Levine Leichtman closes first European fund

The LA-based firm closed the structured equity fund above its €95m target

US-based investment firm Levine Leichtman Capital Partners (LLCP) has closed its debut European investment fund – Levine Leichtman Capital Partners Europe – on €100 million, exceeding its €95 million target, according to a statement.

Limited partners in the structured equity fund include endowments, fund of funds, state and corporate pension plans, family offices and insurance companies, according to the firm’s website. The fund will invest in Western Europe, which will continue the firm’s expansion in the continent since opening an office in London in 2010 and in The Hague, Netherlands at the start of this year.

“We are very excited about the launch of our dedicated European Investment Fund and believe this is the beginning of a long-term commitment to continental Europe,” LLCP’s co-founder and chief executive officer Lauren Leichtman said in the statement. “LLCP is ideally positioned in Europe to continue our strategy of providing capital to industry leading middle-market companies,” she added.

Last week, Wouter Snoeijers, former investment director at Dutch pension fund PGGM, joined LLCP as managing director to the firm’s Netherlands office. Snoeijers will manage LLCP’s structured equity investment team, which focuses on due diligence and investing across Europe. He previously spent seven years at buyout firm Permira, where he worked in the telecom, media, technology and financial divisions.

LLCP is headquartered in Beverly Hills but has other offices located in the US, Dubai, London and The Hague. The firm invests in US and European mid-market companies and has managed about $7 billion through private equity partnerships and loan funds. 

The firm is currently in market with its 2014-vintage fund of funds vehicle – LLCP Co-Investment Fund – which is targeting $250 million. The fund will invest in North American companies.