U.S.-based debt and equity investment firm outsources fund administration services to drive growth
WEST ORANGE, NJ (May 8, 2018)—PEF Services, a leading fund administrator for alternative investment managers, today announced that it has been selected to provide fund administration services to Lake Country Capital SBIC, LP, (“LC2”) a Minneapolis-based debt and equity investment firm providing transitional and growth capital to US-based lower middle market companies. PEF Services will provide fund administration services to LC2, supported by PEF’s experienced team and leading-edge fund accounting platform.
LC2 works in partnership with management teams, business owners and private equity firms to finance growth initiatives, recapitalizations and ownership transitions. The LC2 team has overseen nearly $4 billion in credit-oriented transactions, including $700 million in mezzanine and equity investments in 65 lower middle market companies
“PEF’s extensive experience in servicing private equity investment funds, coupled with its advanced technology infrastructure that will allow us to scale, were key factors in our decision,” said Andrew Leonard, Partner at LC2. “Outsourcing fund administration to PEF will enable us to focus on core management and strategic investment initiatives such as business development, portfolio management and investor relations.”
PEF Services is nationally recognized as one of the top boutique fund administrators and back-office specialists for both General Partners and Limited Partners in the alternative asset space. The Firm’s services include partnership accounting, financial reporting, capital call and distribution processing, investor capital account maintenance, audit and tax return support and coordinated fulfillment of all investor deliverables.
“We are very excited to welcome Lake Country Capital to our family of clients,” said Hank Boggio, Chief Revenue Officer of PEF Services. “Lake Country is focused on driving superior returns to its investors and we look forward to supporting its endeavors to achieve greater efficiencies while focusing on growth initiatives.”
About Lake Country Capital
Lake Country Capital (“LC2”) is a debt and equity investment firm providing transitional and growth capital to U.S.-based lower middle market companies. LC2 targets businesses with EBITDA of $2 million to $10 million across a variety of industries, including the manufacturing, business services, consumer-related and medical/healthcare sectors. The firm invests primarily in debt securities encompassing a range of senior and subordinated, as well as structured equity securities. The firm works in partnership with management teams, business owners and private equity firms to finance growth initiatives, recapitalizations and ownership transitions. LC2 maintains offices in Minneapolis and Los Angeles. For more information on Lake Country Capital, please visit www.lakecountrycapital.com/.
About PEF Services LLC
PEF Services provides high-value, high-touch Fund Administration solutions supported by senior professionals with extensive experience in alternative investments. PEF has a 15-year track record of delivering cost-effective solutions to Funds and General Partnerships, including Buyout, Venture, Real Estate, Special Purpose Vehicles, Mezzanine, Credit, SBIC, and Fund of Funds. The firm’s LP Administration Solutions Group (LPAS) focuses solely on meeting the unique administration and data needs of limited partners investing in illiquid alternative assets. In partnering with PEF, firms increase operational efficiency, reduce and control operating costs, improve focus on core capabilities, and gain access to experts in private capital back office operations. For more information please visit www.pefservices.com.