Los Angeles, California (August 2022) – Avante Capital Partners, a women-owned private credit and structured equity firm, is pleased to announce it has completed the final closing of Avante Capital Partners SBIC III, LP and Avante Capital Partners SBIC III-A, LP (collectively “Fund III”). Fund III was oversubscribed by 50% and closed with a total of $450 million of capital commitments, including leverage from the Small Business Administration. Fund III received strong commitments from new and existing investors including pension funds, insurance companies, endowments, family offices, banks and other institutional investors.
Over the past 13 years since its founding, Avante has leveraged its unique origination network and rigorous investment process to generate strong returns for its investors. At the same time, Avante’s focus on diversity has helped drive meaningful change across the industry. Avante’s entire team believes that diversity is not just a value but a mission-driven focus that drives lasting competitive advantage and top-tier returns. Avante has championed diversity initiatives throughout private equity, partnering with federal agencies and advocacy groups, providing a pipeline of diverse talent for management teams and boards, supporting women and people of color across the industry and launching a trailblazing internship program while continually expanding its own diverse team.
Avante will pursue the same investment strategy and diversity mission for Fund III as it did for its prior two, top-tier funds – providing total debt solutions and junior capital to high quality, lower middle market businesses with $3 million to $20 million in EBITDA. Fund III will focus on supporting private equity sponsors in buyout transactions, recapitalizations, refinancings, acquisitions and growth capital with investments in the form of unitranche debt, subordinated debt and minority equity.
“Thank you to our limited partners for the overwhelming support we received for our third fund,” said Jeri Harman, Avante’s Founder and Chairman. “We are grateful to have so many partners who believe in our proven strategy, our unique team and our continued mission to not only deliver superior returns, but also to increase diversity within the private equity and finance industry.”
“We are firm believers that to whom much is given, much is required. As such, we are thrilled to be partnering with each and every one of our limited partners. Their support will enable us to continue to strive for excellence both in generating best-in-class returns and in driving positive change within our industry,” said Ivelisse Simon, Avante’s Managing Partner. “Our team is excited to be embarking on this journey to broaden and deepen our impact as a leading capital solutions provider in the lower middle market.”