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Capital One Leads $190MM Financing to Support Stone Point Capital’s Recap of Situs

March 21, 2018, 07:10 AM
Filed Under: Technology

Capital One N.A. Financial Sponsors Group announced that it led a $190 million senior secured credit facility to support the recapitalization of Situs Holdings (Situs) by Stone Point Capital (SPC). Capital One acted as joint lead arranger and administrative agent for the transaction.

“Capital One was wonderfully responsive and provided total support through every phase of the transaction,” said Andrew Reutter, Principal at SPC. “They worked quickly and were able to provide us with the certainty of execution we needed.”

“We’ve worked with Capital One before, so it was no surprise to us that they were able to provide the competitive financing and strategic counsel we needed,” said Situs CEO Steve Powel. “It’s clear they understand our business and our goals.”

Situs is a global provider of strategic business and technology solutions to the real estate industry.  Situs has been involved in more than $1 trillion of real estate debt and equity deals across the U.S. Europe and Asia, and has acquired a number of platforms. Stone Point Capital LLC is a financial services-focused private equity firm based in Greenwich, CT. The firm has raised and managed seven private equity funds – the Trident Funds – with aggregate committed capital of approximately $19 billion.

“Capital One is thrilled to lead this transaction, working with both parties to bring this financing to fruition,” said Bob McCarrick, Head of Middle Market Banking at Capital One. “We’re especially pleased to demonstrate our ability to grow alongside our clients.”


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