Comvest targets $350m for Fund III

Comvest provided $50m in term loans and credit facilities through its debt platform last summer. 

Comvest Partners has set a $350 million target for its latest debt fund, according to documents filed with the US Securities and Exchange Commission on Monday. The target exceeds the amount raised by its 2010 vintage debt fund, which closed on $250 million.

The filings list managing partners Peter Kight, Michael Falk and Robert Priddy as executive officers of the fund. Partner Robert O’Sullivan and chief financial officer Cecilio Rodriguez are also named as executive officers.

Comvest typically invests between $10 million to $25 million per transaction in companies generating $10 million to $200 million in revenue. The firm’s debt funds provide financing through senior and junior secured credit facilities, according to the firm’s website.

In August, Comvest provided a $20 million credit facility to Harley Davidson motorcycle leasing company Chrome Capital. Earlier that summer, the firm provided $30 million term loan to City Title Loan, a transaction that was secured with automobile titles.  

Comvest maintains offices in West Palm Beach, Florida and New York City. The firm manages more than $1.3 billion of assets.