Lower middle-market private equity firm BB&T Capital Partners has closed its second mezzanine fund with $227 million of capital, Private Equity Hub reports. The BB&T Capital Partners Mezzanine Fund II will put between $5 million and $20 million per transaction in subordinated debt and equity in privately held middle-market companies across the U.S.
The new mezzanine fund, which can invest in larger transactions than its predecessor fund, will continue to support both sponsored and non-sponsored buyouts, acquisitions and recapitalizations. Structured as a small business investment company, the vehicle will offer flexible junior capital and will target companies with at least $15 million in revenue and $4 million of cash flow.
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