LeverPoint Management has partnered with Hamilton Lane, a global private markets asset management firm, and the New York Credit SBIC Fund (the Fund).
The Fund, in collaboration with company management, is providing a debt and equity investment in LeverPoint that will serve as a catalyst for continued growth and enhanced client services.
Based in Clifton Park, NY, LeverPoint offers full service accounting, tax and back office support to the alternative investment sector, allowing fund managers to devote their time to core business functions such as investing and managing funds. LeverPoint's dedicated team of experts works as a seamless extension of private equity and venture capital clients.
Since 2007, LeverPoint has expanded from 18 associates to more than 110. This investment will support the firm's continued commitment to growth and elevating the fund management proficiency of its clients. Graycliff Capital and LMZ Partners also served as partners in the investment.
"We are excited to partner with Hamilton Lane and the entire investor group, as we continue to build our business and grow our team," says David MacPhee, CEO of LeverPoint. "The New York Credit SBIC Fund will be a tremendous resource and strategic partner to help LeverPoint realize its growth objectives and deliver best-in-class service for our clients of all sizes."
"LeverPoint has achieved very meaningful growth over the past several years, while also focusing on bringing jobs and economic activity to the local New York economy – a commitment we are proud to support," says Dave Helgerson, managing director of Hamilton Lane. "We chose LeverPoint as the first investment for the Fund, which is a testament to the firm's growth potential, unwavering focus on client services and ability to serve fund managers of all sizes, strategies and service needs."
Hamilton Lane first announced the launch of the SBIC Fund in November 2015, upon the successful close of USD200 million in total capital, with significant support from anchor investor, the New York State Common Retirement Fund (NYSCRF). The main focus of the SBIC Fund is to provide loans to small businesses in New York, which range in size from USD1 million to USD20 million in earnings and can invest in amounts ranging from USD5 million to USD20 million.
