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Angelo Gordon’s Twin Brook Capital Partners Commits Over $3.3B to Private Equity-backed Healthcare Transactions

January 09, 2020, 09:10 AM
Filed Under: Healthcare

Twin Brook Capital Partners, the middle market direct lending subsidiary of Angelo Gordon, announced that it has committed over $3.3 billion to private equity sponsors in support of healthcare transactions, including over $1.3 billion last year alone. In 2019, Twin Brook completed 24 healthcare transactions across 14 subsectors, bringing the Firm’s total number of healthcare transactions closed to more than 80 since inception.

Twin Brook served as lead agent on all the healthcare transactions it supported in 2019, which included 14 new platform financings and 10 add-on financings.

"We achieved increased momentum in 2019, putting over $1.3 billion to work in support of our private equity clients’ investments across a broad range of healthcare subsectors. In addition, we successfully closed our twentieth physician practice management platform and further enhanced our team’s healthcare expertise with the addition of Tim Wentink," said Senior Partner Faraaz Kamran, who focuses on Twin Brook’s healthcare lending business. "Our private equity sponsor clients continue to be very active in this space, and we look forward to providing the capital needed to support their transactions in 2020 and beyond."

Twin Brook focuses on loans to private equity-owned companies with EBITDA between $3 million and $50 million, with an emphasis on companies with $25 million of EBITDA and below. The Firm targets senior financing opportunities up to $400 million with hold sizes across the Twin Brook platform ranging from $25 million up to $150 million. Since inception in the fourth quarter of 2014, Twin Brook has closed over 425 transactions and provided total arranged commitments of approximately $12.5 billion.

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