Madison Capital Funding has closed its recapitalization of FTJ FundChoice, a portfolio company of Seaport Capital. No financial terms were disclosed. Based in Hebron, Kentucky, FTJ is an investment adviser.
HEBRON, KY–(Marketwired – February 28, 2017) – FTJ FundChoice, a Seaport Capital portfolio company, announced today that it has completed a successful recapitalization with Madison Capital Funding (“Madison Capital”). The recapitalization is the second debt financing the company has completed in the last two years with Madison Capital and was made possible by the company’s rapid growth in recent years. The proceeds of the recapitalization were used to support the Company’s continued growth and fund a cash distribution to equity holders.
FTJ FundChoice provides technology-enabled asset management, electronic trading and back office administrative services to investment advisors. The Company has grown considerably in recent years as it continues to add assets under administration and investment advisors to its platform. FTJ FundChoice has $7.2 billion in assets under administration.
“FTJ FundChoice has grown assets under administration considerably as we have expanded product and service offerings,” said Dean Cook, president of FTJ FundChoice. “These product initiatives, along with our attentive focus to our customers’ service needs, has allowed the company to establish itself as one of the leading turnkey asset management programs in the industry.”
“Madison Capital has been a supportive and constructive lending partner for FTJ FundChoice over the last two years,” said Bob Tamashunas, Partner of Seaport Capital. “We appreciate their ongoing support as the company continues to grow.”
ABOUT FTJ FUNDCHOICE
Founded in 2001, FTJ FundChoice, LLC, an SEC-Registered Investment Advisor, provides access to independent asset allocation strategies and model trading functionality for advisors who wish to design and manage proprietary portfolios. In addition, FTJ FundChoice assists advisors in simplifying their businesses by absorbing back office tasks, such as trade reconciliation, account administration, fee billing and performance reporting, allowing the advisors to spend more time on revenue-generating activities. For additional information, visit www.ftjfundchoice.com.
ABOUT SEAPORT CAPITAL
Founded in 1997, Seaport Capital provides equity capital to middle market companies in the communications, business services and media sectors. Seaport works with talented management teams to create valuable companies that are leaders in their market segments. Seaport’s extensive investing experience enables it to develop successful strategies; its relationships and resources help achieve them. The firm seeks to invest $10 to $25 million of equity capital in private companies with enterprise values of between $20 and $100 million. For additional information, visit www.seaportcapital.com.
ABOUT MADISON CAPITAL
Madison Capital is a leader in supporting middle market-focused private equity sponsors with cash flow-based corporate finance products. Since our founding in 2001, we have invested over $25.1 billion in net funded commitments in over 965 financing transactions. We have over $8.1 billion in assets currently under management.
As part of NYL Investors, we benefit from the financial strength and stability of our parent company, New York Life Insurance Company, a Fortune 100 company. Backed by this superior strength, Madison Capital has the financial stability you can count on through all economic cycles. For additional information, visit www.newyorklife.com/madisoncapitalfunding/.