LightBay Capital, a private-equity firm started five years ago by former Ares Management Corp. executives, has begun pitching investors on its second fund, according to people familiar with the matter.
The Los Angeles firm is targeting $800 million for the vehicle and is in the early stages of the fundraising process, the people said. LightBay hasn’t yet set an upper limit for the size of the vehicle.
LightBay Capital applies a flexible capital approach to middle-market investing. Primarily focused on the consumer, healthcare, and business services industries, LightBay invests across the capital structure and in all market environments to help accelerate the growth of high-quality companies.
Source: Wall Street Journal
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