B. Riley Financial Inc. said Monday they have formed Great American Capital Partners LLC. Corporate Capital Trust Inc., a business development company advised by CNL Financial Advisors Company and KKR Credit Advisors LLC, provided an anchor investment to Great American Capital. GACP will provide asset-based debt to lower middle market companies.
LOS ANGELES, April 20, 2015 /PRNewswire/ — B. Riley Financial, Inc. (OTCQB: RILY), a provider of diversified financial and business advisory services, announced today the formation of Great American Capital Partners, LLC (GACP) with an anchor investment from Corporate Capital Trust, Inc., a business development company advised by CNL Financial Advisors Company and KKR Credit Advisors (US) LLC.
GACP will focus on providing asset-based debt opportunities targeting lower middle market companies. It will utilize the wide array of diversified financial and business advisory services provided by the B. Riley Financial platform, which includes a network of over 200 finance professionals for proprietary deal flow sourcing and in-house valuation and appraisals expertise. GACP is led by John Ahn, President, and Stuart Armstrong, Chief Investment Officer.
“GACP will provide responsive debt capital to support the underserved middle market with non-traditional and opportunistic capital by leveraging B. Riley Financial’s unparalleled origination platform to source proprietary transaction opportunities,” said John Ahn, President of GACP. “Additionally, our affiliate, Great American Group, gives us unmatched access to in-house, market leading appraisal and valuation expertise. This insight into asset and collateral values, combined with B. Riley & Co.’s award winning equity research and capital market capabilities, will enable GACP to provide significant flexibility in lending structures.”
“We are pleased to partner with GACP and B. Riley Financial to expand their asset-based lending platform. The GACP team has developed a strong track record of originating complex asset-based loans. The alignment with GACP complements our focus to leverage proprietary resources to further build and execute on opportunities within the credit space,” noted Dev Gopalan, Director and Head of U.S. Private Credit for KKR.
“We believe there’s tremendous opportunity to grow our asset management business further,” added Bryant Riley, Chairman and CEO of B. Riley Financial, Inc. “The addition of GACP, which includes a key investment from KKR’s Credit business, broadens B. Riley Financial’s robust financial service offerings and augments our goal of providing truly tailored and collaborative financial solutions.”
About Great American Capital Partners, LLC
Great American Capital Partners provides senior secured loans and second lien secured loan facilities to middle market public and private U.S. companies.
Great American Capital Partners, LLC is part of B. Riley Financial, Inc. (OTCQB: RILY) which provides collaborative financial services and solutions through several subsidiaries, including: B. Riley & Co., LLC, a leading full service investment bank providing corporate finance, research, and sales & trading to corporate, institutional and high net worth individual clients; Great American Group, LLC, a leading provider of advisory and valuation services, asset disposition and auction solutions, and commercial lending services; B. Riley Asset Management, LLC, a provider of investment products to institutional and high net worth investors, and MK Capital Advisors, LLC a multi-family office practice and wealth management firm focused on the needs of ultra-high net worth individuals and families. B. Riley Financial, Inc. is headquartered in Los Angeles with offices in major financial markets throughout the United States and Europe. For more information on B. Riley Financial, Inc. please visit www.brileyfin.com.
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners’ capital and brings opportunities to others through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE: KKR), please visit KKR’s website at www.kkr.com.