Crosslake, a technology advisory firm serving private equity investors, has closed a single-asset continuation vehicle led by Leonard Green & Partners' Sage Fund. The transaction was initiated by existing sponsor Falfurrias Management Partners, which remains a significant investor. The deal provides liquidity to certain existing investors whilst enabling Crosslake's management team to continue executing growth initiatives. The transaction includes additional capital to support future acquisitions and platform investment. Terms were not disclosed. Founded in 2010, Crosslake combines practitioner expertise with proprietary data and tools to support private equity firms across the investment lifecycle. Under Falfurrias' ownership, the company expanded its advisory capabilities, with value creation practices now representing approximately half of its work. Barr Blanton will assume the role of Chairman and CEO.

Crosslake Technologies has acquired Lucen Partners, enhancing its product and software advisory capabilities for private equity-backed tech firms. Lucen co-founders Manoj Narayanan and Cynthia Williamson join Crosslake as managing directors. This acquisition, backed by Falfurrias Management Partners, marks Crosslake's fifth strategic growth investment since 2020, expanding its expertise in cybersecurity, AI, and product strategy. Financial terms were not disclosed.