Midwest Mezzanine Funds Completes First Close of Fund VII
Chicago, IL – Midwest Mezzanine Funds (“Midwest Mezzanine”) is pleased to announce the successful first close of its seventh fund, Midwest Mezzanine Fund VII SBIC, L.P. (“Fund VII SBIC”), at $240 million of investable capital. We are targeting $250 million of investable capital for Fund VII SBIC and anticipating a final closing later in 2024. Fund VII SBIC has been licensed by the U.S. Small Business Administration as a Small Business Investment Company (“SBIC”) and is the fourth SBIC formed and managed by Midwest Mezzanine. Fund VII SBIC’s limited partners include family offices; regional, national and international banks; insurance companies; large institutional investors; and high net worth individuals.
We will continue to invest subordinated debt, second lien term loans, last-out senior secured unitranche term loans, as well as non-control equity securities in mature companies located in the United States with EBITDA of at least $3 million. Midwest Mezzanine typically invests between $4 million and $15 million per investment and can lead or participate in investments greater than $15 million through co-investments from limited partners or other capital providers. During its 32 year history, Midwest Mezzanine has invested over $1 billion of junior capital in more than 140 portfolio companies.
Our Mission is to provide flexible capital solutions to help drive the success of Sponsor-backed portfolio companies. Our team of eleven takes great pride in the relationships we build, both inside and outside of the firm. Our three Managing Directors have, on average, 25+ years of lending and private equity experience and have worked together seamlessly for over 20 years.
As one of the oldest continually managed mezzanine firms in the United States, Midwest Mezzanine is a notable example of stability and experience. We believe that combination, coupled with shared values, diverse perspectives, and proven expertise lies at the heart of our success and enables us to provide the best capital solutions for the organizations with whom we partner.