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Alternative Assets  + Private Debt  | 
Hidden River Closes Debut Junior Capital Fund at $245M

Hidden River Closes Debut Junior Capital Fund at $245M

Investment firm Hidden River Strategic Capital closed its debut fund, Hidden River Strategic Capital I, with $245 million of committed capital, significantly above its initial target.

Formed by founding partners Steve Gord, Todd Morrissey and Kevin Condon, Philadelphia-based Hidden River focuses exclusively on junior capital for small business owners.

“Private lower middle-market businesses tend to face a funding void between the often-rigid investment approaches of traditional credit funds and the overly dilutive, controlling approaches of growth equity and buyout funds,” Gord said. “We started Hidden River to address this gap in the market with our structured capital offering — flexible, hybrid debt and equity,” said Gord.

Hidden River invests $5 million to $25 million in businesses typically generating at least $10 million in revenues. The fund, licensed as a Small Business Investment Company (SBIC), will support management teams who will continue to own and operate their business.

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Hidden River Strategic Capital

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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