BEVERLY
HILLS, Calif., Nov. 21,
2024 /PRNewswire/ -- Levine Leichtman Capital
Partners ("LLCP") is pleased to announce the closing of a
$575 million multi-asset continuation
fund transaction. LLCP LMM Acquisition Fund, L.P. was formed to
acquire interests in three portfolio companies – Blue Ridge
Associates, Milton Industries and Resolution Economics – from LLCP
Lower Middle Market Fund, L.P. ("LMM II"). Hamilton Lane (Nasdaq:
HLNE) acted as lead investor and was supported by a diverse
syndicate of institutional investors.
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 $15.2 billion of institutional capital across 15
investment funds and has invested in over 100 portfolio companies.
LLCP currently manages $9.0 billion
of assets and has offices in Los
Angeles, New York,
Chicago, Miami, London, Stockholm, Amsterdam and Frankfurt. For more information, please visit
www.LLCP.com.
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
North America, Europe, Asia
Pacific and the Middle
East. Hamilton Lane has more than $947 billion in assets under management and
supervision, composed of more than $131
billion in discretionary assets and approximately
$816 billion in non-discretionary
assets, as of September 30, 2024.
Hamilton Lane specializes in building flexible investment programs
that provide clients access to the full spectrum of private markets
strategies, sectors and geographies. For more information, please
visit www.HamiltonLane.com.
Contact: Cathy Thomas;
cthomas@llcp.com
Logo -
https://mma.prnewswire.com/media/2349427/LLCP_Logo.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/llcp-announces-the-successful-close-of-575-million-multi-asset-continuation-fund-302312466.html
