Charter Growth Capital Finalizes $111M Fund II with SBIC Backing
Deal News | Mar 10, 2025 | Charter Investment Group Ltd/T
Charter Growth Capital, a private investment firm, has received an SBIC license, enhancing its ability to provide junior capital to lower-middle-market companies in the Great Lakes Region. The firm's Fund II has closed at $111 million, exceeding its initial $100 million target. The SBIC designation allows the firm to access SBA-guaranteed financing to continue its disciplined investment approach, providing a mix of debt and equity. Fund II already includes two investments with a pipeline of opportunities. The license reflects the firm's commitment to supporting independent sponsors and management teams.
Sectors
- Private Equity
- Finance
Geography
- United States – Charter Growth Capital operates primarily in the Great Lakes Region and has secured a U.S. Small Business Administration SBIC license.
- Michigan – Charter Growth Capital Fund II is noted as the only active SBIC in Michigan, highlighting the regional focus.
Industry
- Private Equity – The article discusses Charter Growth Capital's activities in securing funds and investing capital, which is central to the private equity industry.
- Finance – The mention of capital, investment funds, and the SBA guarantee aligns the article with the broader financial services sector.
Financials
- $111 million – The total capital closed for Charter Growth Capital's Fund II.
- $100 million – The initial target amount for Charter Growth Capital's Fund II.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Charter Growth Capital | PE Firm | Company | A private investment firm focused on providing junior capital to lower-middle-market companies, primarily in the Great Lakes Region. |
| U.S. Small Business Administration | Licensing Authority | Government | The U.S. federal agency providing the SBIC license to Charter Growth Capital. |
| John Kerschen | Partner | Person | A partner at Charter Growth Capital, involved in securing the SBIC license and Fund II closure. |
| Mike Palm | Partner | Person | Partner at Charter Growth Capital, noted for commenting on the significance of receiving the SBIC license. |
| Hector Bultynck | Partner | Person | Partner at Charter Growth Capital, focusing on engaging with independent sponsors and management teams. |