Centerfield Capital Partners has closed its fourth fourth mezzanine debt and equity investment fund at a hard cap of $310 million, beating its $225 million target. Centerfield IV’s limited partners include banks, insurers, public pension plans, fund of funds, family offices and individuals.
Indianapolis, IN, January 8, 2018 – Centerfield Capital Partners is pleased to announce the successful final close of its fourth mezzanine debt and equity investment fund, Centerfield Capital Partners IV, L.P., and side-by-side fund, CCP IVSBIC, L.P. (collectively, “Centerfield IV”). Centerfield IV exceeded its target of $225 million, reaching its hard cap of $310 million. Centerfield IV received strong support from existing and new investors, including a diverse group of banks, insurers, public pension plans, fund of funds, family offices and individuals.
“We are humbled by the strong reception of Centerfield IV in the market. Having $310 million of committed capital will allow us to continue to execute upon our strategic plan of building a leading institutional platform to serve growing small to middle market businesses for years to come,” stated Scott Lutzke, Centerfield Founding Partner. “We appreciate the support of our investors, and are also excited to welcome three new investment professionals to the team who will help us deploy Centerfield IV.”
Like its predecessor funds, Centerfield IV will invest a combination of mezzanine debt and equity in established, lower middle market companies generating $4 to $15 million of EBITDA. Centerfield invests in a variety of industries, and seeks companies with a history of profitability and growth, experienced management teams and strong market positions. With the new fund Centerfield will lead investments of $7 to $35 million in size. The firm will continue to consider sizeable equity investments alongside its mezzanine debt investments.
“Collaboration, teamwork, investment discipline and structural flexibility are at the core of our strategy at Centerfield and have served us well across many funds and varying economic cycles,” commented Faraz Abbasi, Centerfield Senior Partner. “We will continue to expand and solidify our relationships with private equity firms, independent sponsors and intermediaries who provide us a high-quality pipeline of investment opportunities.”
Centerfield began investing Centerfield IV in April 2017 and has deployed $67 million in six platform companies and one add-on acquisition. Since 2001 the firm has closed 56 platform investments and 42 related add-on acquisitions. For more information please visit: www.centerfieldcapital.com.