Investment firm Pine Brook will invest $110 million in lending group Strategic Funding Source Inc.
New York-based Strategic Funding provides direct financing, including loans and cash advances, to small and mid-size companies. The group has funded about $700 million since it was started in 2006.
So far, Strategic Funding, led by CEO Andrew Reiser has received $35 million from the equity financing agreement. The company expects the investment to help it grow.
Pine Brook, also headquartered in New York, has about $5 billion in assets under management. The firm focuses on energy and financial services investments. In February, the firm closed a $2.43 billion fund to invest in financial services and energy businesses. For more on the firm, see "3Qs With Craig Jarchow, Managing Director, Pine Brook Partners."
Kirkland & Ellis LLP acted as Pine Brook's legal counsel, while Proskauer Rose LLP provided legal advice to Strategic Funding.