Daily News: January 13, 2015

GE Antares is Top Lender to Mid-Market PE-Backed Cos

GE Antares announced it closed more than 200 senior loan transactions with corporate borrowers across 88 private equity firms, including 62 new platforms, totaling more than $27 billion in financing in 2014, making it the most active lender to private equity-backed companies in the middle market.

“In 2014, our focus was on providing our clients with flexible financing structures along with consistent, reliable commitments,” said John Martin, president and CEO of GE Antares Capital. “Additionally, through our unique value-creating collaboration, the Access GE program, we partner our clients up with GE’s industrial businesses and its global research labs to help mid-market borrowers realize new growth opportunities.”

In addition, GE Antares closed $2.5 billion in commitments in 2014 through the Senior Secured Loan Program (SSLP), jointly managed by an affiliate of Ares Capital and an affiliate of GE Capital. Since January 2010, the SSLP has committed approximately $16.8 billion to middle market borrowers, most of it in the form of unitranche loans that provide clients with faster closings using simpler loan structures.

“Despite ongoing economic uncertainty, the U.S. midmarket continues to be a key engine of growth for the economy,” commented Martin. “We are committed to helping this critical segment of our economy continue to innovate and succeed and will look to continue to deliver beyond the deal, connecting our clients to GE’s deep industry expertise, such as in the aerospace, technology and energy sectors.”

In 2014, GE Antares held 330 one-on-one Access GE engagements, touching 280 unique borrowers who leveraged GE’s global insights, resources, tools and best practices. Through GE Antares’ partnership with the GE Global Research Center (GRC), one of the world’s first industrial labs, and GE’s industrial businesses, GE Antares originated 60 potential joint R&D projects, new supplier relationships and licensing partnerships with private equity clients and their portfolio companies.

Expanding its coverage of sponsors serving the lower middle market, GE Antares added three senior bankers in 2014, who closed lower midmarket transactions totaling $250 million.

To read the entire press release, click here.