Littlejohn & Company has closed Littlejohn Fund IV on $1.34 billion in commitments, surpassing its $1.25 billion target and the $850 million raised by its vintage 2005 predecessor fund. 80% of Fund IV has been earmarked for control investments. The remaining 20% will be used to invest in distressed opportunities with the intent to gain control. Park Hill Group served as the fund's placement agent, while Morrison Cohen acted as legal counsel.