Levine Leichtman Capital Partners closed on $1.65 billion of capital commitments for its latest structured equity and credit fund, Levine Leichtman Capital Partners Fund V, exceeding its target of $1.5 billion, according to a news release.
The private equity firm's fifth fund has already made two investments totaling about $200 million. Fund V exceeds the firm's last fund, Levine Leichtman Capital Partners IV, which the firm closed in 2008 with $1.1 billion in total capital commitments.
Investors in the latest fund include the $15.5 billion Kentucky Retirement Systems, Frankfort; $12.1 billion Ohio School Employees Retirement System, Columbus and $4.5 billion Philadelphia Board of Pensions and Retirement.
Steven E. Hartman, principal, could not be reached by press time.
