PRINT THIS PAGE US Praesidian Capital closes its debut mezzanine fund on $156m11/02/2005. Source: AltAssets. 
 US firm Praesidian Capital, a provider of mezzanine debt for middle-market companies, has closed its debut fund on $156m, including both private capital and leverage from the United States Small Business Administration.
Financial institutions including funds managed by Banc of America Capital Access Funds, The Lincoln National Life Insurance Company, Citicorp Venture Capital, Citibank Community Development, JP Morgan Chase & Co., MBNA America and North Fork Bank are among the investors. Prominent family foundations and high-net-worth individuals have also invested in the fund.
Jason D Drattell, managing partner at Praesidian Capital, said, 'My partners and I have worked together in various institutions. Praesidian represents our desire to form a stand alone fund to provide capital to the small/middle market, where we have invested for most of our careers.'
Praesidian Capital, with offices in New York and Los Angeles, is seeking investments in established, historically profitable companies with revenues between $25-250m and operating cash flow between $5-25m in the manufacturing, distribution and service sectors. The firm's partners include Jason D Drattell, Edward L "Ted" Koch, III, Neil A Marks, John O Utendahl, and Edward L Plummer.
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