Sign up for free newsletter



StoneMor Partners secures USD130m commitment from AIM

American Infrastructure MLP Funds (AIM), a private investment firm, has committed up to USD130 million of capital to StoneMor Partners, including acquiring an indirect majority interest in the company’s general partner.

As part of the commitment, AIM will purchase USD55 million of four-year, non-cash common units to fund near term acquisitions, and will make available up to USD50 million of additional capital contributions to fund growth.  
AIM invests in companies that qualify as master limited partnerships and manages over USD1.5 billion in assets.  
"This investment commitment gives us a well-capitalised general partner," says Lawrence Miller, StoneMor's president and chief executive officer. "A strong general partner with considerable financial backing provides us with opportunities and a more flexible capital structure that will enable us to continue to expand our footprint and accelerate our growth."
AIM's investment in the general partner will be managed by Bob Hellman, Jr, its founder and CEO, who is also an existing director of the general partner. Hellman also serves as trustee of a trust for the sole benefit of an AIM affiliated entity. 

Subscribe to free daily newsletter
C# Software Developer - Hedge Fund

Wed, 25 Nov 2015 00:00:00 GMT

Lead Analytics Strat/Quant Developer (C++/Python)

Wed, 25 Nov 2015 00:00:00 GMT

Java Developer – Java/Core Java/Python/SQL

Wed, 25 Nov 2015 00:00:00 GMT

23 hours 59 min from now - Frankfurt
3 days 23 hours from now - Hong Kong
3 days 23 hours from now - Boston
3 days 23 hours from now - London
5 days 23 hours from now - London
other gfm publications