US private equity firm LCN Partners has raised over $750 mln (€668 mln) for its second set of funds, comprising the euro-denominated LCN European Fund II, and the dollar-denominated LCN North American Fund II.
According to the firm, the fundraise provides LCN with over $2.5 bn in aggregate additional purchasing power to continue its strategy of corporate sale-leaseback and build-to-suit investments across North America and Europe. Participating institutional investors include both European and North American pension plans, insurance companies, foundations, and ultra high net worth family offices.
'We are pleased to announce the final close of our second set of parallel $- and €-denominated funds at levels exceeding our targets. We about doubled the capital raise achieved by our first two funds, each now fully invested and making their 8th quarterly distribution,' commented LCN co-founder Ed LaPuma.
To date, LCN has completed in excess of 250 sale-leaseback and build-to-suit investments worldwide exceeding $10 bn in cost, and currently has over $1.75 bn of property since launching its initial set of funds in 2013.
LCN is headquartered in New York, with offices in London and Luxembourg.
