NewSpring, a Radnor, PA-based family of private equity strategies, raised $390M for its fifth mezzanine fund.
The fund received support from existing and new investors, including a diverse group of banks, insurers, public plans, financial institutions, and individuals.
Operating as a U.S. Small Business Administration SBIC (Small Business Investment Company) NSM V builds on the firm’s history within the SBIC program, which allows the fund to leverage additional funding to support lower-middle market businesses. To date, it has deployed approximately $273M into 19 companies in the business and consumer services, niche manufacturing, distribution, and healthcare markets. This rapid deployment in under 18 months is attributed to the team’s industry knowledge, extensive networks, and focus within the lower-middle market, which enables them to identify and act on opportunities efficiently.
NewSpring Mezzanine partners with business owners, either independently or with other financial sponsors, to provide a wide range of flexible mezzanine debt and equity solutions as well as access to its deep operational resources. The team includes two dedicated operating professionals with deep experience executing key growth initiatives at expanding businesses. With this, its portfolio companies receive strategic guidance and operational support to help them navigate complex operating challenges and optimize opportunities that typically arise in lower-middle-market businesses to achieve their full potential.
FinSMEs
23/07/2024