Marlin Equity Partners Raises $3.25B For Two New Funds

Mar 22 2017 | 9:37pm ET

Global investment firm Marlin Equity Partners has raised a total of $3.25 billion in capital commitments for two new fund vehicles.

The larger of the two, Marlin Equity V, closed with $2.5 billion, while Marlin Heritage II closed with $750 million. Both funds were substantially oversubscribed, the company said in a statement, closing at their hard caps and surpassing their respective targets of $2 billion and $500 million less than five months after entering the market.

Fund V will target investments in middle market companies in North America and Europe, while Heritage II will target investments in lower middle market companies in North America. Consistent with their predecessors, the two new funds will seek to invest in businesses that can benefit from the firm's flexible capital base and strong industry knowledge within the software, technology, healthcare IT, business services and industrial technology sectors. 

The total marks the largest pool of capital raised by the firm since it was established in 2005. 

"The successful closings of Fund V and Heritage II allow us to further capitalize on the investment opportunities we are currently seeing in the middle and lower middle markets, and clearly reflect the strength of our differentiated approach to growing and transforming businesses through operational best practices," said David McGovern, managing partner of Marlin, in the statement. 

Kirkland & Ellis LLP served as legal counsel and Credit Suisse Securities (USA), LLC acted as an advisor and exclusive placement agent in the formation of Fund V and Heritage II, Marlin said. 

The twin closings continue Marlin’s momentum over the past 18 months and follow the recent closing of its €325 million European fund. Over the same period, Marlin has acquired 16 businesses, including seven corporate divestitures. Since inception in 2005, the company has closed eight private equity funds.

Headquartered in Los Angeles, Marlin Equity Partners is a global investment firm with over $6.7 billion of capital under management. Through its group of funds and related companies, the company has successfully completed over 100 acquisitions. 

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