LA-based Marlin Management Company, LLC, has announced the first and final closing of Marlin Equity II, LP, a USD 300 million institutional private equity fund established to seek significant capital appreciation through control investments in businesses undergoing varying degrees of operational, financial or market-driven change. Marlin targets special situations across a variety of industries, with a particular focus on technology, consumer, and healthcare businesses.
Investors include endowments and foundations, public and private sector pension funds, family offices, financial institutions and insurance companies. Fund II was three times oversubscribed to its original $250 million target and closed less than three months after its September 2007 launch.
“I am extremely grateful for the strong support we received from such a prominent group of returning and new institutional limited partners,” says David McGovern, managing partner of Marlin. “We are very excited about our team and strategy, and look forward to continuing to achieve above market returns for our investors.”
In addition to McGovern, the fund’s investment team includes Nicholas Kaiser, George Kase, Andres Martinez, P.J. Nachman and Peter Spasov. Marlin has also assembled a team of seasoned operating professionals, with established track records of value creation, who work exclusively with Marlin’s investment professionals throughout the investment process.
Probitas Partners acted as placement agent for the fund, and Bruce Ettelson and Karin Orsic of Kirkland & Ellis LLP served as legal counsel in the formation of the fund.