Eldridge Industries has acquired a majority ownership stake in Chicago-based Maranon Capital LP after increasing its investment in the latter company. No financial terms were disclosed. Maranon is an investment firm focused on private credit investments in middle-market companies.
CHICAGO–(BUSINESS WIRE)–Maranon Capital, L.P. (“Maranon”), an investment firm focused on private credit investments in middle market companies, today announced that Eldridge Industries (“Eldridge”) has increased its investment in Maranon, now holding a majority ownership position. In addition to the equity investment, affiliates of Eldridge have made further commitments to Maranon’s platform, which will support Maranon’s ongoing strategic initiatives, including expanding the company’s underwriting and hold capability. Maranon’s updated Form ADV, reflecting Eldridge’s majority ownership position, has been filed with the U.S. Securities and Exchange Commission (“SEC”).
“Since establishing our partnership with Eldridge in 2015, we’ve invested over $3.7 billion in 150 transactions,” said Ian Larkin, Maranon co-founder and Managing Director. “The expanded partnership will further advance our presence as a leader in middle market private credit.”
Eldridge will acquire the additional stake from Maranon’s co-founder and Managing Director Tom Gregory, who has decided to transition to an advisory role.
“Maranon’s partners have been investing together for over 16 years, creating a deep bench of seasoned investment professionals and driving a service-oriented culture that we have brought to our clients over the years,” said Gregory. “Building a highly successful business with a solid culture based on strong values has been a distinct honor and privilege. I believe Maranon’s team and investment platform may benefit from the stability of a large institutional shareholder. I look forward to continuing my involvement in an advisory role as I explore the next phase of my career.”
Since its formation in 2015, Eldridge has taken ownership stakes in multiple businesses in the financial services industry, including Security Benefit, a leader in the U.S. retirement savings market; SEC-registered investment advisers Cain International, a global real estate company, and CBAM, a credit-focused investment management firm with over $10.9 billion in AUM; Stonebriar Commercial Finance, a diversified equipment finance business with approximately $2 billion in assets; Elliott Bay, a privately held real estate investment firm focused on healthcare properties; and Essential Properties Realty Trust, Inc., a publicly traded equity REIT on the NYSE under “EPRT”.
About Maranon Capital
Maranon Capital, L.P. is an investment firm focused on private credit investments. Maranon’s approach to financing middle market transactions begins with the diverse and complementary backgrounds of its team of 35 professionals. Maranon’s competitive edge is its multi-product strategies that span the balance sheet with value-added financing and equity co-investments. Since 2008, Maranon has committed over $5.0 billion of capital. For more information about Maranon Capital please visit www.MaranonCapital.com.
About Eldridge Industries
Eldridge Industries invests across diversified industries with a focus on media and sports, insurance, real estate development, asset lending and financing, branded food and hospitality, and asset management businesses. Eldridge seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. The firm is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York, and London. To learn more about Eldridge Industries please visit www.eldridge.com.