Los Angeles Fire and Police Pension System (LAFPP), a $23bn pension fund, has approved commitments of up to $40m to Lone Star Fund XI, according to a monthly report.
North America-focused fund held a first close in June 2020 and has made 20 investments
Paragon Partners will own a 55% in the newly formed entity following the carve-out
FPE acquired the assessment software in 2016 and has sold it to Battery Ventures' Learnosity
Company was reportedly marketed based on EBITDA of €16m