NewSpring Raises $364m in Fourth Mezzanine Fund

NewSpring, a family of private equity strategies, has closed its fourth mezzanine fund, NewSpring Mezzanine Capital IV. In total, the fund raised $364.3m. NewSpring Mezzanine provides a range of mezzanine debt and equity services.

NSM IV provides an option to invest in a small business investment company fund, NewSpring’s fifth SBIC license, and received support from existing and new investors, including a mixdd group of banks, insurers, public plans, financial institutions, and individuals.

“For investors, this Fund gives them the exciting opportunity to actively participate in the growth of lower-middle market businesses that are transforming our modern economy,” said Steve Hobman, NewSpring general partner. “We’re thrilled by their support, which enables us to build on the existing momentum of this strategy.”

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“As a result of the pandemic, many lower-middle market companies are seeking working capital that can help them weather economic downturns and fuel their next phase of growth,” said Andrew Panzo, NewSpring general partner. “Combined with our team’s operational expertise, the Fund is well-positioned to create positive outcomes for business owners and investors. Our deal flow pipeline remains strong, and we’re excited to continue this momentum.”

NewSpring Mezzanine recently added to its operational experience roster with the addition of Joe DeLuca, NewSpring operating partner and industry veteran with experience serving as a board member, CEO, CFO, and COO for several growing companies.

Source: The Middle Market

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