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 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 three-part platform serving the private equity industry. Our affiliated executive search and advisory services provide access to a network of 250,000+ 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. For more information, visit: www.lcapitalmgmt.com.