Key Takeaways
- • The Fire and Police Pension Association of Colorado (FPPA) has committed $20m (£14.7m) to Aldine Capital Fund V, a private capital fund managed by Aldine Capital Partners.
- • Aldine Capital Fund V closed in July 2026 oversubscribed, with $308m in commitments, according to the manager's reporting at the time.
- • The fund is a small business investment company vehicle providing subordinated debt and equity to lower-middle-market US companies, primarily backed by independent sponsors.
- • Aldine, a Chicago-based firm founded in 2005, has raised more than $1bn across five funds and completed more than 90 portfolio investments.
- • FPPA disclosed the allocation in an investment update discussed at a pension fund meeting on 20 August 2026, alongside its other private markets investments, including private equity and special situations.
Summary
The Fire and Police Pension Association of Colorado (FPPA) has committed $20m (£14.7m) to Aldine Capital Fund V, according to Alternative Credit Investor. The pension fund disclosed the approval in an investment update, which was discussed at a pension fund meeting held on 20 August 2026.
Aldine Capital Fund V is a small business investment company vehicle that provides flexible capital, including subordinated debt and equity, to lower-middle-market companies in the United States, primarily backed by independent sponsors. Aldine Capital Partners, a Chicago-based private investment firm, provides junior capital financing to this segment. The firm was founded in 2005 and has raised more than $1bn in committed capital across five funds and completed more than 90 portfolio investments.
The fund closed in July 2026. At the time, the manager reported that it was oversubscribed and had raised $308m in commitments.
FPPA's private debt commitment was reported alongside other private markets allocations, including private equity and special situations investments.
Aldine Capital Fund V is a small business investment company vehicle that provides flexible capital, including subordinated debt and equity, to lower-middle-market companies in the United States, primarily backed by independent sponsors. Aldine Capital Partners, a Chicago-based private investment firm, provides junior capital financing to this segment. The firm was founded in 2005 and has raised more than $1bn in committed capital across five funds and completed more than 90 portfolio investments.
The fund closed in July 2026. At the time, the manager reported that it was oversubscribed and had raised $308m in commitments.
FPPA's private debt commitment was reported alongside other private markets allocations, including private equity and special situations investments.
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