Kirkland Advises Periscope Equity on Close of $370 Million Oversubscribed Third Fund

Kirkland & Ellis advised Periscope Equity, a Chicago-based private equity firm, on the close of Periscope Equity III, L.P., with aggregate commitments of $370 million, exceeding its target of $300 million in under 12 months from official launch. Fund III’s investor base comprises both new and returning limited partners, featuring a diverse mix of leading university endowments, pension funds, charitable foundations, consultants, funds-of-funds and family offices. Since 2018, Periscope has raised approximately $700 million in committed capital across its three funds, invested in 11 platform companies and completed 28 add-on acquisitions.

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The Kirkland team included investment funds lawyers Dan McQuade, Michael Wester, Nick Hemmingsen, Christine Matott, Nathan Howe, Hannah Cloh and Jake Ahlgren; and tax lawyers Christopher Odell and Alex Stephenson.