Funds managed by the credit group of Ares Management closed approximately $2.1 billion in U.S. direct lending commitments across 35 transactions during Q1/23.
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.
Private equity company New Mountain Capital acquired Georgia-based dental services company Benevis from Lincoln International.
NXT Capital closed a $220 million senior secured credit facility to support New Mountain Capital’s acquisition of Ontario Systems.
Antares served as a lead arranger and is acting as administrative agent for a senior secured credit facility to refinance existing debt and provide additional debt financing for New Mountain Capital’s Gelest.
Citizens Commercial Banking led a new credit facility for Fairfax, VA-based MAG Aerospace to provide working capital and acquisition financing. Citizens served as left lead arranger, joint bookrunner and administrative agent on the transaction.
Ziegler, a specialty investment bank, served as financial advisor in the sale of Naveos to Revint Solutions, a portfolio company of New Mountain Capital.
Barings served as a joint lead arranger on a senior secured credit facility to support New Mountain Capital’s acquisition of DRB Systems.
Franklin Square Capital Partners originated a $260 million unitranche term loan to support the acquisition and combination of Trover Solutions and Equian by New Mountain Capital.