Corbel Capital Partners SBIC, L.P., is a private investment firm that has filed a Form D notice with the U.S. Securities and Exchange Commission (SEC) for an exempt offering of securities. This filing provides a snapshot of the company’s identity, business operations, key personnel, and the specifics of their recent securities offering. This document, while not reviewed for accuracy and completeness by the SEC, offers valuable insights into Corbel Capital Partners for those interested in understanding their investment activities and organizational structure.
Company Identity and Formation
Corbel Capital Partners SBIC, L.P. identifies itself as a Limited Partnership, officially formed in Delaware in 2016. This indicates that the company is relatively young, having been established within the last five years at the time of this filing. The central identification key for the company within the SEC’s EDGAR system is CIK (Central Index Key) number 0001702511. This number is crucial for accurately referencing and tracking the company’s filings and history within the SEC database.
Principal Place of Business and Contact Details
Headquartered in Los Angeles, California, Corbel Capital Partners maintains its principal place of business at 12400 Wilshire Blvd., Suite 645, ZIP code 90025. Their listed phone number is 310-579-6241. This location places them in a major financial hub, typical for investment firms.
Related Persons and Executive Leadership
The Form D outlines several key individuals and entities related to Corbel Capital Partners. Notably, Corbel Capital Advisors SBIC, LLC is listed as the General Partner of the Issuer. This entity shares the same business address as Corbel Capital Partners, suggesting a close operational relationship. The executive leadership of the General Partner, and by extension, Corbel Capital Partners, includes:
- Jeffrey B. Schwartz: Serving as an Executive Officer of the General Partner.
- Jeffrey S. Serota: Also an Executive Officer of the General Partner.
- Michael H. Jones: Another Executive Officer of the General Partner, and the signatory of the Form D notice.
These individuals are crucial figures in the management and operation of Corbel Capital Partners, holding executive positions within the General Partner entity that manages the Limited Partnership.
Industry Group and Investment Focus
Corbel Capital Partners operates within the Banking & Financial Services sector, specifically categorized as a Pooled Investment Fund. Further detail indicates they are classified under Other Investment Fund, although the form also marks categories for Private Equity Fund and Venture Capital Fund. This suggests a broad investment strategy that may encompass elements of private equity and venture capital, but is not strictly limited to those categories. The form explicitly states that Corbel Capital Partners is not registered as an investment company under the Investment Company Act of 1940, and claims exemption under Section 3(c)(1) of this act. This section typically exempts private investment funds with a limited number of investors from registration.
Issuer Size and Aggregate Net Asset Value
In terms of issuer size, Corbel Capital Partners has declined to disclose their Revenue Range and Aggregate Net Asset Value Range. This is permissible under Form D guidelines, allowing the company to keep these financial metrics private.
Federal Exemptions and Exclusions Claimed
Corbel Capital Partners is claiming exemptions and exclusions under both the Securities Act of 1933 and the Investment Company Act of 1940. Specifically, they are leveraging Rule 506(b) of Regulation D under the Securities Act, which is a common exemption for private offerings. Additionally, as mentioned earlier, they are claiming exclusion under Section 3(c)(1) of the Investment Company Act of 1940. These exemptions are critical as they allow Corbel Capital Partners to offer securities without the full registration requirements of these acts, under certain conditions and limitations.
Offering Details and Duration
This Form D represents a new notice for a securities offering, with the Date of First Sale recorded as March 15, 2017. The offering is intended to last more than one year, indicating a continuous or ongoing capital raising effort.
Type of Securities Offered
The type of securities being offered are Pooled Investment Fund Interests. This is consistent with their classification as a Pooled Investment Fund and indicates that investors are buying into a fund structure rather than direct equity or debt in operating companies.
Business Combination Transaction and Minimum Investment
The offering is not being made in connection with a business combination transaction such as a merger or acquisition. The minimum investment accepted from any outside investor is stated as $0 USD. While this might seem unusual, it could indicate flexibility in investment amounts or be a placeholder figure, requiring further clarification from the offering documents if available.
Sales Compensation and Finders’ Fees
FBR Capital Markets & Co. is listed as a recipient of sales compensation, with CRD Number 25027. While they are identified, the form also marks “None” for both Broker or Dealer and Broker or Dealer CRD Number, which may need further context from the full filing documents to understand the exact compensation structure. Finders’ fees are reported as $20,000 USD, representing a retainer paid, with potential for further fees based on future activities.
Offering and Sales Amounts
The Total Offering Amount is declared as $150,000,000 USD, a substantial target for capital raising. Of this, the Total Amount Sold at the time of filing was $52,289,542 USD, leaving a Total Remaining to be Sold of $97,710,458 USD. These figures give a clear picture of the scale of the offering and its progress at the time of this SEC filing.
Investors
The filing indicates that there are 25 investors who have already invested in the offering. The form also allows for indicating if securities have been sold to non-accredited investors, but this section is left unmarked, suggesting the offering is primarily targeted towards accredited investors, as is common with Rule 506(b) offerings.
Use of Proceeds
The Form D explicitly states that $0 USD of the gross proceeds is proposed to be used for payments to executive officers, directors, or promoters named in the filing. This is a standard disclosure to assure investors about the intended use of funds raised in the offering.
Conclusion
The Form D filing for Corbel Capital Partners SBIC, L.P. provides a structured overview of their exempt securities offering and key company details. It highlights their status as a private investment fund based in Los Angeles, operating with a team of executive officers through their General Partner, Corbel Capital Advisors SBIC, LLC. The offering aims to raise up to $150 million, targeting pooled investment fund interests under exemptions provided by SEC regulations. While this document is a snapshot in time and not a comprehensive analysis, it serves as a foundational piece of information for anyone tracking Corbel Capital Partners’ activities in the financial markets. For detailed investment decisions, further due diligence and review of the complete offering documents are essential.
