Mezzanine Financing Overview

William Blair Mezzanine Capital Partners (WBMCP) invests mezzanine capital in middle-market companies throughout the United States. Acting as General Partner, we manage more than $600 million through three limited partnerships:

• William Blair Mezzanine Capital Fund III, L.P., a $311,000,000 limited partnership formed in 1999 - currently being invested (see Fund III portfolio)

 
• William Blair Mezzanine Capital Fund II, L.P., a $190,000,000 limited partnership formed in 1997 - fully invested in 15 portfolio companies (see Fund II portfolio)

 
• William Blair Mezzanine Capital Fund, L.P., a $114,650,000 limited partnership formed in 1993 - fully invested in 13 portfolio companies (see Fund I portfolio)

Mezzanine Capital

Mezzanine capital provides borrowing capability beyond senior debt while minimizing the dilution associated with equity capital. It is typically issued in the form of subordinated debt, with some equity ownership provided by a warrant or the outright purchase of common stock.

While mezzanine capital can be used in conjunction with equity, it is often the only junior capital a transaction requires.

Investment Profile

We invest alongside management teams in recapitalizations, management buyouts, leveraged acquisitions, and internal expansions.

The financing provided by WBMCP frequently enables management teams to acquire or invest in the success of the companies they operate. Please review our investment criteria for more information. To learn more about WBMCP, select a category above.

WBMCP is affiliated with William Blair & Company, L.L.C., through William Blair & Company's partial ownership of the three General Partners of the limited partnerships. William Blair & Company is an employee-owned financial services firm offering investment banking, equity research, institutional and private brokerage, asset management and private capital to individual, institutional and issuing clients.

The relationship between the firm and WBMCP provides WBMCP unique access to William Blair & Company's corporate finance and research expertise as well as its broad range of client contacts. In addition, the managing directors of the three General Partners of the limited partnerships are also principals of William Blair & Company.

William Blair Mezzanine Capital Partners refers collectively to William Blair Mezzanine Capital Partners III, LLC, William Blair Mezzanine Capital Partners II, L.L.C. and William Blair Mezzanine Capital Partners, L.P., the General Partner of each of three limited partnerships raised for the purpose of investing mezzanine capital.