Davis, CA (April 11, 2018) – CVF Capital Partners (“CVF”), the manager of the Central Valley Fund, today announced the final closing of its latest mezzanine fund, The Central Valley Fund III (SBIC), LP (“CVF III” or “the Fund”). The Fund has $200 million of total committed capital, which it will deploy as mezzanine debt and equity capital to the lower-middle market. CVF will invest across a broad range of sectors and geographies in the Western U.S., with a particular focus on California and the Central Valley. In an effort to better serve Southern California and the Pacific Northwest, CVF recently opened offices in San Diego, CA and Portland, OR.
CVF III’s size and scale allows it to focus on the under-served lower middle market, while its flexible structure enables CVF to continue its creative approach to solving a company’s particular capital needs. With its proven expertise in deal origination, credit selection, and deal structuring, CVF is consistently selected as a partner of choice by companies, banks, and private equity firms seeking capital for acquisitions and other important strategic initiatives.
CVF has been investing in California and throughout the Western U.S. since 2006, including financing several local California Central Valley acquisitions, expansions, and recapitalizations. The partners of CVF bring broad expertise to this market, having collectively deployed capital into middle market transactions over the last 35 years. Brad Triebsch, Managing Partner and Co-founder of CVF, said; “We appreciate this vote of confidence from our investors, many of whom have been with us since our founding. We look forward to investing this capital in promising companies, while continuing our consistent track record of strong investment returns for our limited partners and their constituents. We have a healthy pipeline of opportunities and will put this additional capital to work by continuing to partner with management teams, private equity sponsors, commercial banks, and other deal professionals.”
The Fund’s mission is to provide flexible junior capital (subordinated debt and preferred equity) to companies with at least $10 million in revenue and $2 million of cash flow. CVF III will build on the experience of its predecessor funds, investing in an array of industries, including: business and government services, industrial manufacturing, aerospace, telecom, healthcare, distribution and logistics, food and beverage, and others. CVF III’s new presence in San Diego and the return of Stefan Okhuysen as a Principal will further the Fund’s commitment to the Hispanic business community and cross-border opportunities.
Ed McNulty, a CVF Managing Partner, mentioned, “We have a successful track record as patient, long-term investors committed to working closely with sponsors and company management teams to create stable capital structures and optimal investment outcomes for all parties. We look forward to continuing this legacy throughout CVF III.”
About CVF Capital Partners and The Central Valley Fund
CVF Capital Partners and The Central Valley Fund (CVF) was established to finance later stage growth through mezzanine and preferred equity investments in lower-middle market businesses managing over $350 million in committed capital since 2005. The Fund has offices in California – Davis, Fresno, and San Diego and in Portland, OR. CVF is focused on making investments in California and throughout the Western U.S. For more information, please visit www.cvfcapitalpartners.com.
