Daily News: March 23, 2015

Huntington Closes $91.7MM Growth Capital Fund

Huntington Capital announced the final closing of its third fund, Huntington Capital Fund III. With $91.7 million of total capital commitments, Fund III exceeds the prior fund raise of $78 million for Fund II and includes new and existing investors from state and pension systems, regional and money center banks, foundations, and family offices.

Since its initial close in mid-2013, Huntington has committed approximately $39 million of mezzanine debt and equity from Fund III in eight transactions, consisting of new and add-on investments. Huntington has raised over $210 million in total capital commitments across three funds since its inception in 2000.

“Fund III builds on thestrong momentum of our two previous funds,” said Tim Bubnack, Huntington managing partner. “We truly appreciate our investors’ confidence and support of our mission to make profitable investments in underserved markets.”

Huntington is a leader in the emerging area of debt and equity “impact” funds that both earn favorable returns and help companies produce a positive social impact. To date 80% of Fund III’s capital committed supports various companies’ efforts to increase the number and quality of jobs for low and moderate income individuals.

“Investors interest in Fund III demonstrates that it’s not enough to simply invest capital, it’s important to provide capital that results in sustainable financial performance and enhances the skills and quality of life of the workforce,” noted Morgan Miller, Huntington’s managing partner. “Since the founding of our first fund in 2000, an SBIC, we have been investing in companies which positively impact communities in the Western United States with much-needed, flexibly-structured growth capital.”