Pine Street Capital Management is pleased to announce its first investment out of Pine Street Capital Partners III, LP (PSCP III), which was launched in Q4 2016. Nelson Worldwide ("NELSON"), based in Philadelphia, PA, is a leading integrated design and consulting organization with a diverse product offering catering to a wide range of end markets. NELSON offers global design, architecture, engineering, branding, space planning and space management services primarily in the commercial real estate sector. PSCP co-invested in this transaction with NewSpring Mezzanine Capital, Salem Investment Partners, and a subsidiary of Kemper Corporation (NYSE: KMPR). The investor group is partnering with management to support Nelson's growth.
Additionally, a second closing was held on PSCP III in March. PSCP III is now at its initial targeted capital amount. A final closing is expected later this year.
We are actively seeking new investments which meet our criteria, and we are committed to responding quickly to opportunities in a thoughtful and transparent manner. We look forward to working with you.
About Pine Street Capital Partners
Pine Street Capital Partners is a multi-fund management company formed in 2005. PSCP's latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.