LongueVue Capital Raises $252M For Oversubscribed Third Fund

Mar 30 2017 | 4:26pm ET

New Orleans-based LongueVue Capital has raised $252 million in capital commitments for its third buyout fund.

The new fund, named LongueVue Capital Partners III, was oversubscribed and closed at its hard cap, the company said in a statement. Building on the track record of LongVue’s predecessor funds, LVC III will focus on private equity investments in lower middle market companies across a variety of industries. 

Historically, LVC has made successful investments in business services, transportation and logistics, healthcare, energy services, and niche manufacturing, the statement continued. 

“We are delighted to announce the closing of LVC III and are grateful for the confidence placed in us by both our returning and new limited partners,” said Rick Rees, managing partner of LongueVue Capital. “We are thrilled to have The University of Texas Investment Management Company and a number of other value-add limited partners as members of the LVC family.” 

“The lower middle market is an attractive sector for private equity investment, and we look forward to leveraging our strong track record and our value-oriented approach to identify exceptional opportunities to deploy capital,” he added. 

Founded in 2001, LongueVue Capital makes situation-driven, value-oriented equity and debt investments in lower middle market companies with up to $150 million in annual revenue. The firm supports buy-outs, recapitalizations, acquisitions and growth investments, and manages $425 million across two funds. 

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