Littlejohn & Co. closed the $2.84 billion Littlejohn Fund VI, a middle-market buyout fund, the private equity manager announced in a news release Tuesday.
The fund, which exceeded its $2.5 billion target, reached its hard cap, the news release said. The prior fund, Littlejohn Fund V, closed at its $2 billion hard cap, above its $1.5 billion target, in 2014.
Littlejohn Fund VI invests primarily in middle-market companies with $100 million to $800 million in annual revenues, and typically invests $50 million to $150 million in its private equity investments.
Investors in the fund include the $79.5 billion Virginia Retirement System, Richmond; $52.6 billion Maryland State Retirement & Pension System, Baltimore; $28.3 billion Texas Employees Retirement System, Austin; $15.2 billion Ohio Police & Fire Pension Fund, Columbus; and $9.8 billion Arizona Public Safety Personnel Retirement System, Phoenix.