Bowmark wins Mid-Market Buyout House of the Year

Bowmark

Bowmark is honoured to have received the Unquote British Private Equity Award for Mid-Market Buyout House of the Year 2020.

The awards recognise the role of private equity in generating outstanding returns for investors while fostering growth in the UK economy. The winners were selected by Unquote readers and industry stakeholders.

Unquote commented: “Bowmark delivered strong investment performance over the judging period, with the companies in its two current funds delivering profit growth of over 15% in the year to June 2020.”

Charles Ind, Bowmark managing partner, said: “In what has been a challenging year for everyone, we are incredibly grateful to our colleagues in the industry for selecting Bowmark for this award. We are delighted that the outstanding work of our portfolio companies has been recognised, and our team will endeavour to maintain its high standards of delivery for our investors.”

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Ratos Nomination Committee and 2021 AGM

Ratos

Ratos’s Annual General Meeting (AGM) will be held on 5 May 2021 at Skandiascenen, Cirkus, in Stockholm, Sweden.

In accordance with the policy for appointing Ratos’s Nomination Committee, it is hereby announced that the company’s major owners/owner constellations have appointed a Nomination Committee with the Chairman of the Board Per-Olof Söderberg as the convener.

The Nomination Committee comprises the following individuals:

  • Jenny Parnesten, nominated by the Ragnar Söderberg Foundation, and own and related parties’ holdings
  • Jan Söderberg, own holdings
  • Maria Söderberg, nominated by the Torsten Söderberg Foundation, and own holdings
  • Erik Brändström, nominated by Spiltan Fonder AB
  • Martin Gärtner, nominated by SEB Investment Management
  • Per-Olof Söderberg, Chairman of Ratos’s Board

The Nomination Committee has nominated Jenny Parnesten as Chairman.

In accordance with an AGM resolution, the Nomination Committee shall evaluate the composition and work of the Board of Directors and draft proposals for the 2021 AGM regarding:

  • election of the Board of Directors and Chairman of the Board
  • election of Auditor (in cooperation with the Audit Committee)
  • remuneration to Board members and auditors
  • election of Chairman of the AGM
  • where necessary, changes to principles for composition of the next Nomination Committee

Shareholders who wish to submit proposals to the Nomination Committee may send an e-mail to helena.jansson@ratos.com (subject line “To the Nomination Committee”) or a letter to Ratos Nomination Committee, Helena Jansson, Ratos AB, Box 1661, SE-111 96 Stockholm, Sweden, not later than 31 January 2021.

Shareholders who wish to submit a proposal for consideration at the AGM should send such a proposal to the Chairman of the Board (at the above address) not later than 17 March 2021 in order for the proposal to be included in the notice of the AGM.

 

For further information, please contact:
Jenny Parnesten, Chairman of Nomination Committee, +46 70 742 51 77
Per-Olof Söderberg, Chairman of the Board, Ratos, +46 8 700 17 98

About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer & Technology and Industry. In total, the companies have SEK 38 billion in sales and EBITA of SEK 1.8 billion. Our business concept is to develop mid-sized companies headquartered in the Nordics that are or can become market leaders. We enable independent mid-sized companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

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Arbor Investments Closes Fund V and DOF II, Raising over $1.65B of Capital

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Arbor Investment

Oct. 14, 2020

Arbor Investments (“Arbor”), a specialized private equity firm that focuses exclusively on investing in the food and beverage industry, announced today the closing of its fifth equity fund, Arbor Investments V, LP (“Fund V”), with $1.5 billion of outside capital commitments, as well as its second captive subordinated debt fund, Arbor Debt Opportunities Fund II, LP (“DOF II”), with $168 million of outside commitments. The close brings Arbor’s total assets under management (AUM) to $2.9 billion.

Gregory Purcell, Arbor co-founder and CEO, commented, “We are humbled by the commitments from our longtime limited partners as well as the interest from new investors who have entrusted Arbor with their capital. The quick and successful closing of Arbor Fund V, especially during this unique fundraising environment, is not only a testament to our outstanding investment track record but also a continued endorsement of the highly differentiated strategy we’ve refined over more than two decades. We anticipate tremendous opportunity to deploy this new capital with outstanding entrepreneurial families and blue-chip strategic players.”

“Contrary to typical private equity firms, Arbor has always been focused on adding value beyond just capital and our results reflect this unconventional approach,” said Senior Operating Partner Timothy Fallon. “We’re firm believers in the advantages of industry specialization and our model is rooted in leveraging the firm’s experienced team of in-house resources to identify and execute transformative changes to our portfolio companies. It’s an operationally intense, all-hands-on-deck attitude that we believe drives value creation and positions us as the partner of choice to companies in the food and beverage sector.”

“Arbor’s brand is stronger than ever,” added Arbor President Carl Allegretti. “We are honored to have earned the trust of our investors and I couldn’t be more proud of our people. To raise this amount of capital so efficiently in this unprecedented time is a testament to the strength of our team and the track record that has been built over the 21 years of Arbor. The best is yet to come.”

Shannon Advisors acted as placement agent, and Kirkland & Ellis LLP served as fund legal counsel.

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Levine Leichtman Capital Partners Closes Second Europe Fund with €463 million of Capital Commitments

Levine Leichtman

LOS ANGELES, October 13, 2020 – Levine Leichtman Capital Partners (“LLCP”) today announced the final closing of Levine Leichtman Capital Partners Europe II SCSp (“Europe II”) with €463 million of capital commitments.

Europe II received strong support from a prestigious group of institutional investors, including pension funds, insurance companies, banks, family offices and foundations.  Europe II has already completed one investment and has two additional investments under contract.

LLCP has been investing in Europe since the opening of its London office in 2011, expanding its presence with the addition of offices in The Hague in 2015 and Stockholm in 2019.  LLCP’s first Europe-focused fund, Levine Leichtman Capital Partners Europe, L.P., closed in 2015 with €100 million of capital commitments and has made four investments.

“We are excited to close our second Europe fund with commitments from returning and new limited partners,” said Michael Weinberg, a Managing Partner of LLCP.  “The very positive response to the fund is a testament to the success of our first Europe Fund and the differentiated investment strategy we implement on a global basis.  It also reflects the strength of our European team, which is supported by the broad resources and expertise of our entire firm.”

John O’Neill, Head of European Fund Investments at LLCP said, “Our firm is very enthusiastic about the investment environment across Europe. Over the past several years we have established offices in key European markets and recruited outstanding investment professionals, positioning our firm to capitalize on a range of attractive opportunities.” Wouter Snoeijers, a Managing Director of LLCP, added, “In the coming years we expect to continue building our European origination and investment operations, reflecting our commitment to supporting industry leading middle-market companies in this important market.”

About Levine Leichtman Capital Partners                                   

Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 37-year track record of investing across various targeted sectors, including franchising, professional services, healthcare, education and engineered products.  LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies.  This unique structure provides a less dilutive solution for management teams and entrepreneurs, while delivering growth and income with a significantly lower risk profile.

LLCP’s global team of dedicated investment professionals is led by seven partners who have worked together for an average of 21 years. Since inception, LLCP has managed approximately $11 billion of institutional capital across 14 investment funds and has invested in over 85 portfolio companies. LLCP currently manages approximately $7 billion of assets – including its most recent flagship fund, Levine Leichtman Capital Partners VI, L.P., which closed in 2018 with $2.5 billion of committed capital – and has offices in Los Angeles, New York, Chicago, Charlotte, Miami, London, Stockholm and The Hague.

© 2020 Levine Leichtman Capital Partners. All rights reserved.

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CVC Credit Partners prices second CLO in a month

Apidos XXXIV will increase CVC Credit Partners Global CLO issuance in 2020 to over $1.6 billion

CVC Credit Partners is pleased to announce that it has priced Apidos XXXIV, a collateralised loan obligation fund totalling $402.5 million. This is the second CLO fund CVC Credit has priced in the last month, following the pricing of Cordatus XVIII in late September. Together these funds total c.$850 million of new issuance and will increase CVC Credit’s global CLO funds raised in 2020 to c.$1.6 billion. Pro forma for both funds CVC Credit’s global CLO assets under management now stand at approximately $17 billion.

Arranged by Deutsche Bank, Apidos XXXIV is CVC Credit’s second new-issue CLO to price in the US in 2020 and will increase US CLO AUM to approximately $10 billion. As with previous Apidos CLOs, the fund is primarily comprised of broadly syndicated First Lien Senior Secured Loans.

Cordatus XVIII is a €382.5 million European focused CLO, also arranged by Deutsche Bank. It is CVC Credit’s second European CLO priced in 2020, following Cordatus XVII in June. European CLO AUM now stands at $7 billion.

Kevin O’Meara, Senior Managing Director and Portfolio Manager at CVC Credit Partners, said: “To price two deals in the US during such a volatile year displays the disciplined and targeted approach of the platform. We are pleased with our asset ramp for Apidos XXXIV and the recent improving market conditions created a window to price our liabilities at an attractive financing rate.”

Gretchen Bergstresser, Global Head of Performing Credit at CVC Credit Partners, commented: “This is our fourth new CLO issuance globally in 2020 – a good result, particularly for a year as challenging as 2020. Thanks to the cohesion of our US and European teams we were able to run broadly concurrent processes for Apidos XXXIV and Cordatus XVIII, enabling various operational synergies to boost the speed and efficiency of both pricings.”

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Seaya Ventures launches its third fund with an initial closing of €85 million, reaching €250 million in assets under management

Seayaventures

  • c.90% of the commitments of the first closing come from investors in Seaya’s
    predecessor vehicles
  • Seaya’s first two funds rank among the top-quartile of their respective vintages
  • Seaya was the first financial investor in Glovo and Cabify, Spain’s first unicorns,  and continues to be the largest financial shareholder in both companies
  • Seaya III has already made its first investment in a European technology company that uses computer vision and artificial intelligence

Madrid, 5 October 2020. Seaya Ventures, Spain’s leading Venture Capital firm, has announced today that its third fund, Seaya Ventures III, has reached a first close of €85 million. With a target size of €125 million, the fund will remain open to new investors for the next few months.

Seaya Ventures III comes to the market only two years after the final closing of the previous fund. Seaya’s first two funds delivered above-market returns, ranking among the top-quartile of their respective vintages.

We are honoured to have our investment thesis validated with nearly 90% of the commitments of the first closing coming from existing Limited Partners (LPs) of our predecessor vehicles,” said Beatriz González, founding partner of Seaya Ventures.

The new fund will follow Seaya’s strategy of investing in outstanding and mission-driven founders. Seaya aims to invest mainly in top Southern Europe tech companies, partnering with companies and contributing to their international expansion. By leveraging its local knowledge with a global ecosystem, Seaya can help companies scale and become regional and global leaders.

Seaya is known for taking significant stakes in companies, becoming the reference investor for founders and providing them with sustained hands-on support. The fund will continue to focus on leading Series A and B rounds, being able to invest up to €20 million per company throughout several rounds. Seaya partners exclusively with companies that target long-term, sustainable growth, which hold themselves to the highest professional and ethical standards.

Seaya views the current Covid crisis as a catalyst for exponential growth in technological innovation as demonstrated by the digital transformation that has taken place in just a few months and that in regular circumstances would have taken years. This strong digital transformation is being reflected in the types of deeptech companies that Seaya III is currently considering for potential investment, which are in sectors ripe for disruption such as healthtech, edtech and fintech.

Seaya’s goal is to partner with the best founders and support them to make their global vision become a reality. Founders that are mission-driven and look for long-term sustainable growth have proven that they are more resilient and have a larger positive impact on society”, said Beatriz González, founding partner of Seaya Ventures.

Through Seaya’s high-conviction investment strategy we become a major shareholder in our companies and we build a strong relationship with the founders, supporting them during their exponential growth, not only by providing capital but also with our know-how and global network”, explained Antonio Giménez de Córdoba, partner of Seaya Ventures.

Since 2013, Seaya has invested in 26 disruptive tech companies that have become leaders in their respective industries, including Cabify and Glovo, Spain’s first two unicorns. Seaya led the first institutional rounds in both companies and remains their largest financial shareholder. Other investments include Savana, a medical technology company accelerating health science by unlocking the clinical value embedded within the Electronic Health Records; Wallbox, a leading designer, manufacturer and distributor of the most advanced smart charging solutions for electric vehicles; and Buguroo, a cybersecurity company that uses data analytics to help digital businesses protect themselves from online and mobile fraud.

Seaya’s aggregate portfolio is currently worth more than €3 billion, after having attracted over €1.2 billion in funding from Europe, USA and Asia, as well as having created 4,500 direct and 240,000 indirect jobs. At present, including the new funds raised, Seaya has €250 million of assets under management.

Seaya III has already completed its first transaction, leading a Series A investment in a European technology company that uses computer vision and artificial intelligence. The new investment will be officially announced in the next few weeks.

About Seaya Ventures

Based in Madrid, Seaya Ventures has been backing the best entrepreneurs and teams in Southern Europe since 2013. Seaya focuses on supporting founders in scaling their businesses, enabling them to become global leaders. For more information visit www.seayaventures.com.

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Eurazeo strengthens its asset management activities with a new organisation meeting the needs of its investors

Eurazeo

Christophe Bavière promoted Senior Managing Partner of Eurazeo and Head of Investment Partners

Paris, 5 October 2020

Eurazeo is a leading global investment company with more than €18.5 billion in assets under management and provides investors with valuable access to investment strategies diversified across asset classes, industry sectors and geographies. Currently, 65% of these assets are directly invested in companies’ equity or real assets. Similarly, the Group’s activities in private debt and secondary transactions make it a European leader in these areas and have seen steady growth for several years.

Underscoring the appeal of its investment strategies to investors, Eurazeo reached new heights with its fundraising bringing in €2.4 billion in 2019. Following a robust first half of this year, with €1.2 billion raised in unfavourable and uncertain market conditions, Eurazeo expects to build on this momentum over the remainder of the year, driven in particular by the success of the Eurazeo Growth III fund. This performance is not only the result of the renewed commitment and confidence of the Group’s long-standing institutional investor partners, but is also driven by Eurazeo’s increasing ability to attract new international partners.

In line with this growth trajectory and in order to offer investors services of the highest standards, Eurazeo today announced that it is strengthening its function dedicated to institutional investors and wealth management structures by bringing together the veteran management teams of Eurazeo and Idinvest. The Group’s teams who focus on maintaining and developing these relationships, are staffed by some 30 investment professionals. They are divided by specialisation, for each geographic region and type of investor (sovereign wealth funds, pension funds, insurance companies, wealth managers, strategic industrial partners, etc.) and cover all market segments seeing rapid growth (venture capital, growth equity, private debt, asset-backed securities, secondary transactions, funds of funds, real assets, and small and mid-cap buyouts).

Under the leadership of Christophe Bavière, appointed as Senior Managing Partner of Eurazeo and Head of Investment Partners, these teams will work to consolidate the Group’s leading position among French investors, increase its market share among international investors, particularly in the United States, Europe, the Middle East and Asia, and further diversify its client portfolio: from retail investors to large sovereign wealth funds, insurance companies and international pension funds.

By strengthening its ability to offer its investors the best possible service, Eurazeo is intensifying the execution of its growth strategy across all its activities, building on its capacity to generate predictable and recurring revenue over the long term, consolidating its international business network to an even greater degree, and reaffirming its ambition to become the benchmark player among investment platforms in Europe.
Christophe Bavière, Senior Managing Partner of Eurazeo, said:
I am very happy with these responsibilities, which confirm the ambitions of our Group. We serve our clients with a range of funds as well as dedicated investment solutions. We also offer them targeted and diversified investment vehicles, which go hand in hand with a robust approach to managing ESG factors.

About Eurazeo
• Eurazeo is a leading global investment company, with a diversified portfolio of €18.5 billion in assets under management, including €12.9 billion from third parties, invested in over 430 companies. With its considerable private equity, real estate and private debt expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering in-depth sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.

• Eurazeo has offices in Paris, New York, São Paulo, Seoul, Shanghai, London, Luxembourg, Frankfurt, Berlin and Madrid.

• Eurazeo is listed on Euronext Paris.
• ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA
EURAZEO
EURAZEO

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Nordic Capital sprints to EUR 6.1 billion Fund X in less than six months in wholly remote capital raise

Nordic Capital

October 01 2020
Nordic Capital sprints to EUR 6.1 billion Fund X in less than six months in wholly remote capital raise Image

 

  • Tenth fund exceeds target of EUR 5 billion, closes at its hard cap with significant excess demand and is the largest fund raised in Nordic Capital’s history
  • Very strong demand from a diversified blue-chip global base of new and returning investors with all due diligence conducted remotely
  • Investors attracted to Nordic Capital’s leadership in its focus sectors, proven value-creation track record, high ESG ratings and resilient portfolio
  • Fund X set to continue successful strategy of focusing on majority investments in non-cyclical growth companies in the Healthcare, Technology & Payments and Financial Services sectors

Nordic Capital today announced the successful final close of Nordic Capital Fund X (“Fund X” or “the Fund”), at EUR 6.1 billion (including GP commitment of 6.5%). The Fund, launched in April 2020, was oversubscribed at its hard cap, and was raised in less than 6 months in a groundbreaking remote capital raise without holding any face-to-face meetings. This is the largest fund that Nordic Capital has raised since its inception in 1989 and surpasses its 2018-vintage Nordic Capital Fund IX which raised EUR 4.3 billion (including GP commitment).

Investors were attracted to Nordic Capital’s leadership, proprietary sourcing methods and proven track record of creating value through business transformation and solid earnings growth in its focus sectors of Healthcare, Technology & Payments, Financial Services and its selective investments in Industrial & Business Services. Nordic Capital’s strategy of focusing on non-cyclical, growth businesses was validated by the strong performance of the existing portfolio since the COVID-19 pandemic started. In addition, Nordic Capital recently received the highest ESG rating from the UNPRI.

Kristoffer Melinder, Managing Partner, Nordic Capital Advisors, said: “The rapid and successful close of our tenth fund is a significant milestone for Nordic Capital. To close at the hard cap in less than six months during the COVID-19 pandemic is a fantastic achievement that highlights the strength of our LP relationships and the considerable confidence that our blue-chip investors have in Nordic Capital. It is also testament to the strength of our team, proven investment strategy, the portfolio performance and Nordic Capital’s track record. We are grateful for the continued support of existing limited partners and delighted to welcome new investors to the Fund.”

Kristoffer Melinder added: “Nordic Capital’s investment strategy is based on finding growth businesses in our focus sectors where we can use our significant operational expertise and financial firepower to create value and, ultimately, excellent returns for our investors. The economic impact of the COVID-19 pandemic will continue to be felt for some time and the most successful fund managers will be those who respond well to emerging trends and market dynamics to leverage new opportunities. Fund X has a strong pipeline of attractive investment opportunities in our chosen sectors across Europe, and globally for Healthcare. The Fund has already signed its first investment in Siteimprove – a leading software company that supports digital accessibility for people with disabilities.”

Fund X attracted investors from across the globe, with investors from every continent including 38% from North America, 27% Europe, 17% from Asia, 15% from the Middle East and 3% from RoW. The investor base comprises a well-diversified mix of institutional investors: public and private pension funds (c. 49%); sovereign wealth funds (c. 16%); fund of funds (c. 13%); financial institutions (11%); and endowments and family offices (c. 10%). The new Fund expands Nordic Capital’s blue-chip investor base with 34% of commitments deriving from new investors. The re-up rate by capital of Fund IX LPs in Fund X is c. 90%. The Fund also drew significant support from Nordic Capital’s own team, as well as portfolio company management teams and industrial advisors.

Pär Norberg, Head of Investor Relations, Nordic Capital Advisors, said: “We are very grateful for the tremendous investor support. We launched this fund in the middle of a global pandemic, which required investors to completely alter their investment processes to enable remote diligence. The success of the fund raise despite these challenges reflects the investors’ considerable confidence in Nordic Capital’s strategy and team.”

Fund X will be invested across Europe, with a mandate for global investment in Healthcare as in the prior Fund and an emerging smaller global mandate also for Technology & Payments businesses.

Nordic Capital’s proprietary sourcing methods have continued to generate a strong deal pipeline despite the pandemic. It has in 2020, announced two new platform acquisitions: Max Matthiessen in May, a leading financial advisor in the Nordic region and Siteimprove in September, a global leader within website experience and digital marketing optimisation. Furthermore, it has supported several transformative portfolio company add-ons and completed two partial exits. Nordic Capital’s current portfolio companies have on average achieved 10% organic employment growth and an 8% increase in annual sales.

The fundraising was led by Nordic Capital’s in-house Investor Relations team, supported by Rede Partners who acted as global placement agent, Transpacific in Asia, Ameris in South America, with Kirkland & Ellis as lead legal counsel, supported by Carey Olsen in Jersey and Arendt in Luxembourg.

Footnote: “Nordic Capital” refers to any, or all, Nordic Capital branded or associated investment vehicles and their associated management entities. Nordic Capital is advised by several non-discretionary sub-advisory entities, any or all of which is referred to as “Nordic Capital Advisors”.


Media contacts:

Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

About Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services and in addition, Industrials & Business Services. Key regions are Europe and globally for Healthcare. Since inception in 1989, Nordic Capital has invested more than EUR 15 billion in over 110 investments. The Nordic Capital vehicles are based in Jersey and Luxembourg. They are advised by several non-discretionary sub-advisory entities based in Sweden, Denmark, Finland, Norway, Germany, the UK and the US, any or all of which are referred to as Nordic Capital Advisors. For further information about Nordic Capital, please visit www.nordiccapital.com

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Vector Acquisition Corporation Announces Closing of $300 Million Initial Public Offering

Vector Capital

SAN FRANCISCO–(BUSINESS WIRE)–Vector Acquisition Corporation (the “Company”), a special purpose acquisition company led by Alex Slusky and formed for the purpose of entering into a combination with one or more businesses, today announced the closing of its initial public offering of 30,000,000 units at a price of $10.00 per unit. Total gross proceeds from the offering were $300 million before deducting underwriting discounts and commissions and other offering expenses payable by the Company.

The units began trading on the Nasdaq Capital Market under the ticker symbol “VACQU” on September 25, 2020. Each unit consists of one Class A ordinary share of the Company and one-third of one warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the Nasdaq Capital Market under the symbols “VACQ” and “VACQW,” respectively.

Deutsche Bank Securities Inc. and BofA Securities, Inc. acted as joint book-running managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 4,500,000 units at the initial public offering price to cover over-allotments, if any.

The offering was made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained from: Deutsche Bank Securities Inc., Attention: Prospectus Department, 60 Wall Street, New York, New York 10005, telephone: 800-503-4611 or email: prospectus.cpdg@db.com; or BofA Securities, Inc., Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001 or email: dg.prospectus_request@bofa.com.

A registration statement relating to the securities became effective on September 24, 2020 in accordance with Section 8(a) of the Securities Act of 1933, as amended. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Cautionary Note Concerning Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of the net proceeds. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the Securities and Exchange Commission (“SEC”). Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contacts

Nathaniel Garnick / Grace Cartwright
Gasthalter & Co.
(212) 257-4170

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Antares Capital Announces Final Close of Inaugural Senior Loan Fund

Antares

CHICAGO–(BUSINESS WIRE)–Antares Capital Advisers LLC, a subsidiary of Antares Capital LP (together with its parent companies, “Antares”) announced the final closing of its inaugural Senior Loan Fund (“SLF”).

“The closing of our inaugural fund is a significant milestone in continuing to diversify our investor base, and the ability to do so during the current market environment is a clear testament to the strength of the Antares brand”

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The fund, which launched in December 2019, closed on September 14th with approximately $3 billion of asset purchasing power, exceeding its initial target of $1.5 billion. Capital was raised across a diversified set of institutional investors.

The investment objective of the SLF is to build a diverse portfolio of sponsor-backed senior secured loans to U.S. and Canadian borrowers. Investors in the fund are primarily public and private pensions, insurance companies, asset managers and banks located predominantly in the U.S., Canada, Asia and the Middle East.

“The closing of our inaugural fund is a significant milestone in continuing to diversify our investor base, and the ability to do so during the current market environment is a clear testament to the strength of the Antares brand,” said Vivek Mathew, senior managing director and head of asset management. “Investors appreciate that Antares’ market position allows us to be highly selective in the opportunities in which we invest. Also, Antares has implemented a variety of measures to demonstrate alignment of interests with our investors, and ultimately when markets turn, we have a track record of strong performance through market cycles.”

“COVID-19 has been a stress test for our asset class, and while the story is not fully written yet, it appears that middle market private debt will perform well,” said David Brackett, CEO of Antares. “As a result, we anticipate further growth in our asset management platform. As a firm we recently recognized the five-year anniversary of our partnership with CPPIB Credit Investments Inc. During this time we are proud to have continued to build upon our industry-leading platform targeting private equity-owned middle market companies.”

Antares Capital Advisers LLC is the registered investment adviser arm of Antares. Antares has leveraged its credit expertise and investor relationships through Antares Capital Advisers LLC to build a platform that complements its broader origination capabilities.

About Antares

With approximately $27 billion of capital under management and administration as of December 31, 2019, Antares is a private debt credit manager and leading provider of financing solutions for middle-market private equity-backed transactions. In 2019, Antares issued approximately $17 billion in financing commitments to borrowers through its robust suite of products including first lien revolvers, term loans and delayed draw term loans, 2nd lien term loans, unitranche facilities and equity investments. Antares’ world-class capital markets experts hold relationships with more than 400 banks and institutional investors allowing the firm to structure, distribute and trade syndicated loans on behalf of its customers. Since its founding in 1996, Antares has been recognized by industry organizations as a leading provider of middle market private debt. The company maintains offices in Atlanta, Chicago, Los Angeles, New York and Toronto. Visit Antares at www.antares.com or follow the company on LinkedIn at http://www.linkedin.com/company/antares-capital-lp. Antares Capital LP is a subsidiary of Antares Holdings LP.

Contacts

Antares Capital
Carol Ann Wharton
475-266-8053
carolann.wharton@antares.com

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