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Hammond Kennedy Whitney closes Fund IV on $316m

22 Apr 2014

dollars roll_sqUS private equity firm Hammond Kennedy Whitney & Co has held a $316m final close for its fourth buyout fund.

HKW was hoping to gather up to $350m for the fund according to a previous filing with the US Securities and Exchange Commission, although it is unclear whether that figure was a target or a hard cap.

AltAssets revealed last summer that the firm had pulled in more than $127m from eight LPs after about a year on the road.

HKW gathered $202m for its third fund in 2007.

About 80 per cent of commitments for the latest vehicle came from institutional investors, the firm said, including two state pension funds, a university endowment, four funds of funds, and six insurance companies.

The firm is focused on management buy-outs of companies with revenues of between $20m and $200m and an EBITDA of $5m to $30m.

It makes investments ranging in size from $20m to more than $150m.

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