 In 1992, the firm raised its first institutional private equity fund (DLJ Merchant Banking Partners, LP) with $1 billion in investor commitments.In 1997, the firm raised its second fund with $3 billion in investor commitments and three years later in 2000 raised its largest fund to date at $5.3 billion.After the acquisition of DLJ, the group, which was led by Thompson Dean and Larry Schloss faced significant turnover.