Texas-based private equity firm Dos Rios Partners has held a $225m final close for its debut fund, which will target junior securities of growing niche businesses.
The oversubscribed vehicle will aim to invest in common, preferred and mezzanine debt in companies with EBITDA of between $2m and $8m, through either control or non-control deals.
AltAssets revealed in September that the firm had collected $150m for the fund and had received its US Small Business Investment Company licence.
The firm’s name refers to the Mississippi and Rio Grande rivers, which along with the Gulf of Mexico cradle the six states in which the firm focuses its attention.
Dos Rios’ partners have strategically positioned themselves in three major metropolitan areas and five major cities – the largest cities in the six-state region.
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