CVF Capital Partners has held a final closing of its latest mezzanine fund, The Central Valley Fund III (SBIC) LP, with $200 million of committed capital.
The new fund will provide junior capital (subordinated debt and preferred equity) of $3 million to $15 million to companies with at least $10 million in revenue and $2 million of cash flow. Sectors of interest include business and government services, industrial manufacturing, aerospace, telecom, healthcare, distribution and logistics, and food and beverage. CVF prefers to invest in companies headquartered in the Western US, with a particular focus on California and its Central Valley region.
“We appreciate this vote of confidence from our investors, many of whom have been with us since our founding,” said Brad Triebsch, Managing Partner and Co-founder of CVF Capital Partners. “We look forward to investing this capital in promising companies while continuing our consistent track record of strong investment returns for our limited partners and their constituents. We have a healthy pipeline of opportunities and will put this additional capital to work by continuing to partner with management teams, private equity sponsors, commercial banks, and other deal professionals.”
CVF Capital Partners has offices in Davis, CA (headquarters); Fresno, CA; San Diego, CA; and Portland, OR (www.centralvalleyfund.com).
“We have a successful track record as patient, long-term investors committed to working closely with sponsors and company management teams to create stable capital structures and optimal investment outcomes for all parties,” said Ed McNulty, a CVF Managing Partner. “We look forward to continuing this legacy throughout CVF III.”
CVF’s earlier fund closed in June 2012 with $100 million of total committed capital.
© 2018 Private Equity Professional | April 12, 2018