Kelso Reportedly Hits $1.3B First Close for Fund IX
November 26, 2014
Kelso & Co. has reportedly reached a first close on its Kelso Investment Associates IX, raising $1.3 billion in commitments. The fund is said to have a $2.5 billion target, with Kelso planning to commit $500 million of its own capital. Contributing LPs to the new fund include Maine Public Employees Retirement System and New Mexico Public Employees Retirement Association. Kelso's $5.1 billion predecessor vehicle, Fund VIII, closed in 2008, generating an IRR of 8.41% and a TVPI multiple of 1.20x as of September 30.