LLCP Announces the Successful Close of $575 Million Multi-Asset Continuation Fund
Levine Leichtman Capital Partners (LLCP) has closed a $575 million multi-asset continuation fund transaction. The fund, LLCP LMM Acquisition Fund, L.P., will acquire interests in three portfolio companies: Blue Ridge Associates, Milton Industries, and Resolution Economics from LLCP Lower Middle Market Fund. Hamilton Lane (HLNE) acted as lead investor in the transaction, which aims to provide additional growth capital and time for the portfolio companies while offering liquidity options to LMM II partners.
Levine Leichtman Capital Partners (LLCP) ha chiuso una transazione per un fondo di continuazione multi-asset del valore di 575 milioni di dollari. Il fondo, LLCP LMM Acquisition Fund, L.P., acquisirà interessi in tre aziende del portafoglio: Blue Ridge Associates, Milton Industries e Resolution Economics dal fondo LLCP Lower Middle Market Fund. Hamilton Lane (HLNE) ha agito come investitore principale nella transazione, che mira a fornire ulteriore capitale per la crescita e tempo per le aziende del portafoglio, offrendo nel contempo opzioni di liquidità ai partner di LMM II.
Levine Leichtman Capital Partners (LLCP) ha cerrado una transacción de un fondo de continuación de multi-activos por 575 millones de dólares. El fondo, LLCP LMM Acquisition Fund, L.P., adquirirá intereses en tres compañías de la cartera: Blue Ridge Associates, Milton Industries y Resolution Economics del LLCP Lower Middle Market Fund. Hamilton Lane (HLNE) actuó como inversor principal en la transacción, que tiene como objetivo proporcionar capital adicional para el crecimiento y tiempo para las compañías de la cartera, al tiempo que ofrece opciones de liquidez a los socios de LMM II.
레바인 라이흐트만 캐피탈 파트너스 (LLCP)가 5억 7천 5백만 달러 규모의 다중 자산 연속 펀드 거래를 완료했습니다. 이 펀드, LLCP LMM Acquisition Fund, L.P.는 Blue Ridge Associates, Milton Industries, Resolution Economics라는 세 개의 포트폴리오 회사에 대한 지분을 LLCP 저중간 시장 펀드로부터 인수할 것입니다. 해밀턴 레인 (HLNE)은 거래의 주요 투자자로 활동했으며, 이는 포트폴리오 회사에 추가 성장 자본과 시간을 제공하고 LMM II 파트너들에게 유동성 옵션을 제공하는 것을 목표로 하고 있습니다.
Levine Leichtman Capital Partners (LLCP) a clôturé une transaction de fonds de continuation multi-actifs d'une valeur de 575 millions de dollars. Le fonds, LLCP LMM Acquisition Fund, L.P., acquerra des participations dans trois entreprises du portefeuille : Blue Ridge Associates, Milton Industries et Resolution Economics provenant du LLCP Lower Middle Market Fund. Hamilton Lane (HLNE) a agi en tant qu'investisseur principal dans la transaction, qui vise à fournir un capital de croissance supplémentaire et du temps pour les entreprises du portefeuille tout en offrant des options de liquidité aux partenaires de LMM II.
Levine Leichtman Capital Partners (LLCP) hat eine Transaktion für einen Multi-Asset-Fortsetzungsfonds in Höhe von 575 Millionen US-Dollar abgeschlossen. Der Fonds, LLCP LMM Acquisition Fund, L.P., wird Anteile an drei Portfoliounternehmen erwerben: Blue Ridge Associates, Milton Industries und Resolution Economics aus dem LLCP Lower Middle Market Fund. Hamilton Lane (HLNE) fungierte als führender Investor in der Transaktion, die darauf abzielt, zusätzliches Wachstums- und Zeitkapital für die Portfoliounternehmen bereitzustellen und den Partnern von LMM II Liquiditätsoptionen anzubieten.
- Successfully closed a significant $575 million continuation fund
- Full liquidity provided to existing investors
- Strategic partnership with Hamilton Lane as lead investor
- Portfolio includes three established companies in diverse sectors
- None.
Insights
The transaction is designed to provide more time and additional capital to assist each portfolio company in achieving its growth potential while offering a liquidity option to LMM II LPs interested in crystallizing performance across the portfolio. LMM II will be fully realized upon completion of the transaction.
Michael Weinberg, Managing Partner, and Andrew Schwartz, Partner, at LLCP, said, "We are appreciative of Hamilton Lane's support and are excited to continue our partnership with the management teams of Blue Ridge Associates, Milton Industries, and Resolution Economics. We're proud of the success each of these companies has achieved and are strong believers in their future prospects. With this transaction, we are happy to deliver full liquidity on an accelerated basis to our investors and fully-realize LMM II."
Ryan Smith, Managing Director on the Secondary Investment Team at Hamilton Lane, said, "We are excited to support these high-quality LLCP portfolio companies in their next stage of growth. This transaction highlights Hamilton Lane's unique value as a strategic partner, providing scale, expertise and experience to facilitate compelling solutions for GPs and LPs alike."
The three assets in the LLCP Continuation Fund ("CV Portfolio") include:
- Blue Ridge Associates, a leading provider of technology enhanced solutions and services for the administration and recordkeeping of ESOPs and associated 401(k) plans. The company's comprehensive service offerings and highly experienced professional administrators address the complex and mission-critical needs of ESOP and other qualified retirement plans, which have provided the company with a reputation as one of the highest-quality service providers in the market.
- Milton Industries, a leading provider of highly-engineered products for pneumatic and hydraulic applications across diverse end markets including vehicle services, industrial maintenance, repair and operation (MRO), military/aviation, agriculture and other sectors. The company has thousands of customers and a broad portfolio of products including couplers, gauges, chucks, blow guns, filters, regulators, lubricators, hoses and fittings, specialty tools and fluid management equipment.
- Resolution Economics, a specialty consulting firm that provides economic and statistical analysis as well as expert testimony and other compliance services to leading law firms and corporations in labor & employment and commercial litigation matters. The company specializes in highly complex class action lawsuits and, as such, employs a highly specialized workforce.
Robert W. Baird & Co. served as exclusive financial advisor to LLCP and Kirkland & Ellis, LLP provided legal counsel to LLCP on the transaction.
About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 40-year track record of investing across various targeted sectors, including Business Services, Franchising & Multi-unit, Education & Training and Engineered Products & Manufacturing. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. LLCP believes that by investing in a combination of debt and equity securities, it offers management teams growth capital in a highly tailored, flexible investment structure that can be a more attractive alternative than traditional private equity.
LLCP's global team of dedicated investment professionals is led by 10 partners who have worked at LLCP for an average of 20 years. Since inception, LLCP has managed approximately
About Hamilton Lane
Hamilton Lane is one of the largest private markets investment firms globally, providing innovative solutions to institutional and private wealth investors around the world. Dedicated exclusively to private markets investing for more than 30 years, the firm currently employs approximately 730 professionals operating in offices throughout
Contact: Cathy Thomas; cthomas@llcp.com
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SOURCE Levine Leichtman Capital Partners, LLC
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