Praesidian Capital, a provider of mezzanine debt for middle-market companies, announced today the close of its debut fund. The fund totals $156 million including both private capital and leverage from the United States Small Business Administration.
Investors in the fund include leading financial institutions such as certain funds managed by Banc of America Capital Access Funds, The Lincoln National Life Insurance Company, Citicorp Venture Capital, Citibank Community Development, JP Morgan Chase & Co., MBNA America and North Fork Bank, in addition to prominent family foundations and high net worth individual investors.
“My Partners and I have worked together in various institutions. Praesidian represents our desire to form a stand alone fund to provide capital to the small/middle market where we have invested for most of our careers,” said Jason D. Drattell, Managing Partner at Praesidian Capital. “The quality and diversity of our investor base provides a compelling endorsement of our investment approach, and reflects our historical track record of generating attractive returns on a risk-adjusted basis.”
The firm’s partners have a total of 90 years of investing experience in middle-market companies, with backgrounds in mezzanine, senior debt and private equity investing as well as operations, corporate finance and mergers and acquisitions. They include: Jason D. Drattell, Managing Partner, Edward L. “Ted” Koch, III, Managing Partner, Neil A. Marks, Managing Partner and John O. Utendahl, Partner. The firm has offices in both New York and Los Angeles.
Praesidian Capital is seeking investments in established, historically profitable middle-market companies with revenues between $25-250 million and operating cash flow between $5-25 million in the manufacturing, distribution and service sectors.
About Praesidian Capital
Praesidian Capital provides mezzanine debt for middle-market companies. The firm provides growth capital for established, historically profitable companies as well as for management/leveraged buyouts, recapitalizations and refinancings. Praesidian Capital’s executives have overseen successful exits for over 60 deals in the past 20 years and have been involved in all aspects of the deal life-cycle. For more information, visit www.praesidian.com
Media Contact: Dan Jacobs
Broadgate Consultants, LLC
Phone: 212 232 2227