Kelso & Company Raises $3.25 Billion for Fund XI, Exceeding Target

Kelso & Company, L.P., a private equity firm specializing in middle market investing, recently announced the successful closing of Kelso Investment Associates XI and affiliated funds (collectively, "Fund XI"). With aggregate capital commitments of $3.25 billion, Fund XI has surpassed its original target. This achievement is a testament to Kelso's strong reputation in the industry and its commitment to delivering consistent performance.

Fund XI includes participation by Kelso partners and employees, totaling more than $400 million, representing a GP commitment of over 12%. This underscores the firm's alignment with its limited partners and reinforces its dedication to delivering exceptional results.

The Co-CEOs of Kelso, Chris Collins and Frank Loverro, expressed their gratitude for the support from investors and acknowledged the hard work of employees and management team partners who contribute to the firm's success. They also highlighted their excitement in deploying Fund XI to invest in strong middle market businesses with growth potential.

Lynn Alexander, Partner and Head of Investor Relations & Fundraising at Kelso, emphasized the continued commitment of existing limited partners, with a re-up rate of 95% from the previous fund. Additionally, the firm has attracted a significant number of new investors. This reiterates the trust and confidence that investors have in Kelso's investment approach and track record.

To facilitate the fundraise and formation of Fund XI, Kelso engaged Debevoise & Plimpton as its legal counsel. Their expertise and support were instrumental throughout the process.

Kelso & Company, L.P. is a North America-focused, middle market buyout private equity firm founded in 1980. The firm's investment philosophy centers around partnership and alignment of interest, inspired by the inventor of the Employee Stock Ownership Plan (ESOP), Louis Kelso. Kelso believes that when management, employees, and shareholders have shared equity ownership, it leads to better performance.

With a disciplined and focused approach, Kelso invests in targeted sectors where it has the necessary expertise to support management teams in driving accelerated growth. The firm is wholly owned by its employees, further aligning their interests with the success of the investments. Since its inception, Kelso has raised 11 private equity funds and invested approximately $19 billion of equity capital in over 140 companies.

Kelso's investor base is diverse and includes public and corporate pensions, sovereign wealth funds, insurance companies, consultants, financial institutions, and family offices. The firm's strong reputation and successful track record have made it a trusted partner for investors seeking attractive returns in the middle market.

For more information about Kelso & Company, L.P., please visit their website at www.kelso.com.