Hesperian Capital Management Ltd.

Hesperian Capital Management Ltd.
Norrep Fund

Crown Capital Partners Inc.

April 05, 2011 15:32 ET

Crown Capital Partners Inc. Announces the First Close of Its Third Alternative Debt Fund and a Strategic Partnership With Hesperian Capital Management Ltd.

CALGARY, ALBERTA--(Marketwire - April 5, 2011) - Crown Capital Partners announced today the first close of Norrep Credit Opportunities Fund ("NCOF") with initial capital commitments of approximately $75 million. In conjunction with the initial closing of this fund, Crown Capital Partners also announced a new strategic partnership with Hesperian Capital Management Ltd. ("Hesperian"), portfolio manager of the Norrep Group of Funds.

NCOF's primary focus will be alternative debt transactions including second-lien debt, mezzanine debt and bridge financing ranging from $5 million to $25 million, or larger. The Fund will make investments in Canadian companies in a broad range of industries.

"We are extremely pleased with the successful first close of NCOF" stated Chris Johnson, President and CEO of Crown Capital Partners. "In a very challenging fundraising environment, we garnered significant interest from top tier high net worth individuals. We are grateful for their support and look forward to building a long and mutually rewarding relationship with each of them"

In conjunction with this fundraising, Crown Capital Partners announced a strategic partnership with Hesperian and the Norrep Group of Funds whereby Hesperian will, pending regulatory and other approvals, acquire an equity interest in Crown Capital Partners. "Our partnership with Hesperian provides us with significant research and investment support along with access to a network of high net worth and retail investors typically not found in our industry. We expect the relationship to be highly beneficial to both organizations." commented Johnson.

Crown Capital Partners anticipates the balance of commitments to be provided by institutional investors as a part of the second closing of NCOF. Final closing is targeted for mid-year with a close of up to $150 million.

Crown Capital Partners is a national investment manager with offices in Calgary and Toronto. Crown Capital Partners provides alternative debt financing for private equity backed and non-sponsored middle market transactions across Canada. Crown Capital Partners was founded in 2000 as a successor company of Crown Life Insurance Company, and is wholly owned by its management partners. Please visit www.crowncapital.ca for additional details.

Hesperian Capital Management Ltd. is an independent investment management firm managing assets of approximately $600 million under the Norrep brand from offices in Calgary and Toronto. Please visit www.hesperiancapital.com for additional details.

Certain information set forth in this press release, including a discussion of future plans and operations, contains forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, environmental risks, industry competition, availability of qualified personnel and management, stock market volatility, and timely and cost effective access to sufficient capital from internal and external sources. There is no guarantee that regulatory and/or other approvals will be obtained. Actual results, performance or achievement could differ from those expressed in or implied by these forward-looking statements.

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