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Private Equity

LLR Partners raises $1.2 billion for fifth buyout fund

LLR Partners announced the final closing of its latest buyout fund, LLR Equity Partners V, at $1.2 billion, according to a news release.

Through the fund, LLR Partners invests between $15 million and $100 million in companies with up to $100 million in annual revenue. It targets companies in education, fintech, health care, security and software.

The fund began investing in 2017 and has closed investments in eight companies: 3SI Security Systems, eLocal, Eye Health America, MedBridge, Midigator, Onapsis, PhishLabs and Professional Capital Services.

Its previous fund, LLR Equity Partners IV, closed at $950 million in March 2014.

Investors in LLR Equity Partners V include the $54.8 billion Pennsylvania Public School Employees' Retirement System and the $30 billion Pennsylvania State Employees' Retirement System, both based in Harrisburg.

LLR Partners spokeswoman Kristy DelMuto could not be immediately reached for comment.