LNK Partners, a private equity firm focused on investing in the consumer/retail sector, has held the final closing of LNK Partners II.
The fund, which was oversubscribed but capped at its USD400m target to allow the firm to continue to focus on investments in middle market consumer and retail businesses, received commitments from institutions and university endowments, as well as senior industry executives.
Investments of LNK’s first fund, which was raised in 2006, included the recapitalisation of Ariat International, a marketer of equestrian related footwear and apparel; the recapitalisation of Au Bon Pain, a fast casual restaurant chain; acquisition financing to support the purchase of Tommy Hilfiger by PVH; and the recapitalisation of Natural Food Holdings, which markets Niman Ranch, an all-natural brand of pork, beef and lamb.
David Landau (pictured), a partner of LNK, says: "With our new fund, we will continue to back great management teams who are building outstanding consumer and retail businesses. I think the very strong support from existing investors and the high level of interest from new investors reflects LNK’s unique position among private equity firms based on our partners’ exceptional investing and operating track records, the firm’s unparalleled network of industry relationships, and our highly flexible approach to investing."
LNK recently exited its investment in Ariat, selling the company to the Fisher family, a long-standing minority investor in the business.
LNK’s placement agent for the fundraising was Credit Suisse and its law firm was Paul, Weiss, Rifkin, Wharton & Garrison.
