Leeds Novamark Capital has held a close of its debut SBIC fund, Leeds Novamark Capital I, LP, with $130 million of capital including SBIC leverage. The firm is continuing to fundraise and expects to have a final close of the debut fund in 2014.
Leeds Novamark will invest directly and as a co-investor from $5 million to $25 million in support of buyouts, recapitalizations, refinancings, acquisitions, and growth financings in companies with at least $2 million of EBITDA. The firm invests across a range of industries. Leeds Novamark is headquartered in Tysons, VA (www.leedsnovamark.com).
Leeds Novamark was formed by a team of middle market private debt and equity professionals, in association with Leeds Equity Partners, to create a fund focused on lower middle market opportunities. The Managing Partners and co-founders of Leeds Novamark are Matt Kelty, Robert Monk, and Mark Raterman. These three individuals have worked together for over a decade and share more than 60 years of combined experience, investing over $1.3 billion in debt and equity. Leeds Equity Partners invests in the education, training and business services industries. The firm was founded in 1993 and is located in New York (www.leedsequity.com).
Prior to Leeds Novamark, Mr. Kelty was a Principal at Allied Capital Corporation, where he was involved in originating, evaluating, executing and monitoring mezzanine debt, secured debt and control investments across a range of industries. Before joining Allied Capital in 2004, Mr. Kelty spent three years at Blue Point Capital Partners focused on control equity investments in lower middle market companies. He began his career in the Fixed Income Division at Lehman Brothers. Mr. Kelty received his BA with a major in Chemistry from Williams College.
Prior to Leeds Novamark, Mr. Monk was a Managing Director and Investment Committee member of Allied Capital Corporation, where he was involved in originating, evaluating, executing and monitoring mezzanine debt, secured debt and control investments across a range of industries. He has served as a director or board representative on the boards of 30 lower middle market companies. He began his career at First Union National Bank in Charlotte, NC after earning his bachelor’s degree in Business Administration from the University of Georgia.
Prior to Leeds Novamark, Mr. Raterman was a Managing Director at Ares Management, where he was responsible for originating, evaluating and monitoring debt investments across a range of industries. He managed relationships with a multitude of financial sponsors and financial intermediaries and served as a director or observer on the Boards of Directors of his portfolio companies. Prior to joining Ares, Mr. Raterman was a Principal at Allied Capital Corporation beginning in 2002, where he executed numerous mezzanine debt, secured debt and control equity investments. Mr. Raterman graduated from the University of Virginia with a BA in Economics.
© 2013 PEPD • Private Equity’s Leading News Magazine • 10-2-13