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Veteran Investor Damien Dwin Launches Lafayette Square with $100 Million Financing from Morgan Stanley
Black American investor and philanthropist, supported by a diverse, rapidly growing team, will drive change in housing, jobs, and financial inclusion
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NEW YORK, Jan. 12, 2021 /PRNewswire/ Damien Dwin, a Black American businessman, philanthropist and veteran investor, is pleased to announce the official launch of Lafayette Square Holding Company ( Lafayette Square ), an impact-driven, minority owned investment platform. The Firm confronts critical societal challenges with capital and services in three core areas: housing, jobs, and financial inclusion. Sharing in this vision, Morgan Stanley has provided $100 million of financing to launch Lafayette Square. Lafayette Square is minority owned with employees owning over 90% of its equity. In addition to employees, other equityholders include the Capricorn Investment Group s
Quintet of debt investors now control company
The parent company of American Addiction Centers has concluded its bankruptcy reorganization, during which is shed about $500 million of debt.
The reconstituted AAC runs 26 facilities in eight states and employs more than 2,000 people. It is, as it did in the runup to
its Chapter 11 filing, being led by CEO Andrew McWilliams, who took the helm from founder Michael Cartwright early this year.
“We are thankful to the court and our senior secured lenders for recognizing the critical need for our services both now and in the future,” McWilliams said in a statement. “We are excited to be positioned for growth as the first company to truly transform the treatment of substance abuse.”