LLR Partners: $2.45B Tech & Healthcare Fund Close
- LLR Partners, a private equity firm based in Philadelphia, announced the closing of its seventh fund, LLR Equity Partners VII, L.P.
- LLR 7 saw significant investment from its own partners and employees, alongside a diverse group of global investors.
- Several public pension systems are backing LLR's private equity role.
LLR Partners has closed it’s latest fund, LLR Equity Partners VII, L.P., securing a significant $2.45 billion to fuel investments in technology and healthcare companies. The fund, exceeding its predecessor, will focus on supporting growth initiatives and buyouts within the lower middle market. Significant investment came from LLR’s own partners along with global investors. Key investors include Pennsylvania and Texas retirement systems. With a team of over 100 professionals,LLR plans to deploy capital ranging from $25 million to $100 million per investment. News Directory 3 reports on the strategic expansion of the firm’s commitment to these essential sectors. Discover what’s next for LLR’s investments and the innovative companies they will empower.
LLR Partners Closes $2.45B Tech, Healthcare Fund
LLR Partners, a private equity firm based in Philadelphia, announced the closing of its seventh fund, LLR Equity Partners VII, L.P. (LLR 7), with $2.45 billion in commitments. This new fund exceeds its predecessor, LLR 6, which closed in October 2020 at $1.8 billion.
LLR 7 saw significant investment from its own partners and employees, alongside a diverse group of global investors. The fund will continue LLR’s established strategy of investing in technology and healthcare companies.
Several public pension systems are backing LLR’s private equity role. The Pennsylvania State Employees’ Retirement System committed $75 million. The Employees Retirement System of Texas invested $50 million, and the Plymouth County Retirement Association contributed $10 million.
With a team of over 100 professionals, including a value creation unit and senior advisors, LLR 7 plans to deploy between $25 million and $100 million in both minority and majority equity investments. These investments will support growth initiatives, recapitalizations, and buyouts.
The firm began deploying capital from the fund last year. A $40 million minority equity investment went to Suvoda, a SaaS provider of clinical trial software. Other transactions include KEEPS, Nonstop Health, Soltis Investment Advisors, and TurboTenant.
since its founding in 1999, LLR has raised more than $7 billion in capital. Asante Capital Group acted as the placement agent for the fund, while Latham & Watkins provided legal counsel.
What’s next
LLR Partners will continue to seek investment opportunities in the technology and healthcare sectors, leveraging its new fund to support growth and innovation in lower middle market companies.