NewSpring, a family of private equity strategies, announced the final closing of NewSpring Mezzanine Capital V (NSM V), out of the firm’s dedicated private credit strategy, NewSpring Mezzanine. In total, the fund was oversubscribed with total commitments of $390 million. NSM V received strong support from existing and new investors, including a diverse group of banks, insurers, public plans, financial institutions, and individuals.
Running as a U.S. Small Business Administration SBIC (Small Business Investment Company) NSM V builds on the firm’s long history within the SBIC program, which enables the fund to utilize additional funding to support lower-middle market businesses.
So far, NSM V has deployed about $273 million into 19 companies in the business and consumer services, niche manufacturing, distribution, and healthcare markets. And this rapid deployment in just under 18 months is attributed to the team’s deep industry knowledge, extensive networks, and consistent focus within the lower-middle market, enabling them to identify and act on high-potential opportunities efficiently.
NewSpring Mezzanine works with business owners, either independently or with other financial sponsors, to offer a wide range of flexible mezzanine debt and equity solutions and access to its deep operational resources. And the team – composed of investors and former operators with a relentless focus on value creation – includes two dedicated operating professionals with deep experience executing key growth initiatives at expanding businesses.
With this, NewSpring Mezzanine portfolio companies receive tailored strategic guidance and operational support for helping them navigate complex operating challenges and optimize opportunities that typically arise in lower-middle-market businesses to achieve their full potential.
KEY QUOTES:
“At NewSpring Mezzanine, we leverage our expertise to help business owners and CEOs optimize their capital structure, pursue strategic acquisitions, and make operational movements that are in line with their vision for the company. As demand for mezzanine debt and other flexible capital solutions continues to rise among lower-middle-market businesses, we look forward to partnering with more great companies while putting this Fund to work on behalf of our investors.”
– Anne Vazquez, NewSpring General Partner
“Our goal at NewSpring Mezzanine is to build great companies through strong partnerships. We pride ourselves on building close relationships with financial sponsors, intermediaries, and portfolio company management teams to form strategic alliances that produce lasting value for all stakeholders. We’re thrilled with the support of our investors as the number of attractive opportunities in the lower-middle market continues to rise and look forward to continuing to expand our portfolio.”
– Greg Barger, NewSpring General Partner
