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Luminate wraps up third fund at $1bn

Luminate Capital Partners has closed its third fund at a hard cap of $1 billion, beating its $700 million target.

Luminate Capital Partners has closed its third fund at a hard cap of $1 billion, beating its $700 million target. Luminate Capital Partners Fund III’s limited partners include leading endowments, foundations, public and corporate pensions, ‎asset management firms and family offices. Moelis & Company LLC served as placement agent for the fund while Kirkland & Ellis LLP provided legal counsel. Luminate invests in growth software companies.

PRESS RELEASE

SAN FRANCISCO, June 1, 2021 – Luminate Capital Partners announced today the closing of Luminate Capital Partners III, LP with $1 billion of committed capital from a broad group of global institutional investors. The oversubscribed fund closed at its hard cap and above its $700 million target, bringing the firm’s total assets under management to $1.7 billion.

Since inception, Luminate has built a portfolio of 13 market-leading enterprise software companies, most recently adding Axonify, the leader in frontline employee training software. The firm has completed a number of exits and recapitalizations in the past year, including the recapitalization of Oversight Systems with TCV, the recapitalization of StarCompliance with Marlin Equity, the recapitalization of Conexiom with ICONIQ Capital, the sale of Comply365 to Liberty Hall Capital, and the sale of AMTdirect to MRI Software.

Luminate Founder and Managing Partner Hollie Haynes said, “As we have built Luminate over the past six years, we have focused solely on growth-oriented market leaders in enterprise software. We work with management teams to build scale and extend market leadership. We are excited to continue to execute on this strategy and are fortunate to have a strong and dynamic team of investment professionals and operating advisors who are integral to our success.”

Ms. Haynes further added, “I am particularly proud that we were able to exceed our fundraising target in a relatively short period of time, especially given the uncertainty caused by the pandemic. We thank our limited partners for this vote of confidence.”

Fund III includes a diversified investor base of leading endowments, foundations, public and corporate pensions, ‎asset management firms, and family offices. Moelis & Company LLC served as placement agent and Kirkland & Ellis LLP provided legal counsel for Luminate.

About Luminate Capital Partners
Luminate Capital Partners is a private equity firm investing in growth software companies. Luminate partners with management teams to drive strategy, growth, and operational improvements. Luminate’s portfolio of market leaders has included AMTdirect, AutoQuotes, Axonify, Comply365, Conexiom, Fintech, Oversight Systems, LiquidFrameworks, MSI, PDI, StarCompliance, Quantivate, and Thought Industries. For more information, including a full list of investments made by Luminate, please visit www.luminatecapital.com.