About This Fund
Linzor Capital Partners II, L.P. (LCP II) is the second private equity fund raised by Linzor Capital Partners, a pan-regional middle-market buyout firm headquartered in Santiago, Chile, with offices in Mexico City, Bogota and Buenos Aires. Founded in 2006 by Tim Purcell, Alfredo Irigoin and Carlos Ingham — all veterans of J.P. Morgan's Latin American direct investment franchise, which they had managed since 1996 — Linzor closed LCP II on July 8, 2011, raising USD 465 million in equity capital commitments, exceeding the original USD 350 million target. The fund attracted commitments from Latin American and international pension plans, endowments, foundations, financial institutions and family offices, with 100% of Fund I limited partners re-investing, including confirmed institutional investor HarbourVest Partners. J.P. Morgan Private Equity Fund Services served as fund administrator and Deloitte and Touche LLP as auditor. The GP entity Tacora Management Company II Ltd. (SEC CRD 162736) is the registered investment adviser. The fund held 61 limited partners as of the final filing with the SEC.
LCP II pursues a control-oriented middle-market buyout strategy targeting companies valued at USD 75-400 million across Latin America, with a primary focus on Chile, Mexico, Colombia, Peru and Argentina — explicitly excluding Brazil to maintain focus in Spanish-speaking markets. The fund applies conservative capital structures, deep operational involvement and active value creation programs tied to ESG and sustainability. Sector coverage spans financial services, retail, food, oil and gas services and consumer finance, with ticket sizes typically ranging from USD 20-50 million per platform investment. Linzor's approach targets essential services and businesses with strong demographic tailwinds in sectors often underserved by larger regional managers.
LCP II deployed across nine investments. Notable realisations include Devlyn, Mexico's largest eyewear retail chain with over 1,220 points of sale at exit in 2018; Grupo EFE, Peru's leading home appliance retailer and consumer finance platform with over 20% market share, which was exited in January 2025 following a decade-long hold that digitalised the business and expanded its financing arm; Komax, a multi-country apparel and footwear retailer in Chile and Peru; and Onest, a payroll-lending and taxi-financing platform in Colombia. The fund also co-invested in Engen alongside LCP III, Mexico's leading independent equipment leasing and lending platform. The strong track record of LCP II provided the foundation for the subsequent USD 621 million third fund, Linzor Capital Partners III.