Assurance Mezzanine makes headway on Fund III raise

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Lower mid-market debt and equity investor Assurance Mezzanine has passed $70m for its latest fundraise.

The firm was launched by former Penta Mezzanine and Florida Mezzanine Fund co-founder Seth Ellis.

No target is given for the latest fundraise, dubbed Assurance Mezzanine Fund III, according to a filing the firm made with the US securities regulator.

A total of 31 investors have had their capital registered to the fund to date, it adds.

Assurance looks to provide between $3m and $20m to lower mid-market businesses, favouring established companies operated by experienced and proven management teams.

The firm says it is industry agnostic, although it adds that it will not invest in real estate or oil and gas exploration businesses.

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