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Antares, LStar Capital in Unitranche JV, Offer Up to $350MM in Single Transaction

January 07, 2016, 07:26 AM
Filed Under: Industry News

Antares Capital LP and Antares Holdings LP (collectively, “Antares”) and LStar Capital (“LStar”), the credit affiliate of Lone Star Funds announced that they will jointly provide access to unitranche loans for middle market borrowers through the Middle Market Growth Program (or ”MMGP”).

Originally launched in early 2014, MMGP has been highly successful having closed 11 unitranche financings for 8 private equity sponsors. Existing MMGP borrowers will continue to be part of this venture. GE Capital, an original participant in MMGP, will no longer participate in the program.

With the ongoing support of Antares and LStar for its growth, MMGP will continue providing private equity sponsors and borrowers with access to first lien unitranche loans. MMGP does not require rating agency meetings or a syndication process, giving borrowers flexible capital with speed and certainty. MMGP has the ability to provide up to $350 million in financing for a single transaction.

“MMGP builds on our commitment to offer clients flexible financing options in a consistent, reliable manner,” said Timothy Lyne, senior managing director of Antares Capital. “We are very pleased to be in the market with MMGP and executing transactions with the excellent team at LStar.”

“Borrowers appreciate having a one-stop source of financing,” said Brian Gerson, managing director of LStar Capital. “Together with Antares, our combined resources bring a highly differentiated level of industry insight, creativity and certainty of execution to every transaction.”

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