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Kelso & Co eyes enormous $500m GP commitment for $2.5bn-targeting Fund IX

26 Aug 2014

dollars cash money dollars capitalUS private equity house Kelso & Co is reported ready to commit a massive 20 per cent of the $2.5bn target for its ninth flagship fundraise as a GP commitment.

The commitment of up to $500m was revealed by the Maine Public Employees Retirement System, which approved a $60m investment in the fund earlier this month according to peHub.

Most firms tend to commit just one or two per cent of fund totals, with notable decisions to invest more including Bain Capital hitting double figures for its eleventh fund, which hit its £6bn target earlier this year.

Kelso was in the market to raise between $2.5bn and $3bn according to a report by Bloomberg earlier this year, well below the $5.1bn it gathered for its eight flagship vehicle in 2008.

In January the firm swiped Court Square Capital Partners investor relations head John Kim in time to work on the latest fundraise.

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