L Capital Closes Fund II and Fund II Parallel with $54 Million in Commitments
SAN FRANCISCO, April 1, 2022 – L Capital has formally closed its second flagship fund, L Capital II LP and L Capital II Parallel LP (together “Fund II”), with $54 million in total capital commitments. Fund II is more than 2.5x the size of L Capital’s inaugural Fund I and takes total firm AUM to $80+ million.
The Fund II investors include many of L Capital’s Fund I limited partners (high-net-worth individuals and C-suite executives) and adds several new single-family and multi-family office relationships. Fund II builds on the success of L Capital’s Fund I and will continue to invest alongside leading growth equity and buyout firms across Technology, Business Services, Industrial and Consumer sectors.
“We are deeply grateful to our limited partners for their continued support and confidence. Fund II will be a continuation of our strategy of leveraging executive insights to unlock PE deal opportunities and accelerate portfolio company growth,” said Bart Foster, Managing Partner of L Capital.
L Capital’s Fund II is already ~65% invested across 12 portfolio companies. The Fund’s co-investment partners include leading GPs such as Permira, GI Partners, GrowthCurve Capital, Potentia Capital, Bregal Partners, Eurazeo and Banneker Partners. L Capital will continue to invest out of Fund II over the next two quarters and will soon begin the formation of L Capital III LP (“Fund III”) in Fall of 2022.
About L Capital
L Capital is a specialty private equity firm that advises and invests alongside the world’s leading buyout and growth equity firms.
The L Capital strategy combines longstanding private equity investor relationships with our global executive network to unlock and transform deal opportunities in Technology, Business Services, Consumer and Industrial sectors. The result: differentiated insights for investors, high-impact leadership for companies, and unparalleled access for our limited partners. L Capital invests in lower and middle-market companies across Technology, Business Services, Consumer, and Industrial sectors.
Founded in 2015, L Capital is a part of a unique three-part platform serving the private equity industry. Together with our affiliates, Renovata and Zeren, we provide services across the investment lifecycle: origination, transaction diligence & advisory, executive search, talent solutions, and co-investments. www.lcapitalmgmt.com