Linzor Capital closes $621mn third Latin American fund

Chilean private equity group taps diverse investor base to close third fund

Linzor Capital Partners, a Santiago, Chile-based financial sponsor, has closed its third Latin American private equity fund at $621 million after launching its capital-raising effort for the limited partnership six months ago, according to the management company's statement.

While investors in the Linzor Capital Partners III LP (LCP III) fund were not identified by name, its general partners rounded up capital from a wide assortment of limited partners including pension funds, asset management firms, insurance companies, sovereign wealth funds, endowments and foundations. Commitments for the investment vehicle, which reached its hard cap and exceeded the fund's target on the firm's offering memorandum, came from limited partners in the U.S., Europe, Latin America and the Asia-Pacific region.

Officials from Linzor were not available for comment at press time.

Linzor, a nine year old firm whose investment activities are led by seven partners, typically invests $20 million to $85 million in mid-market buyouts of Latin America companies across 10 industry verticals with enterprise values ranging from $75 million to $400 million, according to its website. It targets businesses located in the countries of Argentina, Chile, Colombia, Mexico, and Peru.

The firm, which also has offices in Buenos Aires, Mexico City and Bogota, Colombia, closed its second fund at $465 million in 2011, or five years after securing $181.5 million for its first limited partners.

Monument Group served as the fund's placement agent, while Latham & Watkins LLP provided counsel to Linzor.