Lucky Number Seven: LLCP Closes Newest Fund at $3.6 Billion

Levine Leichtman Capital Partners (LLCP) has closed LLCP Fund VII LP above its target with over $3.6 billion in capital commitments.

Fund VII was backed by strong participation from both existing limited partners and new institutional investors. The new fund, which is nearly 1.5 times the size of its predecessor fund that closed at $2.5 billion in 2018, will continue LLCP’s strategy of investing in the franchising, business services, education and training, and engineered products sectors.

Over the past three years, LLCP has been actively returning cash to its limited partners and has closed more than $4.6 billion in full and partial portfolio exits from Fund VI, including the sale of Encore Fire Protection to Permira in March 2025; the sale of Tropical Smoothie Café, a franchisor of fast casual restaurants, to Blackstone in May 2024; the sale of Law Business Research to ICG in May 2024; and the sale of Hand & Stone Massage and Facial Spa, a Fund V portfolio company, to Harvest Partners in June 2022.

“We are extremely pleased with the immense support for Fund VII, which reflects considerable trust and strong conviction in LLCP’s proven strategy and team,” said Matthew Frankel, a managing partner at LLCP. “The global investment community recognizes LLCP’s ability to generate substantial deployment and realization volume for our limited partners in the current market environment.”

Levine Leichtman’s Fund VII has already closed three platform investments, including All4, a Pennsylvania-based provider of environmental, health and safety consulting services in January 2025; Schülerhilfe, a Germany-based provider of site-based and online tutoring services in December 2024; and USA Water, a Texas-based provider of operations and maintenance services for water and wastewater systems across the Southeast United States in February 2024.

LLCP reports that a fourth platform investment is expected to close later this month.

“We are grateful for the continued support and confidence we received from our returning and new limited partners,” said Michael Weinberg, a managing partner at LLCP. “LLCP’s continued success reflects our team’s ability to source attractive investment opportunities, partner with talented management teams and build great companies.”

Since its founding in 1984 by Arthur Levine and Lauren Leichtman, Levine Leichtman has now managed more than $20 billion of institutional capital across 16 investment funds and has invested in over 100 portfolio companies. The firm has offices in Los Angeles, New York, Chicago, Miami, London, Stockholm, The Hague, and Frankfurt.

© 2025 Private Equity Professional | July 11, 2025