Business
Crown Capital Partners Announces $50 Million Upsizing of Crown Capital Fund IV, LP
Crown Capital Partners Announces $50 Million Upsizing of Crown Capital Fund IV, LP ...
About this update from Crown Capital Partners, Inc.
[{"type":"text","content":"\n\n\n\nCrown Capital Partners Announces $50 Million Upsizing of Crown Capital Fund IV, LP\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, July 14, 2017\n\n\n\nCALGARY, July 14, 2017 /CNW/ - Crown Capital Partners Inc. (\"Crown\" or \"the Corporation\") (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced it has completed a $50 million closing for Crown Capital Fund IV, LP. (\"Crown IV LP\" or the \"Fund\"), bringing the current total capital committed to the Fund to $225 million. To date, $190 million has been invested by the Fund in nine transactions, and, net of repayments, $167 million is currently invested. \n\n\"This upsizing further underscores the quality of our growing portfolio and the strong demand from our institutional limited partners,\" said Chris Johnson, Crown's President & CEO. \"We continue to deliver on our key milestones. We have completed four transactions to date in 2017, adding $80 million of new investments in Crown IV LP. In addition, we continue to increase Crown's funding capacity, which we will use to capitalize on the demand for customized financing solutions in Canada's middle market.\" \n\nCrown IV LP invests in Special Situations Financing transactions originated and managed by Crown. These consist of senior and subordinated loans with terms ranging from six months to five years, and are structured to limit ownership dilution and provide the borrower client with the ability to focus on growing their business. Crown IV LP has a maximum size of $300 million, with additional closings expected up until September 2018 as financing opportunities are identified. Crown, through its wholly-owned subsidiary Crown Capital Funding Corporation, increased its capital commitment to the Fund by approximately $21.0 million to $82.2 million.  After this closing, Crown holds an approximate 36.5% interest in the Fund.\n\nABOUT CROWN\n\nCrown (TSX: CRWN) is a specialty finance company focused on providing capital to successful Canadian and select U.S. companies that are u...