Fundraisers

L Squared Capital raises $505m

The Newport Beach-based asset manager has raised capital for its third North America-focused vehicle.

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Fund name: L Squared Capital Partners III
Amount raised: $505 million
Target size: $505 million
Predecessor fund: L Squared Capital Partners II

L Squared Capital Partners has raised $505 million for L Squared Capital Partners III, according to a recent US Securities and Exchange Commission filing. The fund will invest in companies in the industrial and TMT sector that are based in North America, providing venture and growth capital. It is unclear whether this is a final close or if the fund manager is seeking further capital.

The fund follows L Squared Capital Partners II, which raised $325 million in 2018.