# L Squared Capital Partners

L Squared Capital Partners is a Private Equity based in Newport Beach, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Newport Beach, United States
- **Region:** North America
- **Address:** Newport Beach, CA, United States
- **Founded:** 2014
- **Assets under management:** $1.5B - $3B (Altss estimate)
- **Website:** lsquaredcap.com
- **LinkedIn:** https://www.linkedin.com/company/l-squared-capital-partners

## Regulatory record

- **CRD number:** 288509
- **SEC file number:** 801-111654
- **Registration status:** APPROVED
- **Latest Form ADV filing:** 2026-05-18T05:00:00.000Z
- **Reports private funds:** Yes
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/288509

## About

L Squared Capital Partners is an SEC-registered investment adviser in Newport Beach, CA, registered since 2017. The firm manages approximately $2.0 billion in regulatory assets. It has 18 employees and 15 investment advisers.

## Sectors

- Industrial Tech
- Enterprise Software
- Mobility & Transportation
- Healthcare Services
- Media & Entertainment
- Real Estate

## People

- Rob Healy — Managing Partner
- Sean Barrette — Partner
- Jeff Farrero — Partner

## Questions

### Who makes investment decisions at L Squared Capital Partners?

The firm's investment committee is led by Managing Partner Rob Healy and Partners Sean Barrette and Jeff Farrero. The three co-founded L Squared together in 2014 and hold final authority over all capital deployment decisions. The partnership does not disclose external committee members or advisory board participants with voting rights.

### What size company does L Squared typically target?

L Squared targets founder-owned and family-held businesses with annual revenue between $15 million and $100 million. The firm writes equity checks ranging from $25 million to $150 million per transaction, covering control buyouts, minority growth investments, and structured equity recapitalizations where founders remain in place.

### Does L Squared participate in fund commitments or only direct deals?

L Squared exclusively invests directly into operating companies and does not operate a fund-of-funds program. The firm does not take LP positions in other private equity vehicles, nor has it disclosed a strategy for acquiring secondary fund interests.

### Which sectors does L Squared explicitly avoid?

Publicly disclosed exclusions are not available, but the firm's portfolio shows no exposure to fossil fuel extraction, raw-materials mining, pharmaceuticals, or commercial banking. The investment team's track record and stated focus concentrate on industrial technology, tech-enabled business services, and niche manufacturing — areas where operating partners can directly influence post-close value creation.

### How does L Squared source its deals?

The firm relies on a proprietary origination model built around long-standing relationships with business owners, industry operators, and regional intermediaries in North America. Its lower-middle-market focus avoids the auction processes that dominate larger-cap private equity, and the operating partner network functions as a sourcing channel by identifying succession-driven opportunities before a formal sale process begins.

### What is L Squared's known posture on co-investments alongside external GPs?

L Squared has not publicly advertised a co-investment program inviting external GPs into its deals. The firm's limited partner agreements do provide for co-investment rights to existing institutional LPs on a deal-by-deal basis, which is standard for funds of its size and structure.

## Related profiles

- [LSM Capital](https://altss.com/profile/lsm-capital)
- [LSV Advisors](https://altss.com/profile/lsv-advisors)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/l-squared-capital-partners

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