Kirkland & Ellis advised Longshore Capital Partners, a Chicago-based private equity manager, on the final closing of Longshore Capital Partners Fund II, which was oversubscribed and closed at its revised hard cap with $325 million in committed capital, comfortably surpassing its initial fundraising target of $275 million. Fund II is the successor fund to Longshore’s inaugural Fund I, which closed in 2020 with total commitments of $210 million. The new fund’s investor base is comprised of premier global institutions, including public pension plans, endowments and foundations, fund-of-funds, asset management firms, insurance companies, and family offices. A substantial portion of the fund’s commitments came from new institutional investors, demonstrating Longshore’s growing presence within the broader allocator community. The fund will focus on tech-enabled services opportunities with specific areas of interest including revenue cycle management, business process outsourcing, loyalty/incentives, and managed services.
The Kirkland team included investment funds lawyers Patrick Valenti, Dave Stults, Jeff Kaplan, Collin Maenhout and Brody Bushnell: and corporate lawyer Alex Knight.
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