Linden Plans To Hit Hard Cap for Second Healthcare Fund

Healthcare-focused private equity firm Linden LLC is more than two-thirds of the way toward the $300 million target for its second fund, and expectats of hitting its $350 million hard cap.

Chicago-based Linden has so far gathered $208 million for Linden Capital Partners II LP, according to a source familiar with the situation. New York-based placement agency Park Hill Group is helping to raise the fund.

Linden invests in lower middle-market healthcare companies with revenue of between $25 million and $300 million. Fund II is earmarked for eight to ten platform investments, plus add-ons.

Deal sizes for the healthcare shop span the chasm from $10 million to $2 billion, while specific industry niches include animal health products, health care services, hospital products and life science equipment.

Backers of the firm’s $200 million freshman fund, Linden Capital Partners LP, which closed in 2006, are funds-of-funds managers like Parish Capital Advisors, plus a mix of endowments, foundations, insurance companies and family offices.

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