Firm: Littlejohn & Co.
Fund: Littlejohn Fund IV LP
Amount Raised: $398 million
Target: $1.25 billion
Placement Agent: Park Hill
The Greenwich, Conn.-based turnaround firm came to market with
If the target is reached, the fund will be a significant jump for Littlejohn & Co., which is coming off of an $850 million third fund. That vehicle initially had only $650 million in commitments, but raised an additional $200 million in 2006. Raising a top-off fund allowed the firm to avoid heading out to market to raise another formal partnership, while LPs were able to commit more capital to the firm without competing for slots with new investors.
According Oregon Public Employee’s Retirement Fund, Littlejohn Fund II has returned 1.48x its money. The pension fund invested $50 million to the vintage-1999 fund.
Littlejohn & Co.’s media representative declined to comment for this story.