Antares served as lead left arranger and administrative agent on a senior secured credit facility to support GTCR’s acquisitions of Ultimus Fund Solutions and The Gemini Companies.
Ultimus and Gemini provide comprehensive and customized middle and back-office solutions to fund managers and investors.
Upon acquisition by GTCR, Ultimus and Gemini will combine in a strategic merger to form an independent provider of full-service fund administration, accounting and investor solutions to traditional and alternative fund managers. On behalf of their customers, the combined companies will service approximately $150 billion of assets under administration and over 840 total funds.
The combined business will operate in the market under the Ultimus Fund Solutions name going forward.
“Antares knows the fund administration space well and was able to commit quickly and provide the optimal financing solution to meet the criteria of the transaction,” said Jim Bonetti, managing director at GTCR. “We’ve worked with Antares for many years and know we can rely on their flexibility and ability to execute.”
“We’re pleased to support GTCR and the teams at Ultimus and Gemini on this latest evolution of their growth,” said Doug Koch, managing director at Antares. “We believe bringing together Ultimus and Gemini will allow for increased innovation and delivery capabilities for their combined customer base while also enhancing growth potential for the combined company.”
Antares is a private debt credit manager and provider of financing solutions for middle-market private equity-backed transactions. In 2018, Antares issued nearly $25 billion in financing commitments to borrowers through its suite of products, including first lien revolvers, term loans, delayed draw term loans, 2nd lien term loans, unitranche facilities and equity investments.
