Levine Leichtman aims to raise up to $3.3bn for its inaugural flagship fund following co-founder succession.

Levine Leichtman Capital Partners (LLCP), a private equity firm based in Los Angeles, is reportedly aiming to raise up to $3.3 billion for its inaugural flagship fund. This comes after the firm announced a succession plan for its co-founders, Lauren Leichtman and Arthur Levine, who will be stepping down from their roles as co-CEOs.

The new fund, called Levine Leichtman Capital Partners VI, will focus on investing in middle-market companies across North America and Europe. The firm has a long history of investing in a variety of sectors, including healthcare, consumer products, and business services.

LLCP has a strong track record of successful investments, having completed over 80 platform investments and over 150 add-on acquisitions since its founding in 1984. The firm has also generated strong returns for its investors, with an average gross internal rate of return (IRR) of 23% across its previous funds.

The decision to raise a new flagship fund comes as LLCP looks to continue its growth and expand its investment capabilities. The firm has already made several high-profile investments in recent years, including the acquisition of Capsa Healthcare, a provider of healthcare technology solutions, and the purchase of FlexXray, a provider of X-ray inspection services for food manufacturers.

LLCP’s co-founders, Leichtman and Levine, will remain involved with the firm as co-chairpersons of the board of directors. They will also continue to serve as senior advisors to the investment team.

The succession plan for LLCP’s co-founders is part of a broader trend in the private equity industry, as many firms look to transition leadership roles to the next generation of leaders. This allows firms to maintain continuity while also bringing in fresh perspectives and ideas.

Overall, LLCP’s new flagship fund represents an exciting opportunity for investors looking to gain exposure to middle-market companies across North America and Europe. With a strong track record of successful investments and a talented team of investment professionals, LLCP is well-positioned to continue its growth and success in the years to come.

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