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NEWSPRING CAPITAL ANNOUNCES THE FINAL CLOSING OF NEWSPRING MEZZANINE CAPITAL, L.P.
King of Prussia, PA – February 8, 2006 – NewSpring Capital, a family of specific purpose private equity funds focused on the Mid-Atlantic region, announced today the final closing of NewSpring Mezzanine Capital, L.P. with total commitments of approximately $90 million.
“We are very pleased with the amount of capital raised and with the support we received from our limited partners. NewSpring Mezzanine Capital is now well positioned to take advantage of the shortage of mezzanine capital focused on the sub-$10 million transaction size in the Mid-Atlantic Region,” commented Steve Hobman. “NewSpring Mezzanine Capital has been well received in the market and our deal flow pipeline is strong and thriving,” added Andrew Panzo.
NewSpring Mezzanine Capital is the third fund launched by NewSpring Capital, joining sister funds: NewSpring Ventures, a venture capital fund providing equity capital to growth and expansion stage companies with a focus on information technology, business services and enabling technologies; and NewSpring Healthcare, a healthcare venture fund focused on biopharmaceuticals, medical devices, and healthcare services companies. NewSpring Capital now manages more than $250 million of private equity capital.
NewSpring Mezzanine Capital is led by General Partners Steven D. Hobman and Andrew P. Panzo. NewSpring Mezzanine Capital is a mezzanine private equity fund focused on late-stage and buy-out opportunities in information technology, healthcare, business services and specialty manufacturing. The Fund focuses on investment opportunities in the Mid-Atlantic region, and either leads or co-invests with syndicates in both equity-sponsored and non-sponsored deals. The Fund’s investment target size is $2-5 million per transaction, and NewSpring Mezzanine Capital has made investments in five portfolio companies to date.
ABOUT NEWSPRING MEZZANINE CAPITAL
NewSpring Mezzanine Capital is a regionally focused mezzanine debt fund that invests in information technology, business services, healthcare and specialty manufacturing and is part of the NewSpring Capital family of funds. NewSpring Capital, based in King of Prussia, PA, is a family of specific purpose private equity funds, which, in addition to NewSpring Mezzanine Capital, includes NewSpring Ventures, a venture capital fund providing equity capital to growth and expansion stage companies with a focus on information technology, business services and enabling technologies; and NewSpring Healthcare, a venture capital fund focused on intermediate- and late-stage life sciences and healthcare companies. For additional information, please visit www.newspringcapital.com
