The Small Business Investor Alliance, an association for lower middle market private equity funds and investors, has named Monroe Capital Partners Fund LP and NewSpring Capital as a Small Business Investment Company of the Year for 2015. Chicago-based Monroe Capital was cited in the Big Fund category while Radnor, Pennsylvania-based NewSpring Capital was recognized in the Small Fund category. Both firms will be honored in a ceremony on May 8.
WASHINGTON, D.C. (May 6, 2015) – The Small Business Investor Alliance (SBIA), the leading association of lower middle market private equity funds and investors, commends Monroe Capital Partners Fund LP and NewSpring Capital for earning the recognition as a Small Business Investment Company (SBIC) of the Year for 2015. Monroe Capital of Chicago, Illinois, was named in the Big Fund category and NewSpring Capital of Radnor, Pennsylvania, was acknowledged as a Small Fund.
Monroe Capital is an active member of the SBIA with Managing Partner Tom Aronson serving as Business Development Company (BDC) Committee Chair. Founded in 2004, Monroe Capital focuses on providing much needed capital to lower middle market companies, as well as women and minority owned businesses, where access to capital has been a challenge. Currently, Monroe manages three SBICs. Monroe Capital Partners Fund LP, the fund recognized as SBIC of the Year, has invested in 33 companies since inception in 2011, supporting over 11,000 employees and $2.2 billion in revenues.
NewSpring Capital is a Founding Member of SBIA and General Partner Steve Hobman services as SBIC Committee Chair. Founded in 1999, NewSpring Capital manages four distinct investment strategies focused on leveraging operational expertise and capital to build market leading companies. A licensed SBIC, NewSpring Capital has managed three SBICs and has applied for its fourth SBIC license.
“We are proud to join in acknowledging the significant accomplishments of both Monroe Capital Partners and NewSpring Capital in advancing the mission of the SBIC program,” said Brett Palmer, President of SBIA. “Both companies embody the spirit of the program and have built portfolios filled with success stories of companies that have grown and prospered, employing thousands and contributing to the economic stability of their local communities. This recognition is well-deserved!”
SBICs have a long history of success helping small businesses access long-term, patient capital for growth. For over 50 years, SBICs have been providing capital for American small businesses and the jobs they create. The SBIC program, administered by the U.S. Small Business Administration (SBA), utilizes the talent of experienced private investment fund managers to achieve critical public policy objectives. Fund management teams that meet the SBA’s minimum requirements and successfully complete the application process are able to access leverage up to two times the private capital they raise. These funds then invest in a portfolio of U.S. small businesses, creating jobs, fostering innovation, and fueling economic growth.
A ceremony recognizing both SBIA members as SBIC of the Year will be held on May 8 as part of the nationwide celebration of the annual National Small Business Week from May 4-8. The theme of this year’s National Small Business Week is “Dream Big, Start Small.” Again this year, SBIA is a sponsor of National Small Business Week to help elevate awareness of the tremendous value small businesses play in every large and small community across America.
About the Small Business Investor Alliance (SBIA)
The Small Business Investor Alliance (SBIA) is the premier organization of lower middle market private equity funds and investors. SBIA works on behalf of its members as a tireless advocate for policies that promote competitive markets and robust domestic investment for growing small businesses. SBIA has been playing a pivotal role in promoting the growth and vitality of the private equity industry for over 50 years. For more information, visit www.SBIA.org or call (202) 628-5055.