Linsalata Capital Partners has raised $427 million in equity capital for its latest buyout fund, Linsalata Capital Partners Fund VI, L.P. (“LinCap VI”). The fund held its final close on June 20, 2012, exceeding its target of $425 million. With the closing of this latest fund Linsalata Capital Partners has raised more than $1.3 billion in equity capital across seven investment funds since its inception in 1984.
LinCap VI is funded primarily by institutional investors, a majority of whom have made commitments to previous Linsalata Capital Partners’ funds. “Aside from losing our commercial bank investors now precluded from investing by the Dodd-Frank provisions, we had 100% participation from our existing institutional limited partners and are pleased to have added a number of new top quality investors,” said Frank Linsalata, Chairman and Founder of Linsalata Capital Partners.
According to Eric Bacon, Co-President and Senior Managing Director at Linsalata, the latest fund will continue to leverage the 28 years of experience the firm has in partnering with management teams in acquiring mid-market private companies with enterprise values between $50 and $300 million. “With a similarly sized fund we will be able to utilize our middle market expertise in acquiring and growing companies,” said Mr. Bacon. “We are excited to build on the success we achieved in Fund V, expanding our investments into food & beverage, healthcare and aerospace & defense while continuing to build on our long history in consumer products, building products, apparel, and value-added distribution.”
“While the fundraising process in the current environment now takes more time and work, we are pleased to have completed Fund VI in just over a year without engaging a placement agent. Limited partners are increasingly discerning today and we are particularly pleased with the support from our existing partners and the top quality investors we added,” said Steve Perry, Co-President and Senior Managing Director.
Specific industry sectors of interest for LinCap VI include consumer products, building products, direct marketing/catalogs, business services, aftermarket products and services, food and beverage, niche apparel, health care services and medical devices, and value-added distribution.
Linsalata Capital Partners invests from $10 million to $50 million of equity in middle market companies in an array of industries that have $7 million to $50 million of EBITDA and at least $300 million in enterprise value. With the close of the new fund, Linsalata Capital Partners continues to expand and its staff, based in Mayfield Heights, OH, now numbers 14 investment professionals (www.linsalatacapital.com).
PEPD 8-7-12