Maranon sets $200m target for senior debt fund

Chicago-based Maranon is targeting $200m for its senior credit strategy, which typically invests $10m to $50m through first or second lien loans in mid-market companies. 

Maranon Capital has set a $200 million target for Maranon Senior Credit Fund II, according to a US Securities and Exchange Commission filing made by the firm last week.

Maranon incorporated or organised the fund this year, according to the filing, which also lists managing directors Tom Gregory, Ian Larkin, Rich Jander, Demian Kircher, Greg Long and Mike Parilla as executive officers of the vehicle.

The firm did not respond to a request for comment at press time.

Maranon provides debt financing to privately-held mid-market companies in North America. The Chicago-based firm invests between $10 million and $50 million in senior term debt through first or second lien loans, according to its website.

In addition to its senior debt business, Maranon can also provide mezzanine debt or equity co-investments. The firm closed its mezzanine fund on $207 million in 2010, according to reports.

The firm participates in acquisitions and growth financings, shareholder liquidity and recapitalisations, corporate divestitures and employee stock ownership plans. Maranon professionals have experience in the business services, consumer products and services, healthcare services, distribution and manufacturing sectors, according to its website.

Gregory and Larkin founded Maranon Capital in 2007. The firm has raised $557 million across two funds since its inception. In addition to its Chicago office, Maranon also has offices in South Bend, Indiana and Birmingham, Michigan.