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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