Penman Private Equity

Penman Private Equity & Mezzanine Fund was a Chicago-based investment fund managed by Pennington Partners. Established in 1994, the fund specialized in providing growth capital and mezzanine financing to middle-market companies across various sectors, with a significant focus on healthcare services. One of its most notable investments was SVS Vision, a leading integrated provider of eyecare products and services, which the fund controlled until its sale to a management-led team in 2007. The fund is currently inactive and has been liquidated, having successfully exited its primary portfolio holdings. During its active period, it was a key player in the Midwestern private equity landscape, backed by major institutional investors such as CalPERS and the Oregon Public Employees Retirement Fund.