MidCap Financial, a credit solutions firm focused on serving the middle market, has raised more than USD800 million of new equity from a diverse group of global investors that included Apollo clients, including Athene, as well as pensions, sovereign wealth funds and other leading institutions
Proceeds from the raise will be used to fund business growth and for general corporate purposes. MidCap primarily focuses on senior debt solutions to companies across all industries, and as of 31 December, 2020 has provided management or other services for approximately USD29.8 billion of commitments, of which USD5 billion is managed by MidCap Financial Services Capital Management LLC, a registered investment officer.
Steve Curwin, CEO of MidCap Financial Services, says: “We are gratified by the support of existing and new equity investors, and believe these commitments will enhance our competitive advantages in the market. We view completion of the raise as a testament to the performance of MidCap over the last decade and, importantly, through the current pandemic period.”
Source: Private Equity Wire
