LongueVue Closes Fund III
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LongueVue Closes Fund III

LongueVue Capital has held a final close of LongueVue Capital Partners III, LP. The new fund was oversubscribed and closed at its hard cap of $252 million, including SBIC leverage. A number of new institutional investors committed to Fund III including The University of Texas Investment Management Company (UTIMCO).

“Our complementary partnership with the US Small Business Administration through the SBIC program enables Fund III to provide creative deal structures to entrepreneurs seeking growth capital,” said John McNamara, Co-founder and Managing Partner of LongueVue. “We believe our investment approach and team are uniquely suited to address the challenges and opportunities facing lower middle market entrepreneurs.”

LongueVue makes equity and debt investments in lower middle-market companies that have over $3 million of EBITDA and up to $150 million of annual revenue. Sectors of interest include business services, transportation and logistics, healthcare, energy services, and niche manufacturing. The firm was founded in 2001 and is based in New Orleans with additional offices in New York and Salt Lake City (www.lvcpartners.com).

“We are delighted to announce the closing of our third fund and are grateful for the confidence placed in us by both our returning and new limited partners,” said Rick Rees, Co-founder and Managing Partner of LongueVue. “We are thrilled to have UTIMCO and a number of other value-add limited partners as members of the LVC family. The lower middle market is an attractive sector for private equity investment, and we look forward to leveraging our strong track record and our value-oriented approach to identify exceptional opportunities to deploy capital.”

The firm’s earlier fund, LongueVue Capital Partners II, LP, closed in March 2012 with $175 million of capital.

© 2017 Private Equity Professional | March 31, 2017

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