Daily News: November 11, 2014

Fifth Street Management Agents Idera Refi Facility

Fifth Street Finance (FSC) and Fifth Street Senior Floating Rate (FSFR) announced that they have co-invested, along with other Fifth Street investment vehicles, in a senior secured financing facility to support the refinancing of Idera by TA Associates. Fifth Street Management, FSC’s and FSFR’s investment adviser, served as administrative agent for the transaction.

The Idera financing represents the Fifth Street platform’s fifth transaction with TA Associates, one of the largest and most experienced global growth private equity firms. TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries.

“Fifth Street has once again proven to be a reliable and diligent lending partner to our firm,” stated Hythem T. El-Nazer, a director at TA Associates. “The team was able to quickly commit to the structure we envisioned today, while intuitively grasping Idera’s organic growth and acquisitions strategy for the future.”

“We look forward to continuing to support TA Associates and Idera as they execute their growth strategy and identify opportunities to strengthen the company’s position as an ongoing leader in the infrastructure software market,” noted Ivelin M. Dimitrov, chief investment officer of FSC and chief executive officer of FSFR.

Idera is a provider of performance monitoring software for physical, virtual and cloud-based application ecosystems.