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Lineage Capital
Lineage Capital is a private equity firm that partners with owner-managers who want substantial liquidity while retaining board control, even when Lineage owns...
Lineage Capital
Lineage Capital is a private equity firm that partners with owner-managers who want substantial liquidity while retaining board control, even when Lineage owns a majority economic stake. Its unique partnership model combines features of a sale and a minority investment and separates economic ownership from corporate governance. The firm works as active board members and partners to management teams to promote long-term growth, with an exclusive focus on owner-managed businesses.
General information
Firm type
Private Equity
Year founded
2003
Location
Region
North America
Country
United States
City
Boston
Corporate office
Boston, MA, United States
Principals
Brooks Zug
Co-Founder & Managing Partner
Michael G. Zinner
Co-Founder & Managing Partner
Sector focus
Frequently asked questions
Who runs investment decisions at Lineage Capital?
Co-Founders and Managing Partners Brooks Zug and Michael Zinner lead the investment committee. The firm maintains a flat partnership structure without a separate institutional investment board, keeping deal approval concentrated with the two named principals who built the strategy.
How does Lineage Capital source proprietary deal flow?
Lineage sources almost entirely through professional referral networks — estate-planning attorneys, sell-side accountants, trust-and-estate advisors, and commercial bankers who represent founders considering partial liquidity. The firm rarely participates in auction processes, relying instead on a position as the first call when an owner wants a partner rather than a pure sale.
Does Lineage Capital participate in fund commitments or only direct deals?
Lineage executes direct control and significant-minority recapitalizations. The firm writes equity checks directly into privately held companies. It does not operate as a fund-of-funds or allocate LP capital to third-party managers.
How is Lineage Capital related to other Zug-family investment entities?
Brooks Zug has a long history in private equity, having previously co-founded HarbourVest Partners in 1982 before leaving decades later to build Lineage around the partnership-recap model. Lineage operates independently of HarbourVest and other prior affiliations, with its own fund vehicles and LP base.
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