– LongWater announced the final closing of its inaugural SBIC Fund, exceeding its target with total commitments and U.S. Small Business Administration (SBA) leverage of more than $262.5 million.
– The Fund is the first SBIC vehicle within LongWater’s Capital Solutions platform and focuses on direct private credit and non-control equity investments in lower middle market companies across the United States.
– The Fund partners with private equity sponsors and management teams to provide flexible capital solutions to U.S.-based businesses with strong fundamentals and growth potential that are underserved by traditional financing sources.
– The investor base includes publicly traded and privately held banks, family offices, insurance companies, institutional investors, and high-net-worth individuals.
– Approximately 40% of investors were first-time participants in the SBC program.
– Kevin Prunty, Senior Managing Director, described the closing as a significant milestone for the firm, its partners, and the lower middle market businesses it serves.
The Fund leadership team includes:
◻️ Kevin Prunty, Senior Managing Director
◻️ Trevor Gibson, Managing Director
◻️ Nick Careklas, Managing Director
◻️ Ben Dinehart, Managing Director
◻️ Sam Panke, Managing Director
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