Levine Leichtman Capital Partners held a final closing on $1.65 billion of capital commitments for Levine Leichtman Capital Partners Fund V, LP, exceeding its target of $1.5 billion. The firm’s earlier fund, Levine Leichtman Capital Partners IV, LP, a 2008 vintage fund, had $1.1 billion of capital commitments.
Fund V received worldwide support from institutional investors including public and private pension funds, sovereign wealth funds, endowments and foundations, insurance companies, fund of funds and family offices.
“We are very pleased by the support we have received from existing and new limited partners. Institutional investors responded very favorably to our differentiated investment strategy and to our 30 year investment track record. LLCP has generated consistent and attractive risk-adjusted returns across many economic cycles,” said Lauren Leichtman, CEO of Levine Leichtman Capital Partners.
Fund V has already closed two investments and invested approximately $200 million of capital. In November 2013 Fund V acquired Genova Diagnostics, a specialty clinical laboratory that is based in Asheville, NC (www.gdx.net). In August 2013 Fund V made a growth capital investment in SFERRA Fine Linens, a designer and producer of branded, Italian luxury linen products sold through luxury retailers and specialty boutiques. SFERRA is headquartered in Edison, NJ (www.sferra.com).
Levine Leichtman manages approximately $7 billion of capital through private equity partnerships, distressed debt and leveraged loan funds. The firm is currently making new investments through Levine Leichtman Capital Partners V, LP; Levine Leichtman Capital Partners SBIC Fund, LP; and Levine Leichtman Capital Partners Private Capital Solutions II, LP. The firm is based in Los Angeles with offices in Chicago, Dallas, New York and London (www.llcp.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 3-27-14