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Chicago Growth Executives secure $350m for new fund

20 Aug 2014

chicagoTwo executives from Chicago Growth Partners have secured more than $350m to invest in rapidly growing companies.

Managing partner Rob Healy and principal Jeff Farrero have launched L Squared Capital Partners and have raised capital from ultra high net worth families, including Longview Asset Management, Bratenahl Capital and Virtu Holdings, said PeHUB, citing a person with knowledge of the plans.

L Squared is focused on longer-term business building with longer hold periods without pressure for early liquidity, said the source.

The firm is focused on fewer but bigger LPs with a closed LP-GP relationship.

L Squared invests in tech-enabled services, education and industrial technology businesses.

In May this year Chicago Growth cancelled its third fundraise.

Last year it was reported that the firm was looking to raise between $400m and $500m for the new fund.

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