Reston, Virginia-based Leeds Novamark has closed over $236 million for its debut fund. The fund’s target was $225 million.
June 16, 2014 – Leeds Novamark Management, LLC (“LNC”), which specializes in providing flexible capital solutions to lower middle market companies, has held the final closing of its first fund. Leeds Novamark Capital I, L.P. (the “Fund”) raised over $236 million of capital, including Small Business Administration leverage, above its target of $225 million. “We sincerely appreciate the commitments we received from all of our Limited Partners, including both individual and institutional investors, regional and national banks, endowments and family offices,” commented Robert Monk, Founder and Managing Partner of LNC. “We are also grateful for the support we received and continue to receive from our affiliate, Leeds Equity Partners, an important strategic partner of our firm,” added Mr. Monk.
LNC is headquartered in Reston, VA. The fund’s Managing Partners – Robert Monk, Mark Raterman and Matt Kelty – have a successful track record investing in small businesses. The Managing Partners have invested approximately $1.3 billion in 40 transactions over the last twenty years and held board roles with all of their portfolio companies. Structured as a Small Business Investment Company (SBIC), LNC typically invests between $5 million and $20 million per transaction in the form of unitranche senior debt, subordinated debt, or equity and targets high-quality businesses with EBITDA of at least $2 million. LNC is a generalist firm but has significant investment experience in business services including insurance, information, software/SaaS, healthcare and corporate training. Other areas of interest include niche manufacturing, value added distribution and consumer products.
As of May 16, 2014, LNC has relocated to its new office at Plaza America Tower II, 11710 Plaza America Drive, Suite 160, Reston, VA 20190.