Morgan Stanley Archives

GoldenTree Asset Management Closes $398MM CLO under GLM Strategy

GLM II and its affiliated investment manager, GoldenTree Asset Management , closed a $398 million collateralized loan obligation to be managed by GLM II. With the closing of this CLO, GoldenTree has issued 24 CLOs totaling approximately $13.5 billion under its GLM CLO strategy.

November 21, 2023 BofA Securities | GoldenTree Asset Management | Morgan Stanley | Natwest Markets | Wells Fargo Securities Ian Koplin

Levine Leichtman Capital Partners Sells Therapeutic Research Center to Gridiron Capital

Levine Leichtman Capital Partners (LLCP), a Los Angeles-based private equity firm, sold its portfolio company Therapeutic Research Center (TRC) to Colibri Group, a portfolio company of Gridiron Capital.

Morgan Stanley Names Pick its Next CEO

Morgan Stanley’s board of directors appointed Edward “Ted” Pick, co-president of the firm, to the role of CEO, effective Jan. 1, 2024. He will also join the board of directors at that time. James Gorman, the firm’s current CEO, will become executive chairman.

Deutsche Bank Supports Bain Capital Private Equity’s Acquisition of Fogo de Chão

Fogo de Chão, a Brazilian steakhouse restaurant brand, entered into a definitive agreement to be acquired by Bain Capital Private Equity to accelerate growth and expansion. Deutsche Bank led debt financing for the transaction and is also serving as financial advisor to Bain Capital.

JPMorgan Chase Upsizes HASI’s Revolver to $840MM

Hannon Armstrong Sustainable Infrastructure Capital (HASI), an investor in climate solutions, amended its revolving credit facility, increasing the committed line under the revolving credit facility by $240 million to $840 million. JPMorgan Chase Bank is the administrative agent for the facility.

Morgan Stanley Tactical Value Provides Up to $150MM Non-Dilutive Term Loan to Fibrogen

FibroGen entered into a non-dilutive term loan facility with investment funds managed by Morgan Stanley Tactical Value that will result in proceeds to FibroGen of up to $150 million, providing non-dilutive capital to support growth and innovation.

Oaktree Capital Management Supplies $250MM in Debt Financing to Seres Therapeutics

Seres Therapeutics, a microbiome therapeutics company, entered into a new $250 million senior secured debt facility provided by funds managed by Oaktree Capital Management. Seres drew the first tranche of $110 million at closing, with three additional tranches available.

Major US Banks Deposit $30B in First Republic in Wake of Silicon Valley Bank Collapse

Last week, 11 banks, including Bank of America, Citigroup, JPMorgan Chase and Wells Fargo, combined to make $30 billion in uninsured deposits in First Republic Bank to display confidence in the U.S. banking system following the collapse of Silicon Valley Bank.

Apollo-Led Investor Group Acquires Atlas Air Worldwide

Atlas Air Worldwide, a leading global provider of outsourced aircraft and aviation operating services, and the investor group led by funds managed by affiliates of Apollo, together with investment affiliates of J.F. Lehman & Company and Hill City Capital, completed its acquisition of Atlas Air Worldwide.

Blackstone Acquires Cvent in $4.6B Transaction

Cvent Holding Corp., a meetings, events and hospitality technology provider, entered into a definitive agreement to be acquired by an affiliate of private equity funds managed by Blackstone in a transaction valued at an enterprise value of approximately $4.6 billion.

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