LLR Partners, a Philadelphia-based private equity firm focused on the middle-markets, has closed its third fund with $800 million in capital commitments.
LLR Partners (“LLR”), one of the region's largest private equity investment firms with over $1.4 billion under management, announced today that it has raised LLR Equity Partners III (“LLR III”), an $800 million private equity fund. Following on the successes of its first two funds, LLR Equity Partners I (raised in 1999) and LLR Equity Partners II (raised in 2004), LLR will continue to invest in middle market growth companies with proven business models and outstanding management teams. The firm is led by its six partners: Mitchell Hollin, Seth Lehr, Ira Lubert, Scott Perricelli, David Reuter and Howard Ross.
LLR III received strong interest from new and existing institutional and individual investors, exceeding the firm's target of $600 million. “We are pleased to have the continued support of our existing limited partners and to have gained the confidence of many new investors,” said Howard Ross, a founder and partner of LLR. “We look forward to continuing to develop partnerships with quality companies and providing superior returns for our investors.”
Founded in October 1999, LLR Partners is one of the Mid-Atlantic's most active private equity firms. LLR focuses on equity investments ranging from $10 million to $75 million, taking majority or minority positions in middle market businesses through a variety of transactions, including buyouts, recapitalizations and expansion capital investments. LLR's collaborative and creative approach to investing has enabled it to partner with some of the region's leading growth companies, including Community Education Centers, Crothall Services Group, excelleRx, Five Below, Gestalt, Heartland Payment Systems, Maxwell Systems, Princeton Softech and Prophet 21.
LLR III will invest in a broad range of industries, with an emphasis on business services, healthcare, financial services and information technology. “The closing of LLR III is a strong validation of our investment philosophy. We are service-oriented investors who focus on compelling transactions where we can make a real difference,” says Mr. Ross. “We are appreciative of the vote of confidence from our new and existing investors and are excited to serve as a preferred source of equity capital for leading middle market growth companies.”
ABOUT LLR PARTNERS INC.
LLR Partners Inc. is a $1.4 billion private equity firm that provides capital to middle market growth companies with proven business models in a broad range of industries, including financial services, healthcare services, IT/software, business and consumer services. LLR is flexible in its approach, investing up to $75 million, taking minority or control positions and leading transactions ranging from expansion and growth capital to recapitalizations and buyouts. LLR creates value beyond its capital contribution by partnering with existing management teams and providing advice and access to its extensive business network. For more information about LLR, please visit www.LLRPartners.com.