LBC Small Cap Management, L.P. (LBC Small Cap), an affiliate of LBC Credit Partners, announced the closing of its first fund, LBC Small Cap SBIC, L.P., at $139 million.

Don Rice, Partner at LBC Small Cap, said, "We appreciate the strong interest and support we received from our investors. LBC Small Cap will continue to focus on senior, unitranche, and mezzanine debt and equity investments from $4 million to $14 million to support strong management teams and the growth of lower middle market companies across the United States."

Separately, LBC Small Cap announced the addition of Kyle Peters to the investment team as a Vice President. He will be responsible for executing new transactions as well as managing existing portfolio investments. He has significant experience working with management teams and executing middle-market transactions including senior debt, structured equity, minority equity and control equity investments in a variety of situations.