L Capital Completes First Closing for its Fund III, Bringing Total Capital Under Management to Over $115 Million
San Francisco, California | October 31, 2022
L Capital recently completed the first closing of its third flagship private equity fund, L Capital III LP (“Fund III”) with total capital commitments of $36 million. The Firm expects to reach their $100 million Fund III target and complete a final closing in 2023 given strong interest from returning and new investors. To date, L Capital’s Limited Partners include high-net-worth individuals and single/multi-family offices across North America, Europe and Australia.
L Capital is a specialty private equity firm that leverages a global executive network to advise and invest alongside leading buyout and growth equity firms. Since 2015, the Firm has invested in 22 platform companies and realized 9 full/partial exits. Fund I, a 2017 vintage vehicle, has returned 40% net IRR to investors and continues to be a top-quartile performing fund.
Fund III, a continuation of L Capital’s core strategy, will focus on: i) buyout and late-stage growth equity investments, ii) profitable companies in the lower to middle-market, iii) Technology, Business Services, Consumer and Industrial sectors, and iv) North American, European and Australian geographies.
L Capital will begin deploying capital from Fund III in Q4 2022.
Visit the L Capital website to learn more.
About L Capital:
L Capital is a specialty private equity firm that advises and invests alongside leading buyout and growth equity firms. Our strategy leverages longstanding private equity sponsor relationships and a global executive network to unlock and transform PE deal opportunities across the Technology, Business Services, Industrial and Consumer sectors. The result: strategic insights for PE investors, high-impact leadership for their portfolio companies and access to differentiated returns for L Capital’s limited partners.
Founded in 2015, L Capital is a part of a unique platform serving the private equity industry. Our affiliated executive search and recruitment firms, provide access to a network of 200,000+ senior executives which we leverage to provide value across the PE investment lifecycle including deal origination, diligence support, executive search, and team buildouts. This executive network is a key differentiator and offers a unique lens into companies through the executives who lead them.
Disclaimers & Notes:
This press release is provided for information purposes only. L Capital is not hereby providing investment advice or providing any person with any right to rely on the contents of this press release. This press release does not constitute an offer to sell or the solicitation of an offer to buy limited partnership interests in L Capital III LP (the “Interests”) or any other security in any jurisdiction and shall not, in any circumstance, constitute an offer, solicitation or sale in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful. There is no public offering of the Interests. The Interests are being offered by means of a private placement to suitable investors.
*References to capital under management include all capital commitments since firm inception (uncalled + called).
*IRR calculations include Fund I realizations and fair market values of remaining investments. Presented net of management fees, partnership expenses, carried interest and other expenses.