Blue Owl, Lunate Take Minority Stake in Linden Capital Partners

The joint venture between asset manager Blue Owl‘s GP Strategic Capital platform and Abu Dhabi-based global alternative manager Lunate Capital has made a minority investment in Linden Capital Partners, a Chicago-based healthcare private equity firm.

Terms of the transaction were not disclosed, but it expands on a joint venture announced in February in which Blue Owl and Lunate intend to acquire minority holdings in private market managers with fee-paying assets of less than $10 billion.

Brian Miller and Tony Davis co-founded Linden in 2004. The firm has $8 billion in assets under management and has been in business since 2004.

Linden has invested in over 45 healthcare companies across more than 350 transactions since inception. Linden invests in middle-market platforms in healthcare services, medical products and specialty distribution.

“Our strategic partnership with Blue Owl GP Strategic Capital and Lunate, both of whom Linden considers to be industry leaders in global private capital markets, marks another important step in the continued development of our platform, at a time when we see enormous opportunity to deliver further long-term sustainable growth and value creation,” said Davis, co-founder and president.

Blue Owl’s GP Strategic Capital platform provides minority equity and financing solutions to private capital managers. The platform has $55.8 billion of assets under management and has completed over 85 equity and debt transactions since its inception in 2010.