Kirkland & Ellis LLP represented HGGC, a leading middle-market private equity firm, in connection with the formation of its third fund, HGGC Fund III, with aggregate capital commitments of $1.84 billion, surpassing the Fund III target of $1.5 billion and reaching the $1.75 billion hard cap, exclusive of the general partner commitment. Fund III was launched on Sept. 6, 2016 and held its final closing on Dec. 14, 2016, which represents less than 100 days in market and less than six weeks from the first close. HGGC professionals are substantial personal investors in Fund III and remain collectively one of the largest investors across HGGC’s three funds, driving a strong alignment of interests between HGGC and its global limited partner base. The full release is available here.
The Kirkland team was led by investment funds partners Sarah Kirson and Justin Solomon, and included investments funds partners Steve Yoo and Kevin Bettsteller and associates Christopher Wynne, Gloria Ho and Courtney Chen; tax partner Daniel Meehan and associate Carol Wang; European financial regulatory partners Lisa Cawley and Prem Mohan and associate Seirian Thomas; and employee benefits partner Laura Bader and associate Erica Buerger.
Kirkland & Ellis is a global leader in providing sophisticated advice to private investment fund sponsors and select institutional investors with respect to all major alternative investment strategies. In the past three years alone, Kirkland has advised nearly 300 private investment fund sponsors, raising more than 400 funds representing in excess of $315 billion of capital commitments.