Funds and accounts managed by BlackRock provided a $45 million secured credit facility to Boxed, an e-commerce grocery platform selling bulk consumables and an e-commerce enabler selling software and services to enterprise retailers.
Newcleus, a provider of employer-owned life insurance and annuity products, completed a strategic transaction with the Waterfall Sentinel Fund, a private equity vehicle managed by Waterfall Asset Management.
Vmo Aircraft Leasing increased its capital base from $500 million to $1.1 billion through its latest round of fundraising. Ares Alternative Credit Group, funds managed by Oaktree Capital Management and Diameter Capital Partners provided the capital injection.
Ares SSG, an Asia-Pacific alternative asset manager, closed its third Secured Lending Opportunities Fund III (SLO III), achieving capital commitments of more than $1.6 billion, which Ares believes is the largest pan-Asian secured lending fund to date.
H.I.G. Capital, a global alternative investment firm with $45 billion of equity capital under management, sold its portfolio company, US Medical Supply, to Advanced Diabetes Supply, a portfolio company of Court Square Capital Partners.
Star Mountain Capital, a specialized investment manager focused on investing in the lower middle market, added John Ide as a managing director for its Chicago office. Ide has 30 years of experience in credit and in advising on alternative investments.
H.I.G. Capital formed United Flow Technologies (UFT), a platform established to invest in the municipal and industrial water and wastewater market. UFT’s first transaction was the recapitalization of MISCOwater.
Wells Fargo Asset Management’s closed-end funds will change their names to include the name Allspring, with the name change expected to go into effect on Oct. 11. Wells Fargo Asset Management will also change its name to Allspring Global Investments.
KKR released its 2021 mid-year outlook piece by Henry McVey, CIO of KKR’s Balance Sheet and head of Global Macro and Asset Allocation. The key message to investors is to get long pricing power and collateral-based cash flows.