Libra Takes On Caltius Name –

Los Angeles-based private equity firm Libra Management will be known as Caltius Capital Management, starting Wednesday. The firm, which manages both a buyout fund, Libra Capital Partners, and a mezzanine fund, Libra Mezzanine Partners, will rename those funds Caltius Private Equity Partners and Caltius Mezzanine Partners, respectively.

All other elements of the firm will remain the same, including the management, strategy, and objectives, said Bailey “Biff” Barnard.

The firm decided to change its name in part to avoid confusion between Libra Management and Libra Securities LLC, an investment bank lead by Jess Ravich and unrelated to the private equity firm. James Upchurch, president and chief executive of the soon-to-be named Caltius Capital also cited in a prepared statement the fact that this name would reflect the firm’s reputation and differentiate the firm in a crowded market place.

“The new name is the combination of three Latin words – Citius meaning swifter, reflecting our rapid response time; Altius meaning higher, reflecting the high professional standards we set for ourselves and our investment decisions; and Fortius meaning stronger, reflecting the strength of our relationships with our partners, referral sources and portfolio company management teams,” Upchurch said in the statement.

Last year, the firm closed Libra Mezzanine II-A, a $22 million fund, that will invest parallel to Libra Mezzanine II, which closed on $150 million in 2000. The firm also manages a $53 million buyout fund. The firm makes equity investments between $3 million and $8 million, and mezzanine investments between $5 million and $25 million.

A website for the firm (www.caltius.com) is expected to be launched on May 15 to coincide with the name-change.