Firm: Endeavour Capital
Fund: Endeavour Structured Equity and Mezzanine Fund II LP
Placement Agent: Hycroft
The debt-related fund has drawn interest from Washington State Investment Board and Oregon Investment Council but has yet to nail down any official commitments from those two LPs, a source said.
The new fund comes five years after Endeavour Structured Equity and Mezzanine Fund I L.P. closed in 2009 with $116 million in commitments.
The Endeavour SEAM roster includes Iain Douglas and Steven Wilkins, managing directors and co-founders, along with Mark Nowak, managing director and Brian Hayden, director.
Endeavor SEAM focuses on mezzanine, acquisition financing, growth capital, traditional mezzanine debt, management and leveraged buyouts, recapitalizations, refinancings, debt and middle market investments. But it doesn’t target any real estate, project finance, startups or emerging technology companies.
Its core focus includes light manufacturing, distribution and service businesses in the Western U.S., with investments ranging between $5 million and $25 million in companies with EBITDA of $5 million to $25 million.
The fundraising effort for Endeavour Structured Equity and Mezzanine Fund II LP marks a new piece of business for recently-launched firm Hycroft, a specialist in alternative investments advisory work for clients around the globe.
Private equity veterans at the New York firm include Neil Banta, former managing director in the fund placement group at Greenhill & Co; Loren Boston, previously head of the private fundraising business at Citigroup, and later head of origination in the fund placement group at Merrill Lynch; Scott Myers, a founding partner and still part-owner of Cogent Partners, and Patrick Shattenkirk, a former managing director at Vestar Capital Partners and managing director at Cogent Partners.