Buyout and mezzanine shops have obtained $61.48 billion as the year nears its close. Unless any major activity takes place in the last two weeks of the year, fund-raising in 2009 will amount to less than one-fourth of what buyout and mezzanine shops raised in 2008.
The latest tally benefited from the final close of Marlin Management Co. The El Segundo, Calif.-based firm held the final close of Marlin Equity III with $650 million in capital commitments. The firm launched the vehicle with a target of $450 million in September 2009
Marlin invests in various industries, including technology, business services, consumer products and manufacturing.
In addition, Linden has secured $260 million for Linden Capital Partners II, which has a goal of $300 million. The firm invests in the health care and life sciences sector. Park Hill is the placement agent and Kirkland & Ellis is serving as legal counsel.
Thomson Reuters (publisher of PE Week) tracked six LBO transactions from Dec. 8 through Dec. 15. Three of the deals disclosed financial terms and combined for $335.2 million. This helped push year-to-date deal volume higher to $30.89 billion.
In the largest deal of the week, health care-focused firm Welsh Carson Anderson & Stowe Co. bought Triad Laboratory Alliance, a unit of Apax Partners Worldwide. Welsh Carson paid $230 million to purchase the North Carolina-based provider of laboratory testing services in a leveraged buyout. Triad operates as Spectrum Laboratory Network.
Another deal with disclosed terms involved GenNx360 Capital Partners’ $18.8 million purchase of GVI Security Solutions Inc. —Eamon Beltran