BLACKROCK TCP CAPITAL CORP SANTA MONICA, Calif., Jan. 25, 2018 /PRNewswire/ -- Tennenbaum Capital Partners, LLC ("TCP" or the "Firm"), a leading alternative investment management firm, announced today the closing of its $300 million TCP Rainier CLO. This is TCP's third CLO issuance in the past 12 months. The TCP Rainier CLO issue follows its TCP Waterman CLO refinancing and TCP Whitney CLO issuance. In aggregate, TCP's middle-market CLO platform is now approximately $1 billion.
TCP's CLO platform provides U.S. and non-U.S. investors with access to the attractive and growing middle-market leveraged loan asset class and builds on TCP's successful track record of investing in performing loans of U.S. middle-market companies. The CLO platform focuses principally on first-lien loans.
"Since our Firm's first institutional fund in 1999, TCP has been an active strategic financing partner to middle-market companies throughout the U.S.," said Michael E. Leitner, Managing Partner of TCP. "Our middle-market CLO platform provides us with an additional source of capital to address the needs of first-lien issuers seeking moderate levels of leverage to meet their corporate debt requirements. Together with our publicly-traded business development company, TCP Capital Corp., and other long-term private capital vehicles, we are well positioned to provide a vast array of credit solutions to meet the needs of corporate issuers across a wide variety of industry sectors."
"We are pleased with the demand for our CLOs and appreciate the confidence and trust of our investors and the assistance and expertise of our advisors," Leitner continued. Natixis acted as the placement agent for the TCP Waterman CLO and TCP Whitney CLO. Dechert served as legal counsel for all three CLO vehicles.
About Tennenbaum Capital Partners, LLC
Tennenbaum Capital Partners, LLC ("TCP") is an alternative investment management firm with approximately $9 billion of committed capital focused on direct lending and special situations for middle-market companies. TCP manages funds and accounts on behalf of global institutional investors. It also manages a publicly-traded business development company, TCP Capital Corp. (NASDAQ: TCPC). Since its founding in 1999, TCP has invested approximately $19 billion in over 500 companies. TCP is headquartered in Los Angeles with additional offices in Atlanta, New York and San Francisco. For more information, please visit: www.tennenbaumcapital.com and www.tcpcapital.com.
About Natixis
Natixis is the international corporate and investment banking, asset management, insurance and financial services arm of Groupe BPCE, the 2nd-largest banking group in France with 31.2 million clients spread over two retail banking networks, Banque Populaire and Caisse d'Epargne. With more than 17,000 employees, Natixis has a number of areas of expertise that are organized into four main business lines: Asset & Wealth Management, Corporate & Investment Banking, Insurance and Specialized Financial Services. A global player, Natixis has its own client base of companies, financial institutions and institutional investors as well as the client base of individuals, professionals and small and medium-size businesses of Groupe BPCE's banking networks. For more information, please visit www.natixis.com.
About Dechert
Dechert is a global law firm focused on sectors with the greatest complexities and highest regulatory demands. We deliver practical commercial insight and judgment to our clients' most important matters. Nothing stands in the way of giving clients the best of the firm's entrepreneurial energy and seamless collaboration in a way that is distinctively Dechert. For more information, please visit: www.dechert.com.
View original content with multimedia:http://www.prnewswire.com/news-releases/tennenbaum-capital-partners-announces-closing-of-300-million-clo-300587832.html
SOURCE Tennenbaum Capital Partners, LLC
