• The continuation fund was created to acquire interests in three portfolio companies, Blue Ridge Associates, Milton Industries and Resolution Economics, from LLCP’s lower mid-market fund.
• The fund will be used to provide additional time and additional capital to help each portfolio company realize its growth potential while providing a liquidity option to LMM II LPs.
• Based in Beverly Hills, LLCP invests in the middle market

Levine Leichtman Capital Associates raised $575 million for its multi-asset continuation fund.

LLCP LMM Acquisition Fund, LP was established to acquire interests in three portfolio companies – Blue Ridge Associates, Milton Industries and Resolution Economics – from LLCP Lower Middle Market Fund, LP.

Hamilton Lane was the lead investor and was backed by a syndicate of institutional investors.

Proceeds from the fund will be used to provide additional time and capital to help each portfolio company realize its growth potential while providing a liquidity option to LMM II LPs.

Commenting on the fund, Michael Weinberg, managing partner, and Andrew Schwartz, associate at LLCP, said in a statement: “We appreciate the support of Hamilton Lane and are excited to continue our partnership with the management teams at Blue Ridge Associates, Milton Industries. , and the economics of resolution.

Robert W. Baird & Co. served as financial advisor to LLCP and Kirkland & Ellis, LLP provided legal advice to LLCP for the transaction.

Based in Beverly Hills, LLCP invests in the middle market. Currently, the company manages $9 billion in assets.