Antares has provided a credit facility to back GTCR‘s acquisitions of Ultimus Fund Solutions and The Gemini Companies. No financial terms were disclosed. Both Ultimus and Gemini provide middle and back-office solutions that help fund managers and investors. Antares was the lead left arranger and administrative agent on the financing.
CHICAGO–(BUSINESS WIRE)–Antares announced today that it served as lead left arranger and is acting as administrative agent for a senior secured credit facility to support the acquisitions of Ultimus Fund Solutions (“Ultimus”) and The Gemini Companies (“Gemini) by GTCR.
Ultimus and Gemini provide comprehensive and customized middle and back-office solutions to fund managers and investors. Upon acquisition by GTCR, Ultimus and Gemini will combine in a strategic merger to form the leading independent provider of full service fund administration, accounting and investor solutions to traditional and alternative fund managers. On behalf of their customers, the combined companies service approximately $150 billion of assets under administration and over 840 total funds. The combined business will operate in the market under the Ultimus Fund Solutions name going forward.
“Antares knows the fund administration space well and was able to commit quickly and provide the optimal financing solution to meet the criteria of the transaction,” said Jim Bonetti, managing director at GTCR. “We’ve worked with Antares for many years and know we can rely on their flexibility and ability to execute.”
“We’re pleased to support GTCR and the teams at Ultimus and Gemini on this latest evolution of their growth,” said Doug Koch, managing director at Antares. “We believe bringing together Ultimus and Gemini will allow for increased innovation and delivery capabilities for their combined customer base while also enhancing growth potential for the combined company.”
With approximately $24 billion of capital under management and administration as of December 31, 2018, Antares is a private debt credit manager and leading provider of financing solutions for middle-market private equity-backed transactions. In 2018, Antares issued nearly $25 billion in financing commitments to borrowers through its robust suite of products including first lien revolvers, term loans and delayed draw term loans, 2nd lien term loans, unitranche facilities and equity investments. Antares world-class capital markets experts hold relationships with over 400 banks and institutional investors allowing the firm to structure, distribute and trade syndicated loans on behalf of its customers. Since its founding in 1996, Antares has been recognized by industry organizations as a leading provider of middle market private debt, most recently being named the 2018 Lender of the Year by ACG New York. The company maintains offices in Atlanta, Chicago, Los Angeles, New York, Norwalk, CT and Toronto. Visit Antares at www.antares.com or follow the company on Twitter at www.twitter.com/antarescapital. Antares Capital is a subsidiary of Antares Holdings LP., collectively (“Antares”).