Owl Rock Capital Group and the Dyal Capital Partners division of Neuberger Berman Group entered into a definitive business combination agreement with Altimar Acquisition Corporation to form Blue Owl Capital, an alternative asset management firm with more than $45 billion in assets under management.
Centric Brands emerged from voluntary Chapter 11 proceedings. Sound Point Capital Management provided exit financing to the company, while Ropes & Gray, PJT Partners and Alvarez & Marsal served as legal, financial and restructuring advisors, respectively.
HPS Investment Partners closed its Mezzanine Partners 2019 Fund with total investable capital of more than $11 billion, including approximately $9 billion in equity commitments, which exceeded the fund’s target equity capitalization of $8 billion.
Bombardier closed a three-year $1 billion senior secured term loan facility with HPS Investment Partners, acting as administrative agent, collateral agent and the lead lender for a group including HPS Investment Partners, Apollo Capital Management and Ares Management.
Through its global direct lending platform, Ares Management is serving as the lead arranger for a £1.875 billion ($2.34 billion) financing commitment to The Ardonagh Group, an independent insurance broker.
Centric Brands entered into a restructuring support agreement, led by certain funds managed by Blackstone, Ares Management, and HPS Investment Partners, to recapitalize the company and provide $435 million in debtor-in-possession financing.
Emerge Energy entered into a senior secured asset-based revolving credit and security agreement of up to $100 million with HPS Investment Partners as administrative agent and collateral agent.
TiVo entered into a new $715 million five-year term loan credit agreement with HPS Investment Partners as administrative and collateral agent, plus a $60 million revolving loan credit agreement with Morgan Stanley Senior Funding and Wells Fargo Bank.
Capital One served as administrative agent and joint lead arranger on a senior secured unitranche facility to support Excellere Partners’ recapitalization in partnership with the founder and management of SePRO. The facility was provided in part by Capital One’s ULTra unitranche loan program.
Capital One served as administrative agent on a $375 million senior secured unitranche facility for AccentCare, a portfolio company of Oak Hill Capital Partners. The facility consists of a $250 million term loan, a $50 million delayed draw term loan and a $75 million revolving line of credit.