Levine Leichtman Fund V raises $1.7 bln

“Institutional investors responded very favorably to our differentiated investment strategy and to our 30-year investment track record,” Lauren Leichtman, CEO of Levine Leichtman Capital Partners, said in a prepared statement. ”LLCP has generated consistent and attractive risk-adjusted returns across many economic cycles.”

The firm already has made two investments totaling $200 million out of the new fund, including the acquisition of Nobles Worldwide Inc, a leader in providing flexible ammunition chutes used for naval and ground military applications. Madison Capital Funding LLC provided senior debt financing for the deal.

Officers for Leichtman Capital Partners Fund V include Stephen Hogan, Steven Hartman, Lauren Leichtman and Arthur Levine, according to a Form D filing for the pool. Levine and Leichtman founded the firm in 1984.

LPs for Fund V include public and private pension funds, sovereign wealth funds, endowments and foundations, insurance companies, fund of funds and family offices. The closing took place about a year after Levine Leichtman filed its first Form D for Fund V on March 22, 2013, with $362 million raised.

Fund V surpassed the $1.1 billion the firm raised in its 2008 vintage Levine Leichtman Capital Partners IV LP

Besides Levine Leichtman Capital Partners V LP, Levine Leichtman is also investing from Levine Leichtman Capital Partners SBIC Fund LP and Levine Leichtman Capital Partners Private Capital Solutions LP. The firm’s prior investments include: Santa Cruz Nutritionals, CiCi’s Pizza, Hackney Ladish, Jon Douglas Real Estate Group and Luminator Technology Group.

Leichtman’s past resume includes 10 years as a full-time lawyer, including three years with the enforcement division of the U.S. Securities and Exchange Commission. She has been married to Levine since 1979.

Among LPs for Levine Leichtman Capital Partners Fund V, the Florida State Board of Administration committed $200 million, Dallas Police & Fire Pension System pledged $25 million and Arkansas Teacher Retirement System committed $20 million.