Los Angeles private equity firm Levine Leichtman Capital Partners closed its latest fund with total capital commitments of $1.38 billion.
LLCP Lower Middle Market Fund III was significantly oversubscribed and will invest in U.S. lower middle market companies with less than $50 million in revenue. The fund relies on the firm’s existing strategy to invest in entrepreneur-led businesses in the areas of franchising, business services, education and engineered products.
Officials said they plan to announce the first platform investment in the near future.
“The success of LLCP’s lower . . .
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