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LLR Partners closes third mid-market fund with USD800m in commitments

Philadelphia-based private equity firm LLR Partners, which has more than USD1.4bn under management, has raised LLR Equity Partners III, a mid-market private equity fund with USD800m in com

Philadelphia-based private equity firm LLR Partners, which has more than USD1.4bn under management, has raised LLR Equity Partners III, a mid-market private equity fund with USD800m in commitments.

Following on the successes of its first two funds, LLR Equity Partners I (raised in 1999) and LLR Equity Partners II (raised in 2004), the firm 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.

The firm says its new fund received strong interest from new and existing institutional and individual investors, exceeding its target of USD600m. ‘We are pleased to have the continued support of our existing limited partners and to have gained the confidence of many new investors,’ Ross says. ‘We look forward to continuing to develop partnerships with quality companies and providing superior returns for our investors.’

LLR III will invest in a broad range of industries, notably business services, health care, financial services and information technology. ‘The closing of LLR III is a strong validation of our investment philosophy,’ Ross says. ‘We are service-oriented investors who focus on compelling transactions where we can make a real difference.’

Founded in October 1999, LLR Partners focuses on equity investments ranging from USD10m to USD75m, taking majority or minority positions in middle-market growth businesses through transactions including buyouts, recapitalisations and expansion capital investments.

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