Brookside Mezzanine Partners closed its latest mezzanine fund on $250 million last week, beating its $225 million target, according to a statement.
“We are very pleased with the strong support our existing investor base and new limited partners have shown Fund III,” said Brookside Mezzanine founder and co-manager David Buttolph in a statement. Limited partners in the fund include family offices, entrepreneurs and institutional investors, the firm said.
Fund III’s investment strategy is similar to that of Brookside Mezzanine’s previous vehicles. The fund will provide subordinated debt, unitranche and minority equity capital in support of leveraged buyouts, strategic acquisitions, recapitalizations and growth initiatives for companies operating in the US lower-to-mid-market.
Brookside specialises in the manufacturing, business services, restaurant/retail and healthcare sectors. The firm typically invests up to $20 million per transaction.
The firm has been extremely active in the early part of the year, having announced deals in support of Naylor, HCOA Fitness and Dimex.
Brookside was founded in 2001 and manages approximately $500 million through its mezzanine funds. The firm maintains offices in Stamford, Connecticut and Boston.