Lincolnshire Management, a New York-based middle market buyout shop, has blown its target out of the water on fundraising for Lincolnshire Equity Fund IV LP. The firm has raised $835 million, according to a regulatory filing, which does not indicate the fund has closed. The initial target, according to a filing from May 2008, was just $600 million. However, Buyouts reported the target to be around $700 million during pre-marketing in March. UBS is the firm’s placement agent.
Lincolnshire Management’s previous fund closed in 2005 with $433 million in commitments. By doubling its fund size, the firm, led by T.J. Maloney, has hurtled itself into the realm of the upper-middle market. Recent exits from the firm, as reported in Buyouts, include the following:
Last fall, Lincolnshire Managment sold Excelsior Radio Networks Inc. to Triton Media Group LLC, a digital products and services supplier and a portfolio company of Oaktree Capital Management LP. The deal was reportedly valued at more than $100 million, and Lincolnshire remains a minority stakeholder in the company. Last summer, the firm sold port operator AMPORTS to AIG Highstar Capital, the infrastructure arm of AIG Global Investment Group, for $425 million.