Great American Capital Partners Announces Closing of GACP II, L.P.
Great American Capital Partners
Jun. 06, 2018
LOS ANGELES, June 06, 2018 (GLOBE NEWSWIRE) -- Great American Capital Partners, LLC ("GACP"), a subsidiary of B. Riley Capital Management, LLC, a SEC Registered Investment Advisor and wholly-owned subsidiary of B. Riley Financial, Inc., is pleased to announce the final closing of GACP II, L.P. (“Fund”). As of June 1, 2018, the Fund’s investor commitments totaled $321 million. In total, the Fund’s strategy has capital commitments of over $700 million between GACP I, GACP II and separately managed accounts.
The Fund was oversubscribed and received strong support from a diverse range of institutional investors, including several asset management firms, insurance and healthcare entities, and family offices. Similar to the prior fund, GACP I, L.P., the Fund’s investment objectives have focused on generating attractive risk-adjusted returns with downside protection through non-traditional investments primarily in asset-based senior secured loans to middle market public and private companies.
“We are pleased to see that GACP II received a positive reception from investors amidst a competitive fund-raising environment in the private credit space. We believe our strategy is differentiated by our proprietary origination capabilities and execution expertise combined with our unique sourcing network of over 230 professionals in business development roles across the B Riley Financial platform,” said John Ahn, President of GACP.
“Since mid-February 2018, the Fund has closed on six loans with a total of approximately $178 million in principal balance, highlighting the large opportunity set of the lower/middle market as we continue to see abundant deal flow and our pipeline remains robust,” adds Robert (“Bob”) Louzan, Managing Director.
About Great American Capital Partners, LLC Great American Capital Partners (GACP) originates and underwrites senior secured loans across a wide array of industries and is dedicated to providing opportunistic and responsive capital to the underserved middle market.
About B. Riley Financial, Inc. B. Riley Financial, Inc. (NASDAQ:RILY), through its subsidiaries, provides collaborative financial services and solutions to the capital raising and financial advisory needs of public and private companies and high net worth individuals. The company operates through several wholly-owned subsidiaries, including B. Riley FBR, Inc., Wunderlich Securities, Inc., Great American Group, LLC, B. Riley Capital Management, LLC (which includes B. Riley Asset Management, B. Riley Wealth Management, and Great American Capital Partners, LLC ) and B. Riley Principal Investments, LLC, a group that makes proprietary investments in other businesses, such as the acquisition of United Online, Inc.