Ridgepost Capital completed its previously announced acquisition of Stellus Capital Management, a U.S. direct lender focused on the lower-middle market with approximately $4 billion in assets under management. Stellus will continue to be managed by its current partners who will lead day-to-day operations, including investment decisions and investment committee processes.
“Closing the Stellus transaction marks another significant milestone in Ridgepost’s strategy to partner with leading specialized investment managers operating in the middle and lower-middle market,” Luke Sarsfield, chairman and CEO of Ridgepost Capital, said. “This acquisition is a natural fit with Ridgepost’s lower-middle market GP ecosystem, creating growth opportunities and further differentiating our investment strategies. Stellus’ longstanding operating history and track record will meaningfully enhance our private credit capabilities, underpinned by a shared philosophy of investment excellence and long-term value creation for clients.”
Robert Ladd, managing partner of Stellus, added, “We are pleased to join Ridgepost’s leading alternatives platform and begin this next phase of growth together. Ridgepost’s broad and collaborative platform, extensive sponsor relationships and commitment to partnership strengthen our ability to originate attractive investment opportunities across our BDCs and private funds. We are confident this combination offers access to expertise and insights from complementary investment managers, allowing us to better meet the evolving needs of our investors.”
Kirkland & Ellis and Troutman Pepper Locke served as legal advisors to Ridgepost Capital. Goldman Sachs acted as exclusive financial advisor and Eversheds Sutherland (U.S.) and Winston & Strawn served as legal advisors to Stellus.
