A small business investment company (SBIC) fund was recently closed by the Patriot Capital Family of Funds. The fourth SBIC of Patriot Capital, Patriot Capital III, raised more than US$250 million in investable funds, exceeding the target by more than 20%.
The firm's Managing Partner, Charles McCusker, was happy with the result of the Patriot Capital III. "We are very pleased with the overwhelming support of our existing investors as well as the large number of new institutional investors who see the value in supporting a well-established fund manager in the middle market," he said.
Patriot Capital III was the latest SBIC fund of the firm, following Patriot Capital II, Patriot Capital and Allegiance Capital. As with its predecessors, Patriot Capital III would continue following the same strategy of being a debt and equity capital provider for high-performing middle market firms. This disciplined strategy has attracted strong support of institutional investors.
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