Finacity and PNC Bank launched a trade receivables securitization for a U.S.-headquartered technology support company. The securitization program will allow the company up to $25 million in senior funding provided by PNC, while Finacity will provide up to $1.6 million in junior funding.
Maranon Capital added five members to the firm’s investment and portfolio teams. Christian Jacobs has joined the firm’s investment team as an analyst and Daniel Figliulo, Quinn Gaughan, Gregory Hulse and Jacqueline Trujillo joined the portfolio team as portfolio analysts.
White Oak Global Advisors completed fundraising for White Oak Yield Spectrum Fund V and other associated vehicles with more than $1.3 billion of total committed capital. An additional commitment of up to $1 billion was received for investments in specialty finance with a focus on asset-based lending.
New Mountain Capital, which manages more than $35 billion across private equity, credit and net lease real estate, closed its latest direct lending fund, New Mountain Guardian III BDC, with approximately $1.15 billion of capital commitments from investors.
Driven by consolidation and regulation in the banking sector, rising private equity activity, demand from mid-size enterprises and investors seeking alternatives to low-yielding public debt instruments, direct lenders have enjoyed strong growth since the global financial crisis. Symon Drake-Brockman uses the findings of the European Direct Lending – Review and Outlook Report by Saïd Business School, Oxford University, published in February 2021, and his own perspective to explain why these tailwinds are likely to persist.
Northstar Capital, a provider of junior capital for middle-market private equity transactions, invested in Consolidated Equipment Group, a portfolio company of Dominus Capital. Northstar Capital provided debt and an equity co-investment to help Dominus Capital finance the transaction.
The private equity business of Goldman Sachs Asset Management and Charlesbank Capital Partners entered into a definitive agreement to acquire majority ownership of MDVIP from Leonard Green & Partners and Summit Partners.
Golub Capital acted as left lead arranger, administrative agent and joint bookrunner on an $810 million syndicated loan facility to support the acquisition of Rough Country by TSG Consumer Partners and on a $425 million syndicated loan facility to support the acquisition of Confluence Technologies by Clearlake Capital.
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.
HCAP Partners exited its investment in 83bar, a specialist in patient journey management for both clinical trials and commercial clients across the pharmaceutical, medical device and diagnostic industries.