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Breakaway Capital Partners Closes on $100MM of Committed Capital for Second Fund

September 21, 2016, 07:19 AM
Filed Under: Industry News

Breakaway Capital Partners, a Los Angeles-based direct lending firm, announced the close of Breakaway Capital Partners Fund II, L.P. ("Fund II"), with total commitments at the hard cap of $100 million, all from family offices and individuals. The fund was significantly oversubscribed with an initial target of $75 million.

"We are very pleased to complete this fund raise," said Warren Woo, Managing Partner of Breakaway. "We are extremely gratified by the level of support we received from our existing investors, who increased their commitments by over 50%, and the overwhelming level of interest from new investors, which allowed us to secure commitments for our fundraising within 60 days."

"Our strong deal flow and the attractive companies we have successfully financed to date validates the investment thesis we had when we formed Breakaway Capital in 2014," added Mike Connolly, Founding Partner. "We are thrilled that Fund II will allow expand our ability to finance companies seeking creative and flexible debt solutions."   

Breakaway Capital is a middle market direct lender, focused on companies generating up to $10 million of EBITDA, and targets investments of $5 million to $20 million of debt capital in businesses with fundamentally attractive business models, steady cash flow, and superior management. Through a transparent, non-bureaucratic credit process, Breakaway provides creative debt financing solutions including senior debt, mezzanine debt, and unitranche structures to companies for leveraged buyouts, acquisitions, recapitalizations, restructurings and growth capital for both sponsored and non-sponsored transactions.

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