Centerfield Capital Partners, an Indianapolis, IN-based private equity firm specializing in mezzanine financing of privately held lower middle market companies to facilitate changes in ownership, closed its fourth mezzanine debt and equity investment fund, at $310m.
Limited partners include banks, insurers, public pension plans, fund of funds, family offices and individuals.
Centerfield Capital Partners IV, L.P., and side-by-side fund, CCP IVSBIC, L.P. (collectively, Centerfield IV), will invest a combination of mezzanine debt and equity in established, lower middle market companies generating $4 to $15 million of EBITDA.
Led by Scott Lutzke, Founding Partner, and Faraz Abbasi, Senior Partner, the firm 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.
The firm began investing Centerfield IV in April 2017 and has deployed $67m in six platform companies and one add-on acquisition.