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Tuesday, December 23, 2008

Patriot Financial Partners, L.P. said it's finished raising $300 million in ten-year commitments from investors, and it's ready to make "four to six" $5M to $25M stock nvestments in U.S. small banks and financial-service companies (with market caps of $250M-$5B), starting at today's depressed prices, each year for the next four years.

Patriot, run by ex-Sovereign Bank executive and longtime Philadelphia business lender Jim Lynch and former Progress Bank chief Kirk Wycoff, is one of the partnerships that make up Ira Lubert's $11 billion-asset Independence Capital Partners, West Philadelphia.

Besides partners Lynch, Wycoff and Lubert, Patriot principals are Wilson L. Smith, CFA and Kevin J. Kooman, CPA along with Fund Associates, Conor D. McDonnell and Matthew Morris. More info at  www.patriotfp.com

Posted by Joseph N. DiStefano @ 8:35 AM  Permalink | Post a comment
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About Joseph N. DiStefano
Joseph N. DiStefano writes this blog to feed his PhillyDeals column in the Philadelphia Inquirer. Joe has been a member of Bloomberg LP’s New York Finance Team, wrote the book “Comcasted,” taught writing at St. Joseph’s University, and studied economics and history at Penn. Reach Joe at 215-854-5194 and JoeD@phillynews.com