Market wrap up: Linden on pace to reach $350M hard cap

Linden LLC has secured $208 million for its second investment vehicle, as it and other buyout and mezzanine firms have secured more than $6.63 billion in commitments so far this year.

The health-care and life sciences firm has a $300 million target for Linden Capital Partners II, but it expects to reach the hard cap of $350 million. Park Hill Group is assisting the Chicago-based firm with its latest fund-raising drive.

Linden’s debut fund closed in 2006 with $200 million in commitments.

Deal flow remains slow

Five leveraged buyout transactions closed during the past week, according to Thomson Reuters (publisher of PE Week), as Global Equity Capital took part in the only deal with known financial terms.

The Boulder, Colo.-based shop formed a special purpose vehicle called Global Iron Holdings to acquire Halifax Corp. a Virginia-based provider of enterprise maintenance services. The deal has a rank value of about $6.7 million.

Meanwhile, HIG Capital bought two companies in the past week, but neither disclosed financial terms. Albertville Quality Foods and Southern Quality Meats both provide meat processing services for restaurant, food service and retail customers. Albertville Quality focuses on chicken products, while Southern Quality processes pork sausage products.

Year-to-date deal volume inched up to $8.6 billion. —Eamon Beltran