Marlin Equity racks up $3.25 bln for two funds

Marlin Equity Partners has raised $3.25 billion for two oversubscribed funds: Marlin Equity V LP, which closed at a hard cap of $2.5 billion, beating its $2 billion target; and Marlin Heritage II, which closed at $750 million, sweeping past its $500 million target.

According to the firm, this was the largest pool of capital raised by the firm since its inception in 2005.

Marlin Equity V LP will focus on middle-market companies in North America and Europe while Heritage II will invest in the lower mid-market in North America.

Credit Suisse Securities (USA) LLC served as an adviser and placement agent for both funds. Bruce Ettelson, Karin Orsic and Katie St. Peters of Kirkland & Ellis LLP provided legal counsel.

In July 2013, Marlin closed $1.6 billion for its fourth private equity fund Marlin Equity IV. And in April 2014, Marlin raised $400 million for Marlin Heritage LP. No performance data was available on either fund.

Currently, the firm manages $6.7 billion in capital.

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