Linsalata Capital Partners has held an additional close on its sixth buyout fund, bringing its total commitments to $413 million, sister magazine Buyouts reported earlier today, citing a senior executive familiar with the fundraising effort.
The Mayfield Heights, Ohio-based buyout shop is thus fast approaching its target of $425 million for the fund, Linsalata Capital Partners VI LP. Firm executives hope to wrap the fundraising effort early this year, though they have until mid-July to finish, the source said.
The firm raised an identical amount for its previous fund, Linsalata Capital Partners V LP, in 2005.
In August, Buyouts reported that most of the funds commitments were so far from groups that have invested in Linsalata Capital’s previous funds. Previous investors have included Massachusetts Mutual Life Insurance, the Ohio Police and Fire Pension Fund and Yale University, according to the Dow Jones Directory of Alternative Investment Programs.
Frank Linsalata, a former CFO of Midland-Ross Corp., the Cleveland-based industrial firm that was bought by Forstmann Little & Co. in 1986, founded Linsalata Capital in 1984. Since then, the firm has made more than 85 deals, typically cutting equity checks of $10 million to $50 million in companies generating EBITDA between $7 million and $50 million.