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L Squared Capital Partners, a Newport Beach-based private equity investor for family offices, said it has sold its stake in Learners Edge to Quad-C Management Inc. Terms weren't disclosed.

The sale represents the fourth exit of L Squared Fund I, which was founded in 2014, and the firm’s third success story.

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L Squared in 2016 recapitalized Learners Edge, an Egan, Minn.-based company originally founded in 2002 to provide continuing education courses to teachers. By 2020, Learners Edge had completed two add-on acquisitions and its revenue climbed more than two and a half times, L Squared said.

“L Squared has been a great partner for us,” Learners Edge Chief Executive Jim Hall said in a statement. “Their valuable support and deep education experience helped us grow to serve more than 35,000 educators annually.”

L Square’s managing partner is Jeff Farrero and its principal is Adam Kimura.