Kline Hill Partners closes debut secondaries fund; hard-cap of $180 million in limited partner commitments

February 10, 2017 - Financial Digest

Greenwich, CT Kline Hill Partners LP completed the final closing of its debut secondaries fund, Kline Hill Partners Fund LP (KHP Fund), at its hard-cap of $180 million in limited partner commitments, surpassing the $120 million target fund size.

KHP Fund acquires interests primarily in buyout, growth equity, and venture capital limited partnerships, but will also consider stakes in real estate, energy, and private credit funds as well as make secondary purchases directly in PE- or VC-backed companies. Kline Hill is led by Michael Bego and Jared Barlow who each count on over a decade of secondary investment experience, having completed secondary transactions in hundreds of funds over their careers.

“We are excited to focus on the smaller end of the private equity secondary market and build a firm dedicated to working with sellers of all types, including those with smaller or more fragmented asset pools, while delivering value for our clients,” said Bego. “We bring an institutional, responsive approach to even the smallest transactions, and have years of experience providing tailored and creative solutions to sellers who might otherwise be challenged to find liquidity. This expertise positions Kline Hill uniquely within the evolving secondary market.”

The fund’s investor base includes 80 limited partners, including U.S. and international foundations, endowments, family offices, and other private markets investors.

“We are honored to partner with a blue-chip group of investors and are extremely grateful for their support,” said partner Jared Barlow.

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