Kohlberg Announces Strategic Investment by Blackstone
March 23 2018 - 7:00AM
Business Wire
Kohlberg & Company, L.P. (“Kohlberg”) announced today that
Blackstone’s (NYSE: BX) Strategic Capital Holdings Fund has
acquired a passive, minority equity interest in the firm.
Blackstone’s Strategic Capital Holdings Fund is part of Blackstone
Alternative Asset Management (BAAM), the firm’s hedge fund
solutions business, and specializes in acquiring stakes in leading
alternative asset managers. Terms of the transaction were not
disclosed.
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Based in Mt. Kisco, New York, Kohlberg is a leading private
equity firm specializing in middle market investing. The minority
investment from Blackstone will help provide long term capital to
support Kohlberg’s investing platforms.
Sam Frieder, Managing Partner of Kohlberg, commented on the
announcement: “We are proud to partner with Blackstone, another
trusted name in the industry, who shares our deep commitment to
investors and long track record of success. With this investment,
Kohlberg is well positioned to build upon its 30 year history with
continued growth in the years ahead.”
Scott Soussa, Head of BAAM’s Strategic Capital Group, said:
“With a strong track record of investing over three decades,
Kohlberg has established itself as a clear leader in middle market
private equity. The firm’s experienced management team, deep bench
of investing talent and differentiated value creation model
positions it well for continued growth, and we look forward to
partnering with them in the years ahead.”
Evercore served as financial advisor to Kohlberg. Ropes &
Gray served as legal counsel to Kohlberg and Simpson Thacher served
as legal counsel to Blackstone.
About Kohlberg
Kohlberg is a leading private equity firm specializing in middle
market investing. Since its inception in 1987, Kohlberg has
organized eight private equity funds, through which it has raised
over $7.5 billion of committed equity capital. Over its 30-year
history, Kohlberg has completed over 70 platform investments and
more than 160 add-on acquisitions, with an aggregate transaction
value of over $15 billion.
About BAAM
BAAM is the world’s largest discretionary investor in hedge
funds, with approximately $75 billion in assets under management.
BAAM manages a diversified set of businesses including a customized
solutions business, a special situations platform, a hedge fund
seeding business, an open-ended mutual fund platform and a business
that purchases stakes in established alternative asset
managers.
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version on businesswire.com: https://www.businesswire.com/news/home/20180323005123/en/
For KohlbergFinsburyBrooke Flohr,
+1-646-805-2823Brooke.Flohr@finsbury.comorFor BlackstonePaula
Chirhart, +1-212-583-5263paula.chirhart@blackstone.com
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