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Laxman Pai, Opalesque Asia: Los Angeles-based global alternative investment firm Levine Leichtman Capital Partners (LLCP) held the final close of its LLCP Fund VII at $3.6 billion, well above its original target amid a tough fundraising environment.
The fund was significantly oversubscribed despite one of the most challenging fundraising environments in recent history, receiving strong support from its existing investor base as well as a diverse set of new institutional investors, said a media release from the middle market private equity firm.
Investors in the fund include the Connecticut Retirement Plans and Trust Funds, which committed $200 million in March after having invested in previous vintages of the $12.7 billion firm's flagship series. LLCP has raised well over $4 billion of capital across its platform in the last twenty-four months, including substantial co-investment capital.
According to the release, LLCP attributes its fundraising success to several competitive advantages, including a differentiated, uncorrelated investment strategy that has consistently delivered robust investment returns across multiple investment cycles, exit activity that has outpaced the broader market, and the consistent deployment of capital in attractive opportunities well-aligned with LLCP's core strengths.
LLCP has executed over $4.6 billion of realizations over the past three years through numerous successful sale transactions, including Encore Fire Protection, Tr...................... To view our full article Click here
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