Sign up for free newsletter

 

Handshake and money

Ares Capital acquires diversified middle market loan portfolio for USD319m

Fri, 27/12/2013 - 10:35

Ares Capital has acquired a diversified middle-market corporate loan portfolio managed by a global banking institution for approximately USD319m.

The portfolio is primarily comprised of first lien senior loans, and to a lesser extent, second lien loans and small equity co-investments.
 
The portfolio is comprised of 32 investments in 23 portfolio companies in industries that are generally similar to those in Ares Capital’s portfolio.
 
“As the banking industry faces increasing regulatory restrictions, we are seeing more opportunities such as this to purchase high-quality, middle-market loan portfolios from financial institutions where we see potential to create value,” says Michael Arougheti, chief executive officer of Ares Capital. “We were already familiar with many of the companies represented in this portfolio and, in addition to the financial merits of the transaction, we believe we can develop mutually beneficial long-term relationships with many of these companies and their sponsors.”


Subscribe to free daily newsletter
latestjobs
Fixed Income Dealer, London

Wed, 04 Mar 2015 00:00:00 GMT

SQL Developer

Wed, 04 Mar 2015 00:00:00 GMT

IT Project Manager – Global Markets

Wed, 04 Mar 2015 00:00:00 GMT

specialreports