CHICAGO--(BUSINESS WIRE)--Antares Capital LP and Antares Holdings LP (collectively, “Antares”) and LStar Capital (“LStar”), the credit affiliate of Lone Star Funds announced today 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.”
About Antares Capital
Antares Capital is the leading provider of financing solutions for middle-market, private equity-backed transactions with offices in Atlanta, Chicago, Los Angeles, New York, Norwalk (Connecticut) and Toronto. Antares has provided more than $120 billion in financing over the past five years, and was named 2014 lender of the Year by Mergers & Acquisitions. Antares also was recognized by Private Debt Investor and Private Equity International as 2013 Lender of the Year, North America and Mid-Cap Lender of the Year, North America, respectively. Visit us at www.antares.com or follow Antares Capital on Twitter at https.twitter.com/antarescapital.
About LStar Capital
LStar Capital is the credit affiliate of Lone Star Funds, a global private equity firm that invests in real estate, equity, credit and other financial assets. Since the establishment of its first fund in 1995, Lone Star has organized fifteen private equity funds with aggregate capital commitments totaling over $60 billion. Visit us at www.lstarcap.com