Kohlberg joins a growing number of firms with continuation vehicles

Kohlberg & Company is the latest firm to close the books on a continuation vehicle, raising $1.1 billion from key investors.

The transaction was co-led by affiliates of BlackRock, GIC and Lexington Partners and the continuation vehicle encompasses the remaining assets of Kohlberg Investors VII, a 2012 vintage fund with $1.6 billion in capital commitments.

It is the first such offering for Kohlberg, but continuation funds are growing in popularity as investors seek to maximize their private equity holdings.

“We believe this transaction provides our Limited Partners with the maximum . . .

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