LLR Partners Raises $360 Million Private Equity Fund
LLR Equity Partners II will build on firm's success investing in middle market companiesPhiladelphia, Pa.-January 31, 2005-LLR Partners ("LLR"), one of the Mid-Atlantic region's largest private equity investment firms with over $600 million under management, announced today that it has raised LLR Equity Partners II ("LLR II"), a $360 million private equity fund. Following on the success of its first fund, LLR will continue to invest in middle market companies primarily in the Mid-Atlantic region that display growth potential, proven business models and outstanding management teams.
LLR II received strong interest from new and existing institutional and individual investors, exceeding the firm's target of $300 million. "We are pleased to have the continued support of our existing limited partners and to have gained the confidence of many new investors," says Ira Lubert, a partner with LLR. "We look forward to continuing to develop partnerships with quality companies and providing superior returns for our investors."
The successful close of LLR II validates the firm's investment philosophy of partnering with growth companies across a broad range of industries, with an emphasis on business services, healthcare, financial services and information technology. LLR focuses on equity investments ranging from $10 million to $40 million, in a variety of transactions, including buyouts, recapitalizations and expansion capital investments in middle market businesses.
"The closing of LLR II firmly solidifies LLR Partners as a long-term player in the Mid-Atlantic's private equity community," says Howard Ross, partner. "With this new fund, we have the ability to continue as a primary source of equity capital for middle market companies."
Founded in October 1999, LLR Partners has quickly become one of the Mid-Atlantic's most influential private equity firms. LLR's collaborative and creative approach to investing has enabled it to partner with some of the region's leading growth companies, including Crothall Services Group, eResearchTechnology, excelleRx, Gestalt, Heartland Payment Systems, InnaPhase and Prophet 21.
"LLR Partners is a sophisticated source of capital and one of the best business partners we have," says Bill Loftus, President and CEO of Gestalt, LLC. "The strategic counsel they have provided has been invaluable and we are fortunate to have them in our corner."
ABOUT LLR PARTNERS INC. (LLR)
LLR Partners Inc. is a $600 million private equity firm providing capital to middle market companies with growth potential, proven business models and outstanding management teams. LLR makes investments of $10 million to $40 million in a broad range of industries, with an emphasis on business services, healthcare, financial services and information technology. Based in the Philadelphia area with an emphasis on the Mid-Atlantic region, LLR seeks to create value through a variety of transactions, including buyouts, recapitalizations and expansion capital investments. For more information about LLR, please visit http://www.LLRPartners.com.