Marlin Equity closes two PE funds to back European and U.S. software businesses

Marlin Equity Partners LLC has raised $3.25 billion in capital commitments for two private equity funds. The firm’s flagship fund, Marlin Equity V L.P., closed with approximately $2.5 billion in commitments and its small cap fund, Marlin Heritage II L.P., raised $750 million.

Fund V will target middle-market businesses across North America and Europe, while Heritage II will target lower middle-market companies in North America. Both funds will seek to invest within the software, technology, healthcare IT, business services, and industrial technology. Fund V and Heritage II mark as the largest pool of capital raised by the firm since its inception in 2005. Kirkland & Ellis LLP served as legal adviser on both funds, while Credit Suisse Securities USA LLC (NYSE: CS) acted as financial adviser.

Marlin Equity is a Los Angeles-based investment firm with more than $6.7 billion of capital under management. The firm, with an additional office in London, has completed more than 100 acquisitions since its establishment. In November 2016, Marlin Equity completed the acquisition of Edgenet, a software-as-a-service company providing product data management, and later in December unveiled a new portfolio company called Elenion Technologies.

Private equity firms have been actively raising funds recently. Recent capital raises include: Platinum Equity LLC raising a fourth global buyout fund with $6.5 billion in capital commitments; Quad-C Management’s $1.1 billion private equity fund; the Carlyle Group’s (Nasdaq: CG) fourth distressed fund; Vector Capital’s fifth private equity fund; Monroe Capital LLC’s $800 million credit fund; and NXT Capital LLC’s fourth debt fund at $900 million.