Jun
17

Ares Forms New Middle-market Lending Venture With Varagon, Backed By AIG

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Ares Capital Corporation has named Varagon Capital Partners, which is backed by insurer AIG, as its new partner for middle-market lending.

The new joint venture, called the SDLP (Senior Secured Loan Program), will originate and hold first-lien loans, including stretch senior and unitranche loans, of up to $300 million, a joint Ares-Varagon statement today said.

“The SDLP will work to follow on with the success that Ares Capital enjoyed with its previous senior loan joint venture, the Senior Secured Loan Program (SSLP), with GE Capital… The program will provide sponsors and management teams with continued access to flexible capital with speed and certainty and without syndication requirements,” the statement said…

Ares Forms New Middle-market Lending Venture With Varagon, Backed By AIG

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