[Federal Register Volume 59, Number 100 (Wednesday, May 25, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-12657]


[[Page Unknown]]

[Federal Register: May 25, 1994]


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SMALL BUSINESS ADMINISTRATION
[Application No. 99000087]

 

Sorrento Growth Partners I, L.P.; Notice of Filing of an 
Application for a License To Operate as a Small Business Investment 
Company

    Notice is hereby given of the filing of an application with the 
Small Business Administration (SBA) pursuant to Sec. 107.102 of the 
Regulations governing small business investment companies (13 CFR 
107.102 (1994)) by Sorrento Growth Partners, I, L.P., 4225 Executive 
Square, San Diego, California 92037, for a license to operate as a 
small business investment company (SBIC) under the Small Business 
Investment Act of 1958, as amended, (15 U.S.C. et seq.), and the Rules 
and Regulations promulgated thereunder. Sorrento Growth Partners I, 
L.P. is a California limited partnership.
    Sorrento Growth Partners I, L.P. will be managed by its General 
Partner, Sorrento Partners Inc., located at the same address as the 
applicant. Robert M. Jaffe is the sole shareholder of Sorrento Growth 
Inc. and the officers and directors are: 

------------------------------------------------------------------------
                      Name                                 Title        
------------------------------------------------------------------------
Robert M. Jaffe, 6474 Avenida Cresta, La Jolla,   President and         
 California 92037.                                 Chairman.            
Michael D. Titus, 229 I Avenue, Coronado,         Sr. Vice President,   
 California 92118.                                 Director, and        
                                                   Secretary.           
Vincent Burgess, 4225 Executive Square, San       Director.             
 Diego, California 92037.                                               
------------------------------------------------------------------------

    The following limited partners own 10 percent or more of the 
proposed SBIC:

------------------------------------------------------------------------
                                                              Percentage
                            Name                                  of    
                                                               ownership
------------------------------------------------------------------------
Sorrento Ventures IIB, L.P., 4225 Executive Square, San                 
 Diego, California 92037....................................       71.1 
Sorrento Ventures IIC, L.P., 4225 Executive Square, San                 
 Diego, California 92037....................................       28.6 
------------------------------------------------------------------------

    The following investors own 10 percent or more of the applicant's 
Regulatory Capital through their investments in the entities listed 
above:

San Diego Gas and Electric Pension Fund, 101 Ash Street, San Diego, 
California 92101
Arthur Nicholas, Nicholas-Applegate Capital Management, 600 West 
Broadway, San Diego, California 92101.

    The applicant has total committed capital of $10.5 million and 
Regulatory Capital of at least $9.0 million. It will be a source of 
debt and equity financings for qualified small business concerns, and 
will invest primarily in Southern California.
    Matters involved in SBA's consideration of the application include 
the general business reputation and character of the proposed owners 
and management, and the probability of successful operations of the new 
company under their management, including profitability and financial 
soundness in accordance with the Act and Regulations.
    Notice is hereby given that any person may, not later than 30 days 
from the date of publication of this Notice, submit written comments on 
the proposed SBIC to the Associate Administrator for Investment, Small 
Business Administration, 409 3rd Street, SW., Washington, DC 20416.
    A copy of this Notice will be published in a newspaper of general 
circulation in San Diego, California.

(Catalog of Federal Domestic Assistance Programs, No. 59.011, Small 
Business Investment Companies)

    Dated: May 19, 1994.
Robert D. Stillman,
Associate Administrator for Investment.
[FR Doc. 94-12657 Filed 5-24-94; 8:45 am]
BILLING CODE 8025-01-M