Private credit lenders including HPS Investment Partners, Neuberger Berman, and Stone Point Capital, are providing a $574m debt package to help finance Thomas H Lee Partners’ deal to acquire a majority stake in Standish Management, according to a report by Bloomberg.
The report cites unnamed sources with knowledge of the matter as revealing that the debt consists of a $459m first-lien term loan, a $50m delayed-draw term loan, and a $65m revolving credit facility.
Private equity firm THL agreed a deal in July to buy a majority stake in Standish Management, a provider of fund administration services, at a valuation of around $1.6bn.
