Avante Mezzanine Partners, a lower middle market-focused mezzanine fund, has closed its first fund with $218 million in commitments. Based in Los Angeles, the fund is structured as a Small Business Investment Company. Avante says it will invest between $5 million and $20 million of subordinated debt and minority equity in companies across the U.S. that generate at least $3 million in cash flow.
Avante Mezzanine Partners, a women-owned lower middle market-focused mezzanine provider, has held a final closing of its first fund above its target with capital commitments of $218 million (including SBA leverage). “We are grateful for the strong support of our investors and their belief in our team and strategy. We have an impressive group of Limited Partners, including large institutional investors, regional and national banks and prominent family offices,” commented Jeri Harman, Founder and Partner of Avante Mezzanine Partners. “We are also pleased to welcome Nimes Capital Partners, the fund investment platform established by David Nazarian, as a strategic partner and investor in our fund,” added Ms. Harman.
Avante is headquartered in Los Angeles, CA, with an office in Boston, MA. The fund’s Partners – Jeri Harman, Steve Adamson and Natasha Fox – have over 70 years of successful equity and mezzanine investment experience, having led organizations at Allied Capital, American Capital and Celerity Partners. “We have a successful track record of investing in small businesses and partnering with management teams and sponsors to support growth. We are excited to continue to support the lower middle market with patient, long-term capital,” commented Steve Adamson, Founder and Partner of Avante Mezzanine Partners.
Structured as a Small Business Investment Company, Avante Mezzanine Partners’ first fund invests between $5 million and $20 million of subordinated debt and minority equity in companies across the U.S. that generate at least $3 million in cash flow. Avante works with private equity and independent sponsors in buyout transactions, as well with entrepreneurs and owners to finance recapitalizations, refinancings, acquisitions and growth. Avante is industry-agnostic, but has significant investment experience in business services, consumer products, aerospace & defense, software, health care, niche manufacturing and value added-distribution. Additionally, as a women-owned fund, one of Avante Mezzanine Partners’ areas of interest, although not exclusive focus, is providing capital to women- and minority-owned companies.
To date, the new fund has already completed two transactions, providing mezzanine debt to SunBriteTV and mezzanine debt and equity co-investment to Nobles Manufacturing. “We are excited about our investment in these companies and our partnership with Bunker Hill Capital, Inverness Graham and Fidus Capital. Our relationship-focused approach and competitive, flexible financing products make us a compelling partner to sponsors and entrepreneurs,” commented Natasha Fox, Avante’s Boston-based Partner.
Avante Mezzanine Partners can be reached at 310-667-9242. More information can be found at www.avantemezzanine.com.