New York City–based LCN Capital Partners has raised more than $1.35 billion for its third pair of sale-leaseback funds.
The fund pair consists of LCN North American Fund III and LCN European Fund III, which exceeded their targets of $500 million and €500 million ($604 million), closing at $635 million and €600 million ($725 million), respectively.
LCN said the vehicles were backed by global institutional investors such as pension funds, insurance companies and foundations, as well as multi-family offices and high-net-worth individuals located across three continents and nine countries. The funds added “re-up” capital from 100 percent of institutional partners in LCN Funds II.
“Our third pair of distinct sale-leaseback funds are LCN’s largest raised to date, having closed at their hard caps despite the disruption of COVID-19,” said Edward LaPuma, co-founder and managing partner of LCN. “We are humbled by the strong support of our original invest
