A Few More Details on New Mezz Shop Boathouse Capital
A week ago we reported on Boathouse Capital, a new mezzanine fund formed by alumni of American Capital (ACAS). We had very few details except the names of the professionals. Today I learned a little more information from a source. The Wayne, Penn.-based firm is in fundraising mode with a target of somewhere between $75 million and $225 million, based on its intended deal size. After forming last fall and launching fundraising last month, the fund already held a first close on between 65% and 75% of the target amount. Beyond raising capital, the firm hopes to receive SBIC approval to increase its leverage in the fall. Boathouse Capital seeks to invest up to $15 million in sponsor-backed and direct transactions.
27 July 2009•2 mins read
