Charlesbank Capital Partners announces its investment in StoneCastle Partners. StoneCastle is a leading asset management firm that invests in small and medium-sized banks and other financial institutions that are the cornerstones of their local communities. StoneCastle’s principals have originated and invested over $6 billion of trust-preferred securities (TruPS) from more than 800 small and medium-sized banks. Charlesbank acquired a minority interest in StoneCastle and has invested additional capital to fund future asset growth. Terms of the transaction were not disclosed.
Founded in 2003, StoneCastle Partners has a strong investment track record in managing bank regulatory capital, including trust-preferred securities and subordinated debt. StoneCastle currently has over $2 billion of assets under management. The company intends to continue growing its core business by leveraging its origination network and underwriting capabilities to invest in other community bank assets and liabilities through a variety of investment vehicles.
“StoneCastle has an experienced, entrepreneurial and innovative management team,” says Brandon White, Managing Director at Charlesbank Capital Partners. “The company’s zealous adherence to high credit standards ideally positions it to expand into new asset classes and sources of capital, continuing to leverage its origination network and underwriting skills to serve the community banking market.”
“We are excited about the capital and experience that Charlesbank brings to StoneCastle. The community banking market is large and underserved, and our partnership with Charlesbank will facilitate our continued growth in the industry,” says Joshua Siegel, Managing Principal of StoneCastle.
For more information on StoneCastle, visit www.stonecastlepartners.com.
ABOUT CHARLESBANK CAPITAL PARTNERS
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private equity investment firm managing more than $2 billion of capital. Charlesbank focuses on management-led buyouts and growth capital financings, typically investing $50 million to $150 million per transaction in companies with enterprise values of $100 million to $750 million. The firm seeks to partner with strong management teams to build companies with sustainable competitive advantages and excellent prospects for growth. Visit www.charlesbank.com for more information.