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East West Bank Agents New $80MM Line of Credit for Star Mountain Capital Fund

July 31, 2020, 08:05 AM
Filed Under: Industry News
Related: East West Bank

East West Bank and one participating lender closed on an $80 million capital call line of credit for Star Mountain Diversified Credit Income Fund III, LP (“SM3”), a fund that invests in small and medium-sized private businesses in the United States. SM3 is managed by Star Mountain Fund Management, LLC, a New York based private asset management firm with local offices across the US and approximately $1.3B in assets under management. East West Bank has been a lender to Star Mountain funds for over 5 years and is pleased to be a loyal supporter of their continued growth.  

The new facility provides general working capital needs and to bridge timing gaps between new investments made by the fund and proceeds received from a capital call or the liquidation of an investment.

“East West Bank is pleased to lead this credit facility for Star Mountain Capital whose team includes seasoned executives who have managed and led over $100 billion in assets and investments over their careers. We are proud of our long-term partnership and Star Mountain Capital’s growth over the years, including them being recognized as one of the Best Places to Work by both Crain’s and Pensions & Investments. East West Bank looks forward to continue supporting the growth of Star Mountain Capital and their fund platforms” said Leslie Smith, Managing Director of East West Bank.

“Having closed approximately 100 direct credit / equity and secondary / fund investments, Star Mountain is actively investing in and supporting what we believe to be high quality private businesses across our direct lending, private equity and secondary fund investment strategies.  East West Bank has continued to be a customer-centric and long-term focused partner that we are delighted to continue growing with”, said Brett Hickey, Founder & CEO of Star Mountain Capital.

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