Marlin executive steps down from day-to-day operations

Jonah Sulak, a managing director with Marlin Equity, stepped back from day-to-day activity earlier this year, sources told Buyouts.

Sulak is now listed as a senior adviser on Marlin’s website.

Sulak worked at Marlin from 2007 to April, when he moved into an adviser role. Sulak’s LinkedIn said he worked on Marlin’s Heritage fund, which is the firm’s small-cap focus. He was a partner but more recently is listed as a managing director.

Sulak did not return a request for comment.

In 2017, Marlin closed its most recent Heritage fund on $750 million, along with its fifth flagship fund on $2.5 billion. Marlin founder and chief executive officer David McGovern is listed as the key executive on both Heritage funds.

Two other Marlin executives left the firm last year. Steve Johnson, former partner, and Jeff Carnes, former principal, formed Crest Rock Partners. The firm is raising its debut fund targeting around $400 million, sources previously told Buyouts.

Marlin managed about $5.8 billion as of Dec. 31, 2018, according to the firm’s Form ADV. The management company is principally owned by McGovern, an ex-Gores Technology Group executive who launched Marlin in 2005. 

Marlin sold a minority stake in the management company to Blackstone Group’ Strategic Capital team earlier this year. 

Action Item: Check out Marlin’s Form ADV here: