Gordon Brothers Group and BlackRock Kelso Capital Corporation Launch Gordon Brothers Finance Company
NEW YORK - October 31, 2014 - BlackRock Kelso Capital Corporation (NASDAQ:BKCC) ("BlackRock Kelso") today announced that it has completed a transaction with Gordon Brothers Group to launch Gordon Brothers Finance Company ("GBFC"). GBFC will be a majority-owned portfolio company of BlackRock Kelso, with Gordon Brothers Group owning a minority interest. As part of the transaction, GBFC acquired from GB Credit Partners, LLC its asset-based lending business as well as a portfolio of approximately $269.0 million of loans. GB Credit Partners, LLC is an affiliate of Gordon Brothers Group. .
As a portfolio company of BlackRock Kelso, GBFC will continue its focus on asset-based lending. In addition, GBFC and Gordon Brothers Group have entered into a long-term, exclusive arrangement to continue to provide GBFC with access to the deep industry knowledge and valuation expertise of the entire Gordon Brothers Group platform.
As of November 1, 2014, Gordon Brothers Group partnered with BlackRock Kelso Capital Corporation to form Gordon Brothers Finance Company to manage its debt financing business. The majority of loans in the GB Credit Partners portfolio were transferred to Gordon Brothers Finance Company as part of this transaction. GB Credit Partners continues to manage a select number of legacy debt investments. For further information on these legacy investments, please contact firstname.lastname@example.org.
The Private Equity Group of GB Merchant Partners, the investment management affiliate of Gordon Brothers Group, has reached the end of its investment period and is currently in the process of realizing the remaining investments of the fund. For investor inquiries, please proceed to the investor login.