Centerfield Capital Partners has held a final closing of its fourth mezzanine debt and equity investment fund, Centerfield Capital Partners IV LP, and side fund, CCP IV SBIC LP, at the combined hard cap of $310 million and above the combined target of $225 million.
Investors in Centerfield IV include banks, insurers, public pension plans, fund-of-funds, family offices and individuals. Many of these investors were limited partners in earlier Centerfield funds.
“We are humbled by the strong reception of Centerfield IV in the market. Having $310 million of committed capital will allow us to continue to execute upon our strategic plan of building a leading institutional platform to serve growing small to middle market businesses for years to come,” said Scott Lutzke, Centerfield Founding Partner. “We appreciate the support of our investors, and are also excited to welcome three new investment professionals to the team who will help us deploy Centerfield IV.” Joining Centerfield in 2017 were Troy Clark, Director of Business Development, from Cisco Capital; Augie Pence, Senior Associate, from Prospect Partners; and Adam Shaffer, Analyst, from Sterling Partners.
Centerfield provides from $7 million to $35 million of subordinated debt and equity financing to middle-market companies that have $15 million to $100 million of revenue and $4 million to $15 million of EBITDA. The firm is based in Indianapolis (www.centerfieldcapital.com).
“Collaboration, teamwork, investment discipline and structural flexibility are at the core of our strategy at Centerfield and have served us well across many funds and varying economic cycles,” said Faraz Abbasi, Centerfield Senior Partner. “We will continue to expand and solidify our relationships with private equity firms, independent sponsors and intermediaries who provide us a high-quality pipeline of investment opportunities.”
Centerfield began investing Centerfield IV in April 2017 and has deployed $67 million in six platform companies and one add-on acquisition. Since 2001 the firm has closed 56 platform investments and 42 related add-on acquisitions.
© 2018 Private Equity Professional | January 8, 2018