Kline Hill Partners' third secondaries fund now 40% deployed

Kline Hill opened the data room for its third fund – with a target of $425m – in October 2019 and made a close on more than 90% of its target in February 2020.

A second and final close was held in April 2020, completing the raises at hard-cap for both Kline Hill Partners Fund III and a $150m overage fund, Kline Hill Partners Opportunity Fund III, Bego confirmed. This brought the firm's total assets under management to more than $1.5bn.

Kline Hill has continued to deploy capital throughout lockdown despite difficult market conditions in 2020. "Unlike most of the secondary market that stopped deploying, we invested 25% of KHP III by the end of June 2020 and are currently around 40% deployed," says Bego.

Kline Hill focuses on smaller LP stakes of less than $30m in buyout and venture funds. The firm also acquires direct company interests on a secondary basis.

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