Kohlberg completes first continuation vehicle transaction

Kohlberg announced completion of its first continuation vehicle transaction, covering the remaining assets of Kohlberg Investors VII. Affiliates of BlackRock, GIC and Lexington Partners co-led the transaction. The vehicle was intended to support the growth of four platform investments while offering existing Fund VII limited partners liquidity and reinvestment choices. Investors could choose full liquidity, a status-quo rollover, or reinvestment to participate in new capital commitments. The three lead investors also agreed to contribute their proportionate share of additional capital for the remaining assets. Lazard served as Kohlberg's exclusive financial adviser, while Ropes & Gray acted as its legal counsel.