Centerfield closes fourth fund at $315m

The Indianapolis-based firm will swing for the fences in its latest mezzanine debt vehicle.

Centerfield Capital Partners hit a home run on its fourth flagship fund, holding a final close at $310 million.

Reaching its hard cap after beating an initial target of $225 million, Centerfield Capital Fund IV will continue the firm’s game plan of making equity and subordinated debt investments in lower middle-market businesses generating EBITDA of between $4 million and $15 million.

According to the Indianapolis-based firm’s press release, the firm will invest in ticket sizes of $7 million to $35 million. Since the fund’s first close in April 2017, Centerfield has deployed $67 million across six platform companies and one add-on acquisition.

The firm’s previous vehicle in the series raised $171 million in 2013.