Capital One has led a $190 million senior secured credit facility to support Stone Point Capital’s recapitalization of Situs Holdings, a provider of strategic business and technology solutions for the real estate industry. Capital One was the joint lead arranger and administrative agent for the transaction.
New York, NY (March 20, 2018) –Capital One N.A. Financial Sponsors Group announced today that it led a $190 million senior secured credit facility to support the recapitalization of Situs Holdings (“Situs”) by Stone Point Capital (“SPC”). Capital One acted as joint lead arranger and administrative agent for the transaction.
“Capital One was wonderfully responsive and provided total support through every phase of the transaction,” said Andrew Reutter, Principal at SPC. “They worked quickly and were able to provide us with the certainty of execution we needed.”
“We’ve worked with Capital One before, so it was no surprise to us that they were able to provide the competitive financing and strategic counsel we needed,” said Situs CEO Steve Powel. “It’s clear they understand our business and our goals.”
Situs is a global provider of strategic business and technology solutions to the real estate industry. Situs has been involved in more than $1 trillion of real estate debt and equity deals across the U.S. Europe and Asia, and has acquired a number of platforms. Stone Point Capital LLC is a financial services-focused private equity firm based in Greenwich, CT. The firm has raised and managed seven private equity funds – the Trident Funds – with aggregate committed capital of approximately $19 billion.
“Capital One is thrilled to lead this transaction, working with both parties to bring this financing to fruition,” said Bob McCarrick, Head of Middle Market Banking at Capital One. “We’re especially pleased to demonstrate our ability to grow alongside our clients.”
Capital One N.A. Financial Sponsors Group is a leading provider of financing, banking and capital markets services to the middle market private equity sponsor community, offering creative and flexible capital to customers across a broad range of industries.
Customized financing solutions provided include acquisition financings, refinancing of existing debt, recapitalizations, support for working capital needs and funding growth initiatives.
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $243.7 billion in deposits and $365.7 billion in total assets as of December 31, 2017. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol “COF” and is included in the S&P 100 index.