Levine Leichtman Capital Partners Announces Successful Closing of $575 Million Multi-Asset Continuation Fund
Levine Leichtman Capital Partners (LLCP) recently made headlines with the successful closure of a $575 million Multi-Asset Continuation Fund. This significant financial maneuver is aimed at acquiring interests in three of its portfolio companies: Blue Ridge Associates, Milton Industries, and Resolution Economics. The acquisition is facilitated through the LLCP LMM Acquisition Fund, L.P., demonstrating LLCP’s strategy to bolster its investment activities and support the growth potential of its assets.
The lead investor for this continuation fund is Hamilton Lane (Nasdaq: HLNE), supported by a consortium of institutional investors. The primary objective of the fund is twofold: to provide additional time and capital to these individual portfolio companies, and to offer liquidity options to the limited partners of the previous LLCP Lower Middle Market Fund, L.P. (LMM II). Following this transaction's conclusion, LMM II will be fully realized, indicating a strategic shift towards optimizing performance and liquidity for its investors.
Michael Weinberg, managing partner at LLCP, along with Andrew Schwartz, a partner, expressed gratitude towards Hamilton Lane for their support and emphasized the firm’s ongoing partnership with management teams at Blue Ridge Associates, Milton Industries, and Resolution Economics. "We are proud of each company's success and firmly believe in their future prospects," said Weinberg.
Blue Ridge Associates stands out as a top provider of technology-driven solutions for the management and documentation of Employee Stock Ownership Plans (ESOPs) and other qualified retirement plans, including 401(k) plans. The firm’s comprehensive service offerings, backed by experienced administrators, cater to complex organizational needs, establishing it as one of the highest-rated service providers in the ESOP market.
Milton Industries is recognized for its advanced pneumatic and hydraulic product offerings, servicing a range of markets including automotive service, industrial maintenance, and military/aerospace sectors. With an extensive catalog that includes couplings, gauges, blow guns, filters, and fluid management equipment, the company is well-positioned to meet diverse client demands.
On the consultancy side, Resolution Economics specializes in economic and statistical analysis, as well as expert testimony concerning employment-related disputes. Highlighting their expertise, the firm focuses on complex class action cases, highlighting their commitment to providing specialized services within legal frameworks.
Robert W. Baird & Co. served as the exclusive financial advisor to LLCP on this transaction, while Kirkland & Ellis, LLP provided legal counsel. These partnerships enhance LLCP’s resource network in navigating complex financial landscapes.
LLCP is not a novice in the private equity domain, having spent nearly 40 years investing with a focus on middle-market companies. The firm adopts a hybrid approach that combines debt and equity investments, offering flexible capital structures to their portfolio companies. This unique strategy is intended to address the specific needs of management teams facing rigid traditional private equity frameworks.
LLCP manages approximately $9.0 billion in assets, with a devoted global team of investment experts led by 10 partners, all of whom boast an average tenure of over 20 years with the firm. LLCP’s investment philosophy underpins its history of successfully deploying over $15.2 billion in capital across 100 portfolio companies.
The lead investor for this continuation fund is Hamilton Lane (Nasdaq: HLNE), supported by a consortium of institutional investors. The primary objective of the fund is twofold: to provide additional time and capital to these individual portfolio companies, and to offer liquidity options to the limited partners of the previous LLCP Lower Middle Market Fund, L.P. (LMM II). Following this transaction's conclusion, LMM II will be fully realized, indicating a strategic shift towards optimizing performance and liquidity for its investors.
Michael Weinberg, managing partner at LLCP, along with Andrew Schwartz, a partner, expressed gratitude towards Hamilton Lane for their support and emphasized the firm’s ongoing partnership with management teams at Blue Ridge Associates, Milton Industries, and Resolution Economics. "We are proud of each company's success and firmly believe in their future prospects," said Weinberg.
Blue Ridge Associates stands out as a top provider of technology-driven solutions for the management and documentation of Employee Stock Ownership Plans (ESOPs) and other qualified retirement plans, including 401(k) plans. The firm’s comprehensive service offerings, backed by experienced administrators, cater to complex organizational needs, establishing it as one of the highest-rated service providers in the ESOP market.
Milton Industries is recognized for its advanced pneumatic and hydraulic product offerings, servicing a range of markets including automotive service, industrial maintenance, and military/aerospace sectors. With an extensive catalog that includes couplings, gauges, blow guns, filters, and fluid management equipment, the company is well-positioned to meet diverse client demands.
On the consultancy side, Resolution Economics specializes in economic and statistical analysis, as well as expert testimony concerning employment-related disputes. Highlighting their expertise, the firm focuses on complex class action cases, highlighting their commitment to providing specialized services within legal frameworks.
Robert W. Baird & Co. served as the exclusive financial advisor to LLCP on this transaction, while Kirkland & Ellis, LLP provided legal counsel. These partnerships enhance LLCP’s resource network in navigating complex financial landscapes.
LLCP is not a novice in the private equity domain, having spent nearly 40 years investing with a focus on middle-market companies. The firm adopts a hybrid approach that combines debt and equity investments, offering flexible capital structures to their portfolio companies. This unique strategy is intended to address the specific needs of management teams facing rigid traditional private equity frameworks.
LLCP manages approximately $9.0 billion in assets, with a devoted global team of investment experts led by 10 partners, all of whom boast an average tenure of over 20 years with the firm. LLCP’s investment philosophy underpins its history of successfully deploying over $15.2 billion in capital across 100 portfolio companies.
Topics Financial Services & Investing）
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