Troutman Pepper advised NewSpring, a family of private equity strategies, in the final close of NewSpring Mezzanine Capital V (the Fund), out of NewSpring’s dedicated private credit strategy, NewSpring Mezzanine. In total, the Fund was oversubscribed, with total commitments of $390 million*. The Fund received strong support from existing and new investors, including a diverse group of banks, fund-of-funds, insurance companies, government entities, financial institutions, family offices and individuals. Read a company press release about the Fund closing.

Operating as a small business investment company (SBIC), NewSpring Mezzanine Capital V builds on NewSpring’s long history with the SBIC program, which allows the Fund to utilize SBA leverage to support lower-middle market businesses. To date, the Fund has deployed approximately $273 million into 19 companies in the business and consumer services, niche manufacturing, distribution, and healthcare markets. NewSpring Mezzanine partners with business owners, either independently or with other financial sponsors, to provide a wide range of flexible mezzanine debt and equity solutions as well as access to its deep operational resources.

The Troutman Pepper Team advising NewSpring was led by Christopher Rossi and Patrick Bianchi, and included Saba Ashraf, Jennifer Prushan, and Taylor Williams. 

*This includes capital committed to the Fund as well as confirmed and anticipated SBA leverage issued to the Fund for investments.