Hellman & Friedman LLC held a final close on the firm’s fifth fund, Hellman & Friedman Capital Partners V LP on Monday, June 28. The $3.5 billion vehicle is the largest fund the firm has raised to date. It is also the largest vehicle to close in the second quarter of 2004. The fund is scheduled to be formally announced later today. Hellman & Friedman declined to comment, but the fund closing was confirmed by sources close to the firm. Buyouts reported in March that the fund was nearing a final close with a likely capitalization of $2.5 billion.
Hellman & Friedman Capital Partners IV, the firm’s current investment arm, closed in 2000, oversubscribed with $2.2 billion. Investors in fund IV include Columbia University, Bell Atlantic Corp., Chase Capital Partners, Virginia Retirement System and the New York State Comptroller’s Office.