Harbert Management Raising Another Mezzanine Fund

Harbert Management has raised $18.65 million so far for its Harbert Mezzanine Partners III SBIC fund. The fund has a target of $75 million. Harbert Management's mezzanine capital group typically provides $3 million to $15 million in subordinated debt to companies in need of capital for organic growth, acquisitions, recapitalizations or management buyouts.