How many Mezzanine lenders are there?

The TerraNova database tracks 451 active funds with a Mezzanine mandate as of Sep 14, 2026. The median stated check-size band is around $10M–$100M.

How do I find mezzanine lenders for my deal?

Describe your deal once — amount, sector, geography — and the TerraNova engine scores every active Mezzanine fund against it in about 60 seconds, free, with the reasoning shown per fund.

Private credit glossary · Data updated Sep 14, 2026

What is mezzanine debt?

Mezzanine debt is subordinated capital that sits between senior debt and equity — higher-cost than senior debt but cheaper than dilution, often carrying an equity kicker such as warrants.

451

active Mezzanine funds in the TerraNova database

$10M–$100M

median stated check-size band

How it works

Ranks behind senior lenders in repayment, so it prices higher (often low-to-mid teens all-in).
Usually unsecured or second-lien, sized on EBITDA rather than hard assets.
Frequently includes warrants or payment-in-kind (PIK) interest to reduce cash coupon.

When borrowers use it

Filling the gap when senior lenders cap out but the deal needs more leverage.
Buyouts, recapitalizations, and growth capital where dilution is not an option.

Browse all 451 Mezzanine lenders

Named funds with check sizes, sectors, and deal-team contacts — free to search.

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