Firms & Funds

Linden eyes $1 bln first close for Fund IV in January

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Cressey & Co, private equity
Downtown Chicago at sunset. Photo courtesy Spondylolithesis/E+/Getty Images
  • Firm: Linden Capital Partners
  • Fund: Linden Capital Partners IV
  • Target: $1.25 bln
  • Amount Raised: N/A
  • Placement Agent: Park Hill Group

Linden Capital Partners is heading for a first close in January on around $1 billion for its fourth fund, according to a person with knowledge of the firm.

The Chicago firm is targeting $1.25 billion for the pool. Fund IV has been in market since the fall. Park Hill Group is placement agent on the fundraising.

Linden is owned by Co-Founders and Managing Partners Anthony Davis and Brian Miller, according to the firm’s Form ADV. Davis and Miller did not return a request for comment.

The firm closed its third fund on its $750 million hard cap in 2015, Buyouts has reported. That fund was generating a 25.5 percent net internal rate of return as of June 30, 2017, Buyouts previously reported.

Its second fund closed on $373 million in 2010 and its debut on $200 million in 2006.

Earlier this year, Linden agreed to sell Young Innovations to Jordan Co. Terms weren’t disclosed. The firm is set to make 3.6x its investment on the sale, Buyouts previously reported. Linden invested in dental-products business Young Innovations in 2013 and will remain a minority investor.

Action Item: Check out Linden’s Form ADV here: http://bit.ly/2gDuo29

Chicago at sunset. Photo courtesy Spondylolithesis/E+/Getty Images