Levine Leichtman Successfully Closes $575M Continuation Fund
Deal News | Nov 21, 2024 | Levine Leichtman Capital Partn
Levine Leichtman Capital Partners (LLCP) has closed a $575 million multi-asset continuation fund transaction. This fund, named LLCP LMM Acquisition Fund, L.P., is set to acquire interests in three companies: Blue Ridge Associates, Milton Industries, and Resolution Economics, from the LLCP Lower Middle Market Fund, L.P. (LMM II). The transaction allows LLCP to provide capital and additional time for these companies to realize their growth potential, while also presenting LMM II investors a liquidity event. Lead investor Hamilton Lane, alongside other institutional investors, supported this transaction. The fund aims to fully realize LMM II, with advisory input from Robert W. Baird & Co. and Kirkland & Ellis. The deal underscores LLCP's commitment to its portfolio companies and highlights Hamilton Lane's strategic value in providing scale and expertise.
Sectors
- Private Equity
- Financial Advisory
- Pneumatics and Hydraulics
- Retirement Plans Administration
- Consulting
Geography
- United States – Levine Leichtman Capital Partners and its portfolio companies are based in the United States, where the transaction predominantly takes place.
Industry
- Private Equity – The article discusses a continuation fund transaction managed by Levine Leichtman Capital Partners, emphasizing elements of private equity investment.
- Financial Advisory – Robert W. Baird & Co. and Kirkland & Ellis, LLP played crucial advisory roles in the transaction, highlighting the financial advisory industry.
- Pneumatics and Hydraulics – Milton Industries, involved in the transaction, serves the pneumatics and hydraulics sector, providing products to diverse markets including automotive and industrial maintenance.
- Retirement Plans Administration – Blue Ridge Associates' focus on technology-enhanced solutions for retirement plans falls under this sector.
- Consulting – Resolution Economics is a consulting firm providing economic and statistical analysis, fitting into the consulting industry sector.
Financials
- $575 million – Total value of the multi-asset continuation fund transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Levine Leichtman Capital Partners (LLCP) | Seller | Company | A private equity firm executing the continuation fund transaction. |
| Hamilton Lane | Lead Investor | Company | An investment management firm acting as the lead investor in the transaction. |
| Blue Ridge Associates | Portfolio Company | Company | Provides solutions for administration and recordkeeping of ESOPs and 401(k) plans. |
| Milton Industries | Portfolio Company | Company | Supplies products for pneumatic and hydraulic applications. |
| Resolution Economics | Portfolio Company | Company | Specializes in economic and statistical analysis for litigation matters. |
| Robert W. Baird & Co. | Financial Advisor | Company | Served as exclusive financial advisor to LLCP on the transaction. |
| Kirkland & Ellis, LLP | Legal Advisor | Company | Provided legal counsel to LLCP on the transaction. |