Firm: Hancock Capital Management
Fund: Hancock Capital Partners V LP
Amount Raised: $107.5 million
Placement Agent: John Hancock Distributors LLC
Hancock Capital Management is out fundraising for its latest mezzanine fund, sister Web site peHub reported, citing an SEC filing.
Hancock Capital has collected $107.5 million from 10 investors for the new vehicle, Hancock Capital Partners V LP, the regulatory filing dated Aug. 31 said. Hancock did not disclose how much it was looking to collect in total.
With offices in Boston and New York, Hancock Capital is the investment arm of John Hancock Life Insurance Co. The firm’s prior fund raised $449 million in September 2007. That pool had a $500 million target, according to a November 2007 story from Buyouts.
Bloomberg News reported that Hancock, with its fifth fund, is looking to raise $550 million. Half, or $275 million, will come from outside investors, the story said. John Hancock has committed to provide the rest, the story said.
Hancock is charging a 1.5 percent management fee on committed capital during the investment period and 1.25 percent afterward, Bloomberg said. The GP will take 20 percent carried interest after the fund hits an 8 percent preferred return, Bloomberg said.
Hancock typically invests from $10 million to $50 million per deal. Prior investors include CMS Fund Advisors, John Hancock Mutual Life Insurance Co. and St. Paul Travelers Cos., Buyouts said.
John Hancock Distributors LLC is acting as placement agent for the new fund, the filing said.
Hancock Capital did not return calls for comment.
(Luisa Beltran is a senior writer for peHub.)