Patriot Capital has closed its fourth SBIC fund, Patriot Capital III SBIC, LP, with $250 million of capital commitments. The new fund received capital commitments from both existing and new institutional investors and it exceeded its capital raise target by over 20%.
“We are very pleased with the overwhelming support of our existing investors as well as the large number of new institutional investors who see the value in supporting a well-established fund manager in the middle market,” said Charles McCusker, Managing Partner of the firm.
Patriot Capital invests senior and subordinated debt and equity in small and medium-sized privately-held companies that having annual revenues of $10 million to $200 million. Investment sizes range from $3 million and $20 million. Since 1999, Patriot has invested in over 92 middle market transactions and now has over $550 million in assets under management. Patriot Capital has offices in Baltimore, Chicago and Dallas (www.patriot-capital.com).
“Patriot Capital has a very experienced team who have managed independent capital funds through multiple economic cycles and consistently proven the ability to execute on their investment strategy,” said John Fulton, Managing Director of Corrum Capital Management.
© 2013 PEPD • Private Equity’s Leading News Magazine • 7-10-13