CNL Strategic Capital Targeting Up to $1.1B in Second Follow-on Offering

Private investment management firm CNL Strategic Capital has announced that it launched a second follow-on offering seeking to raise up to $1.1B in capital.

The second follow-on offering, declared effective on November 1 by the SEC, will continue to build on buyout and growth objectives for its middle-market portfolio. The first follow-on public offering ran from November 1, 2021 – the day the initial public offering closed with $264.7M – to the same period this year, capturing approximately $704.8M, for a combined total of nearly $1B after the sale of common shares from both the initial offering and its follow-on.

The Orlando, FL-based firm, which is externally managed by CNL Strategic Capital Management and Levine Leichtman Strategic Capital, said that its platform has formed or acquired companies with assets valued at over $36B.

Source: https://www.globenewswire.com/en/news-release/2024/11/01/2973581/0/en/CNL-Strategic-Capital-Launches-Second-Follow-On-Offering-of-1-1-Billion.html