Levine Leichtman Capital Partners (LLCP) has closed its latest flagship vehicle, Fund VII, on more than $3.6bn, surpassing its initial target and marking one of the firm’s largest fundraises to date.

Despite the challenging fundraising landscape, the Los Angeles-based private equity firm received strong backing from both long-standing investors and a diversified pool of new institutional LPs. The close brings LLCP’s capital raised across its platform to over $4bn in the past two years, inclusive of significant co-investment capital.

LLCP’s fundraising momentum is underpinned by its differentiated and uncorrelated investment strategy, robust returns across market cycles, and consistent realisation activity. The firm has generated over $4.6bn in exits over the past three years, with notable transactions including Encore Fire Protection, Tropical Smoothie Cafe, Law Business Research, and Hand & Stone.

“We are extremely pleased with the immense support for Fund VII, which reflects considerable trust and strong conviction in LLCP’s proven strategy and team,” said Matthew Frankel, Managing Partner at LLCP. “The global investment community recognizes LLCP’s ability to generate substantial deployment and realization volume for our limited partners in the current market environment.”

Michael Weinberg, also a Managing Partner, added: “LLCP’s continued success reflects our team’s ability to source attractive investment opportunities, partner with talented management teams and build great companies. We look forward to continuing our 41-year track record of success through varying economic environments.”

Fund VII, nearly 1.5x the size of LLCP’s $2.5bn predecessor fund raised in 2018, will target market-leading, middle-market businesses in sectors such as franchising, business services, education & training, and engineered products. The fund has already deployed capital into several platforms, including All4, Schülerhilfe, and USA Water, with a fourth platform investment expected to close this month.

The oversubscribed fund close further cements LLCP’s positioning as a key player in the middle-market private equity space, with a strategy built on value creation and resilient deployment.

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