companies. The firm invests across a broad range of industries and acquires manufacturers, distributors, and service providers.
Park Hill Group LLC served as Placement Agent for Littlejohn, and legal advice was provided by Debevoise & Plimpton LLP.