L-Gam closes second fund on €772m

Launched in mid-2018 with a target in the €650-750m range, the fund held its final close in December last year, a person familiar with the situation confirmed to Unquote.

L-Gam II is considerably larger than its predecessor, which closed on €352m in 2014 and is now fully deployed, Unquote understands.

Although L-Gam has offices in London, both L-Gam funds are located and domiciled in Luxembourg. Moreover, the adviser to L-Gam Fund II is equally located and regulated in the Grand Duchy.

The GP is a long-term investment partner with 15-year closed-end funds and was established in 2013 in partnership with the Princely Family of Liechtenstein. 

Investors
LPs backing L-Gam II are European, Asian and North American institutional investors, family offices and high-net-worth individuals, a person close to the situation confirmed to Unquote. The Princely Family of Liechtenstein is a prominent LP of the vehicle. 

The vast majority of investors in Fund I have also committed to Fund II, Unquote has learned. 

Investments
L-Gam II will provide tickets in the €40-95m range to European SMEs based on the continent.

L-Gam has the flexibility to invest in debt and equity instruments, pursuing investment opportunities such as buyouts, family successions and buy-and-builds, as well as recapitalisations, debt restructurings, turnarounds and other complex situations.

Although primarily focused on controlling positions, L-Gam will also invest in minority stakes with appropriate governance structures.

People
L-Gam – Yves Alexandre, Ferdinando Grimaldi, Felipe Merry del Val (partners).

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