Who We Are

We manage approximately $14.5 billion of capital that is available to support our borrowers’ financing needs for acquisitions, leveraged buyouts, recapitalizations, refinancings and growth investments. We generally underwrite senior secured unitranche debt but have the flexibility to invest across the capital structure to support our clients’ unique needs. Our fully committed financing solutions and efficient transaction process provide the certainty and flexibility required in today’s competitive M&A market.

We have a demonstrated track record of consistently producing attractive, risk-adjusted returns throughout low-rate environments. Our investors and portfolio companies benefit from the platform’s scale, fund financing structures and a seasoned, cohesive investment team.

Investment Strategy Overview
  • Primarily invest in directly originated senior secured loans
     
  • Investee profile: sponsor-backed companies in the US middle market
     
  • Flexibility to invest in junior debt, structured equity and equity co-investments
Experienced & Cohesive Team
  • 14 managing directors with an average of 23 years of experience

  • Select team members working together since 2004

  • Current team includes 60+ professionals
Scaled Platform
  • Established middle market private credit and equity asset manager

  • $21.7 billion in gross commitments across 500+ transactions

  • Current capital available for investment totals $14.5 billion
Compelling Investment Opportunity
  • Incremental yield

  • Risk mitigation

  • Floating-rate exposure and diversification
Strong Track Record
  • Attractive risk-adjusted returns 

  • Meeting performance targets

  • Consistent cash distributions
Effective Fund Structures & Appropriate Portfolio Financing
  • Highly diversified portfolios of primarily senior secured loans

  • Stable and efficient structured portfolio financing

  • Attractive terms

Value-Added Financing Solutions

We offer the right mix of capital flexibility and experience to partner with middle market companies. Our customized financing solutions and efficient transaction process provide greater certainty for middle market companies.

  • Dedicated Focus: Focus on direct lending in the core US middle market

  • Deep Sector Expertise: Select sectors of focus, including software, healthcare, digital infrastructure & services, franchising

  • Sponsor-Centric: Deal flow historically driven from sponsor-backed borrowers; proven ability to lend to non-sponsor companies

  • Capital Structure Flexibility: Ability to participate throughout the capital structure, albeit with a first-lien bias

  • Valuation-Based Philosophy: Investment decisions supported by robust fundamental and valuation analysis

  • Asset Selection Mentality: Focus on executing transactions with the strongest risk-adjusted returns

 

Transactions by Industry

Enterprise Software
Tech-Enabled Services
Digital Infrastructure and Services
Healthcare
Franchising
Business Services

Our Perspectives

Opportunities Remain for Well-Positioned Lenders
September 2022
Technology Set to Weather the Storm
June 2022
Middle Market Direct Lending’s Illiquidity Premium Shines in Current Market
June 2021
COVID-19: The Growth Opportunities and Challenges
September 2020
The Risks and Rewards of Targeting Tech
September 2019