Mosaic Capital Partners has closed a $165 million small business investment company (SBIC) fund that will provide mezzanine debt and equity to lower middle-market companies.

This is Charlotte, North Carolina-based Mosaic's first fund. The private equity firm plans to invest or co-invest between $3 million and $15 million per deal for acquisition financing, control buyouts, employee stock ownership plan (ESOP) leveraged buyouts or recapitalization. For more on Mosaic's ESOP activity, its area of expertise, see Recaps Turn to ESOPs.

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