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Laxman Pai, Opalesque Asia: Los Angeles-based private equity firm LightBay Capital announced the successful close of LightBay Investment Partners II with total capital commitments of $1.04 billion.
The oversubscribed Fund exceeded its target of $800 million and closed at its hard cap, attracting commitments from a diverse investor group which includes state and local pension funds, family offices, foundations, fund of funds, insurers, LightBay's network of highly experienced industry executives, and LightBay professionals, said a media release from the PE general partner firm that applies a flexible capital approach to middle market investing.
LightBay's all-weather investment strategy allows the Firm to evaluate and pursue attractive risk-reward opportunities across the capital structure and through all economic cycles, it said.
"LightBay Fund II will continue the Firm's longstanding focus of partnering with best-in-class management teams across tech-enabled services, outsourced business-to-business services, healthcare services, HCIT, and consumer services, where investments in people, processes, and systems can lead to sustained competitive differentiation and accelerated growth," said the release.
LightBay has partnered with eleven companies and has completed more than 140 add-on acquisitions since its inception. To date, LightBay has made two investments out of LightBay Fund II through the acquisitions of Clarion Home Services Group and Infinit...................... To view our full article Click here
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