Seattle, WA-based Lakeside Capital Management has held the final close of its second middle-market focused mezzanine capital investment fund, at $240m.
GMB Mezzanine Capital II, which has been licensed by the U.S. Small Business Administration (SBA) as a Small Business Investment Company (SBIC), exceeded its targeted size with diversified limited partners, including family offices, regional and national banks and large institutional investors.
Led by managing principals Mike McHugh and Cully Olmanson, the fund invests $3m to $18m in subordinated debt and non-control equity in lower middle-market companies with enterprise values under $100m. It assists private equity and independent sponsors in buyout transactions, their portfolio companies’ growth capital and acquisition needs, and recapitalizations, across a broad range of U. S.-based industries.
GMB Mezzanine Capital II has already invested $41.5m in seven portfolio companies.