Linx Partners, LLC (“Linx” or “the Adviser”) was formed as a Delaware limited liability
company in 1999. Linx creates and manages pooled investment vehicles including one
private equity fund and seven co-investment funds. The Linx private equity fund is Linx
Partners III, L.P. (the “Partnership”). Its co-investment funds include Linx-RE Co-Invest,
LLC, Linx-Transpro Co-Invest, LLC, Linx-CPT Co-Invest, LLC, Linx-NEBR Co-Invest,
LL, Linx-Elite Co-Invest, LLC, Linx-CTAM Co-Invest, LLC, and Linx-TGS Co-Invest,
LLC (collectively, the “Co-Invests”). Effective January 1, 2020, the sole member of Linx
is Barbara M. Henagan (the “Member”).
Linx Partners III, LLC was formed as a Delaware limited liability company in 2013. Its
members include Barbara M. Henagan, Peter J. Hicks, Giny E. Mullins and Mark R.
Niznik. Ms. Henagan and Mr. Hicks each have a 41.7% interest, and Ms. Mullins and Mr.
Niznik each have a 8.3% interest. Linx Partners III, LLC is the general partner of Linx
Partners III, L.P. (“Linx Fund III”).
L-Four, LLC (“L-Four”) was formed in 2021 as a Delaware limited liability company and
is a related advisor to Linx. Its members include Barbara M. Henagan and Giny E. Mullins.
L-Four, LLC is the Manager of a separate pooled investment vehicle – L4-CR Co-Invest,
LLC (“L4 Co-Invest”.) L4- GP, LLC (“L4-GP”) is the general partner of L4 Co-Invest and
was formed as a Delaware limited liability company in 2021. Its members include Barbara
M. Henagan, Giny E. Mullins along with current or former employees of Linx.
The Partnership, Co-Invests and L4 Co-Invest will henceforth be collectively referred to
as the “Funds”.
Types of Advisory Services
Linx provides investment management and advisory services to the Funds, which may
include formation of the Funds, due diligence of potential investments, portfolio
management and sales of portfolio companies, among other activities. Investment
objectives and strategies of the Funds are typically set forth in documents, including but
not limited to, the private placement memorandum and partnership agreements or limited
liability company operating agreements (collectively the “Governing Fund Documents” or
“Fund Documents”).
The Partnership is a pooled investment vehicle formed for the purpose of achieving capital
appreciation primarily through making investments in equity securities issued by lower
middle-market companies in the United States as further described in the Partnerships
Governing Fund Documents. Linx Partners III, LLC acts as general partner to the
Partnership and also provide a specified percentage of the capital for the formation of such
Partnership.
The Co-Invests are pooled investment vehicles formed solely for the purpose of investing
in and managing securities of a specific company, and only that company, and are created
from funds sourced majority from the Partnership, employees of Linx as well as other
entities/individuals as deemed necessary by the Manager. Linx Fund III owns a majority
interest in each Co-Invest. Linx acts as manager to the Co-Invests.
Linx’s advisory services consist of acting as general partner or manager to multiple pooled
investment vehicles (collectively, the “Funds”) which have been created to invest in lower
middle-market companies in the United States. Where Linx is the investment adviser to a
Fund, the Fund—not any individual limited partner or member—is Linx’s client. As such,
the investment objectives and guidelines of each Partnership are not specifically tailored
to the individual needs of the investors in the Partnership.
L4 Co-Invest is a pooled investment vehicle formed solely for the purpose of investing in
and managing securities of a specific company, and only that company, and is created from
funds sourced majority from other entities, family offices, individuals and employees of
Linx as well as other entities/individuals as deemed necessary by its Manager.
Wrap Fee Programs
Linx does not participate in wrap fee programs.
Assets Under Management
Linx Partners had $83.3 million in discretionary assets including uncalled capital
commitments of the Partnership and $25.0 million in non-discretionary assets (from the
Co-Invest) under management as of December 31, 2023. Please see Linx’s Form ADV
Part 1A – Item 5.F for more information.