LNC Partners has held a final hard-cap closing of its second investment fund, LNC Partners II – SBIC LP (LNC II) with total commitments, including leverage, of $300 million.
LNC II was oversubscribed and received support from both existing and new investors, including financial institutions, fund of funds, university endowments, family offices, and high net worth individuals.
“We credit LNC’s success to our experienced investment team and we are thankful for the strong support and commitment we received from our investors,” said Mark Raterman, co-founder and managing partner of LNC Partners.
LNC invests in at least $10 million of capital in companies that have at least $5 million of revenue and $2 million to $10 million of EBITDA. Sectors of interest include business and information services; financial and insurance services; healthcare services; and niche manufacturing and distribution.
The new fund has already completed a minority investment in Prime Capital Investment Advisors, an Overland Park, Kansas-based provider of wealth management and retirement plan advisory services with more than $11 billion in client assets under management. LNC’s investment in Prime Capital closed in October 2019.
Weston, Virginia-based LNC was founded in 2011 by its managing partners Mark Raterman, Matt Kelty, and Robert Monk.
© 2019 Private Equity Professional | December 10, 2019