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Laxman Pai, Opalesque Asia: L Squared Capital, a California growth investor launched by a pair of Chicago Growth Partners execs, has closed its oversubscribed third fund, L Squared Capital Partners III LLC, with just over $500 million of capital.
Family offices make up the vast majority of Fund III's capital commitments. With the closing of Fund III, the firm has achieved $1 billion in assets under management. The previous fund raised $325 million in 2018.
The firm makes long-term investments in leading growth companies in the areas of education technology, tech-enabled services and software, and industrial technology and services.
The Fund III effort, completed in the middle of the Covid-19 pandemic, was largely driven by the firm's existing investors, L Squared said in a statement today. However, L Squared also added several new high-quality limited partners to its investor base.
"We are incredibly appreciative of the tremendous support provided to us by our existing investors during this time of uncertainty," said Jeff Farrero, a managing partner at L Squared. "This allowed us to complete the fundraising quickly so that we can keep our focus on quality investing."
With its first two funds, L Squared completed 10 platform investments and has closed 26 add-on transactions, said the private equity firm. All of these investments have been made within the Firm's sectors of focus including education technology, tech-enabled services & software, and indust...................... To view our full article Click here
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