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Stonegate Capital Receives $50MM Equity Investment to Target Lower-Middle Market

November 29, 2017, 07:35 AM
Filed Under: Lender Finance

Virgo Investment Group announced a significant $50 million equity investment in and partnership with Stonegate Capital Holdings, LLC, a private specialty finance company.

Based in Chicago, Stonegate is focused on delivering sophisticated senior debt capital between $2-15 million to the lower middle market via three primary niches: software businesses, high-growth consumer products and food/beverage companies, and mature businesses seeking flexible capital above and beyond what a traditional lender can typically provide.

“This is a tremendous partnership for us,” said Darren Latimer, CEO and Co-Founder of Stonegate. “Virgo understands our vision and their investment will help us continue towards our goal of becoming the preeminent lender to both privately owned and sponsor-backed businesses.  We have assembled a team of industry veterans with extensive backgrounds at large corporate lending institutions, which highlights our ability to bring transactional and structuring sophistication downstream.   At a time when banks and traditional lending sources are exiting the lower middle-market, Stonegate can fill this void with adaptive and nimble debt solutions to establish ourselves as a stable source of liquidity for our borrowers.”

“We are excited to partner with Stonegate as we work together to build their lending platform,” said Virgo Founding Partner, Mack McNair.  “Darren’s relationship-based approach to originations and client partnership fits well with the Virgo philosophy.  We look forward to extending our experience in the Virgo Specialty Finance space to Stonegate by bringing management, technology, and capital to support the Stonegate team’s creative approach to the market.”  Virgo Partners Mack McNair and Chris MacDonald will be Co-Chairmen of the business. 


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