LightBay Shines with $1B+ for Sophomore Fund
LightBay Capital, a Los Angeles-based middle market private equity firm, has closed its second fund – LightBay Investment Partners II LP – and its related vehicles with total capital commitments of $1.04 billion and exceeding its $800 million hard cap.
The fund will continue to pursue similar strategies to its predecessor fund, investing in the healthcare, consumer and B2B services industries. LightBay’s deploys an all-weather investment approach, which is a portfolio whose purpose is to perform well under different economic cycles.
“LightBay Fund II will leverage our team’s deep domain expertise and thematic approach to identifying, partnering with and accelerating the growth of market-leading companies,” says Nav Rahemtulla, LightBay Partner and co-founder.
LightBay has partnered with 11 companies and has completed more than 140 add-on acquisitions since its inception. LightBay has made two investments out of LightBay Fund II through the acquisitions of Clarion Home Services Group and Infinity Home Services.