Veritas Financial Raises $125MM in Capital for Growth
Veritas Financial Partners announced it has raised $125 million in debt and equity to provide for future growth. The company said it recently entered into a credit facility with BMO Harris Bank.
Veritas also secured a private equity investment from funds managed by Atalaya Capital Management as part of a strategic transaction which occurred earlier this year. Veritas will utilize the proceeds from the credit facility and the equity investment to continue expanding its lending platform.
“We are pleased with the closing of this credit facility and infusion of equity, which enhances our ability to serve our growing portfolio of borrowers,” said Gary E Jaggard, CEO of Veritas Financial Partners. “These funds will allow us to meet the significant financing needs within the market we serve.”
Mark Seigel, CFO of Veritas Financial Partners, added, “Our successful transactions with BMO Harris Bank NA and Atalaya Capital Management are the culmination of our 2014 capital raising efforts, which have brought a combined $125 million of fresh capital availability to support our growth plans.”
NYC-based Atalaya Capital Management is an alternative investment firm primarily focused on investing in credit opportunities and special situations.
Founded in 2006, Atalaya has invested over $2.0 billion since inception, mainly via two primary strategies opportunistic loan purchases and proprietary credit originations.