Arrowhead Mezzanine has raised at least $118 million towards a reported target of $500 million, according to documents filed with the US Securities and Exchange Commission Friday. The $118 million includes a $3 million commitment from the general partner, according to the filing.
Arrowhead typically invests between $10 million and $100 million per deal. The firm specialises in the consumer products, value-added distribution, business services, healthcare, industrial manufacturing, packaging and chemical industries.
The filing lists managing directors Mary Gay, Phillip Krall, Craig Pisani and Paul Horton as executive directors of the fund. Placement agent Park Hill Group is listed as having received sales compensation.
Arrowhead spun out of Gleacher & Co. in 2010, according to reports. An SEC filing for Gleacher Mezzanine Fund II lists Gay and Krall as general partners. That fund had generated a 1.13x total value multiple as of 31 May, according to New Jersey Division of Investment documents.
The firm has partnered with several prominent mid-market private equity firms on deals, including Brockway Moran & Partners, Trilantic Capital Partners, Madison Dearborn, TA Associates and CCMP Capital Advisors.
Arrowhead did not respond to a request for comment.