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Charlesbank Capital Partners Invests in StoneCastle Partners
| Source: Charlesbank Capital Partners
BOSTON, MA--(Marketwire - January 2, 2008) - Charlesbank Capital Partners announces its
investment in StoneCastle Partners. StoneCastle is a leading asset
management firm that invests in small and medium-sized banks and other
financial institutions that are the cornerstones of their local
communities. StoneCastle's principals have originated and invested over $6
billion of trust-preferred securities (TruPS) from more than 800 small and
medium-sized banks. Charlesbank acquired a minority interest in StoneCastle
and has invested additional capital to fund future asset growth. Terms of
the transaction were not disclosed.
Founded in 2003, StoneCastle Partners has a strong investment track record
in managing bank regulatory capital, including trust-preferred securities
and subordinated debt. StoneCastle currently has over $2 billion of assets
under management. The company intends to continue growing its core
business by leveraging its origination network and underwriting
capabilities to invest in other community bank assets and liabilities
through a variety of investment vehicles.
"StoneCastle has an experienced, entrepreneurial and innovative management
team," says Brandon White, Managing Director at Charlesbank Capital
Partners. "The company's zealous adherence to high credit standards ideally
positions it to expand into new asset classes and sources of capital,
continuing to leverage its origination network and underwriting skills to
serve the community banking market."
"We are excited about the capital and experience that Charlesbank brings to
StoneCastle. The community banking market is large and underserved, and our
partnership with Charlesbank will facilitate our continued growth in the
industry," says Joshua Siegel, Managing Principal of StoneCastle.
For more information on StoneCastle, visit www.stonecastlepartners.com.
About Charlesbank
With offices in Boston and New York, Charlesbank Capital Partners is a
middle-market private equity investment firm managing approximately $1.5
billion of capital. Charlesbank focuses on management-led buyouts and
growth capital financings, typically investing $25 million to $100 million
per transaction in companies with enterprise values of $50 million to $750
million. The firm seeks to partner with strong management teams to build
companies with sustainable competitive advantages and excellent prospects
for growth. Charlesbank is currently investing through Charlesbank Equity
Fund VI, a $900 million fund. For more information, visit
www.charlesbank.com.