The Riverside Company, a US private equity firm focused on making control and non-control investments in growing businesses valued at up to $400m, is considering strategy options for direct lending arm Riverside Credit Solutions, including a sale of the business, according to a report by Bloomberg.
The report cites unnamed people with knowledge of the matter as confirming that the firm is negotiating with potential buyers of the unit, which provides flexible cash flow-based financing solutions to both private equity sponsored and non-sponsored companies in the smaller end of the middle market.
If a sale is agreed, the deal would continue the recent trend of asset managers and insurance companies seeking to broaden their exposure to firms involved in private credit.
According to another Bloomberg report last week, Eldridge Industries is among final bidders in talks to acquire European firm Hayfin Capital Management, while in March, Dai-ichi Life Holdings agreed to buy a 19.9% minority stake in Canyon Partners.
