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Amid reduced M&A activity, U.S. middle-market borrowers and investors in asset-backed securities are trying to reset and figure out where the right valuations levels are, says Sengal Selassie, CEO of Brightwood Capital Advisors, a lender and issuer of CLOs.
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Brightwood Capital Prices $427 Million Financing
December 18, 2020 GMT
NEW YORK, Dec. 18, 2020 /PRNewswire/ Brightwood Capital Advisors, a leading private credit firm, today announced it has priced Brightwood Capital MM CLO 2020-1, LLC, a $426.5M collateralized loan obligation arranged by Barclays in support of the firm’s financing strategy for its middle market loan activities.
The vehicle is backed by loans the firm has originated for Brightwood Capital Fund IV and will provide that fund with attractive, low-cost, non-recourse financing to enhance its ability to deliver strong risk-adjusted returns for investors.
Brightwood Capital Prices $427 Million Financing
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NEW YORK, Dec. 18, 2020 /PRNewswire/ Brightwood Capital Advisors, a leading private credit firm, today announced it has priced Brightwood Capital MM CLO 2020-1, LLC, a $426.5M collateralized loan obligation arranged by Barclays in support of the firm s financing strategy for its middle market loan activities.
The vehicle is backed by loans the firm has originated for Brightwood Capital Fund IV and will provide that fund with attractive, low-cost, non-recourse financing to enhance its ability to deliver strong risk-adjusted returns for investors. We were pleased to see such robust investor interest in this transaction, said Sengal Selassie, Managing Partner and Chief Investment Officer of Brightwood. This financing adds a number of new relationships to our current roster of lending partners, demonstrates the market s confidence in Brightwood s capabilities, and accele