LLR Closes Fourth PE Fund With $950M

Mar 6 2014 | 9:17am ET

Philadelphia and Arlington, VA-based private equity firm LLR Partners has staged the final closing of its LLR Equity Partners IV fund at $950 million.

LLR invests in and partners with middle-market growth companies. Since it began investing in 2013, LLR 4 has closed investments in five companies: ACRE, Cigital, iJET, Logi Analytics and Ultisat. The fund invests in a broad range of industries, including business services; consumer and education; financial services; security, defense and government services; healthcare services; and software and IT services.

“Since launching our first fund in 1999, LLR has brought a collaborative approach to working with middle market companies that have an opportunity to become leaders in their industry niches,” said LLR’s Mitchell Hollin in a statement.

LLR provides capital and guidance to growth companies led by “driven, entrepreneurial owners.” The firm employs 40 investment professionals and eight operating partners and  invests between $15 million and $100 million in companies with up to $150 million in annual revenue.

LLR will invest in minority or majority ownership positions in a variety of transactions including growth capital, recapitalizations and buyouts.  “We are looking for companies with a proven business model, a good management team, and that seek a partner to rapidly grow the business,” said Hollin.

Long-time LLR employees Todd Morrissey and David Stienes were promoted to partner in LLR 4, joining the existing senior team of Hollin, Seth Lehr, Ira Lubert, Scott Perricelli, David Reuter and Howard Ross.

Founded in 1999, LLR has raised more than $2.3 billion across four funds.

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