Two 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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