Former Gibraltar Capital CEO Darren Latimer launched Stonegate Capital Holdings to provide $1 million to $10 million asset-backed loans to established lower middle market enterprises and emerging brands.

The founding team includes CFO Tim Gottfried, formerly of CDW and Cerberus Capital; Tony Cappell, formerly of First Midwest Bank and Andrea Hedrick, previously of Wells Fargo Capital Finance.

Shortly after opening, Stonegate closed on a significant equity investment led by Bridge Investments, a Chicago-based private equity firm, and New York-based MBB.