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Monroe Capital Supports Acquisition of Purshe Kaplan Sterling by Oak Spring Holdings and Wentworth

December 06, 2017, 07:50 AM
Filed Under: Investor Services

Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on the funding of a $43.5 senior credit facility to support the acquisition of Purshe Kaplan Sterling, Inc. (PKS) by Oak Spring Holdings and Wentworth Management Services LLC.
Based in Albany, New York, PKS is a full-service broker/dealer and financial services firm. Founded in 1993, the company has grown to over 440 offices and more than 1,200 Registered Representatives. PKS is registered with the U.S. Securities and Exchange Commission and is a member of FINRA and the Municipal Securities Rulemaking Board.

Morrison & Foerster represented Wentworth Management Services LLC in the deal. Wentworth is a holding company that acts as a long-term owner and operating partner for broker-dealers and other firms in the independent wealth management channel. The partnership between Wentworth and PKS will deliver additional balance sheet capabilities and human capital enhancements to PKS, and support future growth activities for the firm.

The MoFo team was led by corporate associate Dario de Martino (New York), and included corporate associate Stephanie Ference (New York), with regulatory advice provided by of counsel Hillel Cohn (Los Angeles), and partners Jay Baris (New York) and Mark McDonald (Los Angeles). Compensation and benefits advice was provided by partner Domnick Bozzetti (New York) and of counsel Amanda Hines Gold (San Francisco). Employment and labor advice was provided by partner Chris Lyon (Palo Alto), and associate Nicole Elemen (Palo Alto). New York partner Spencer Klein, co-chair of the firm’s global M+A Group, also provided valuable advice.


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