White Oak Commercial Finance it has purchased a portfolio of asset-based loans from Veritas Financial Partners, a Boca Raton, FL based specialty finance company.
Reuters reported Veritas Capital has lined up $850 million in leveraged loans to support its purchase of GE Healthcare’s value-based care business.
Veritas Capital acquired the Enterprise Financial Management (Revenue-Cycle, Centricity Business), Ambulatory Care Management (Centricity Practice Solution) and Workforce Management (formerly API Healthcare) assets of GE Healthcare’s Value-Based Care Division for $1.05 billion in cash.
During Q4/17, the Ares Management Credit Group closed new financing commitments in its U.S. direct lending strategies that totaled approximately $2.8 billion across 53 transactions.
Fifth Street Finance and Fifth Street Senior Floating Rate co-invested in a $195 million one-stop financing facility and an equity in conjunction with Veritas Capital’s acquisition of BeyondTrust.
CRGT and Veritas Capital were recognized with the 2013 Corporate Growth Award for Private Equity Deal of the Year by the National Capital Chapter of the Association for Corporate Growth