Babson Capital Closes Fund With $1 Billion

Babson Capital Management has closed Tower Square Capital Partners II, a $1 billion mezzanine and private equity fund, which will invest in companies in the small end of the middle market. The firm's first fund, Tower Square I, has $265 million in assets and closed in October 2002. With the closing of Tower Square II, the 11-member Babson Capital team is now managing about $3 billion in mezzanine and private equity assets.