The WSJ venture blog reports today on Claritas Capital's Specialty Debt Fund LP's targeted $100MM mezzanine fund raise, now underway, under Claritas Fund Managing Partner Burton Harvey (left). WSJ says Claritas aims to help companies in $2-10MM EBITDA range, a field largely abandoned by bank lenders, with debt deals ranging $3MM-$15MM. Claritas will charge 12-14% interest, plus 2 percent, and will often get warrants. Burton pointed out mezz debt is counter-cyclical. DJ VentureWire carried the story yesterday. Prior to joining Claritas earlier this year, Harvey was at Morgan Keegan, Finova Mezzanine Capital (formerly Sirrom), Bank of America and Wachovia.
Tuesday, October 13, 2009
Claritas Capital $100MM Mezz
The WSJ venture blog reports today on Claritas Capital's Specialty Debt Fund LP's targeted $100MM mezzanine fund raise, now underway, under Claritas Fund Managing Partner Burton Harvey (left). WSJ says Claritas aims to help companies in $2-10MM EBITDA range, a field largely abandoned by bank lenders, with debt deals ranging $3MM-$15MM. Claritas will charge 12-14% interest, plus 2 percent, and will often get warrants. Burton pointed out mezz debt is counter-cyclical. DJ VentureWire carried the story yesterday. Prior to joining Claritas earlier this year, Harvey was at Morgan Keegan, Finova Mezzanine Capital (formerly Sirrom), Bank of America and Wachovia.
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