Monarch Alternative Capital has agreed to invest $50 million equity in Veritas Financial Partners. Veritas, of Boca Raton, Fla., provides senior secured loans to middle market businesses.
Veritas Financial Partners, a leading financial services firm providing senior secured loans to middle market businesses and comprehensive credit management services to banks and other financial institutions, announced today that private investment funds advised by Monarch Alternative Capital LP have agreed to invest $50 million of equity in Veritas Financial.
Mark Sunshine, co-CEO of Veritas Financial, stated: “We are extremely pleased to bring our highly experienced team to our new platform, Veritas Financial. Many private and public companies today are facing complex financial challenges that require the expertise of a specialist who can structure lending solutions to meet their needs. Our team has loaned over $5 billion to companies in a wide variety of industries during the past several economic cycles.”
Mike Perlman, co-CEO, added: “We look forward to continuing our heritage as a world-class provider of debt capital as we partner with leading financial institutions who want a highly reliable and responsive lender to support their clients’ long-term financial and strategic goals.”
Monarch Alternative Capital is a private investment firm with assets under management in excess of $4.5 billion. The firm specializes in debt related investments.
Monarch’s Managing Principal and Co-Founder, Michael Weinstock, remarked: “We are impressed with the growth and success that the Veritas team has achieved historically in the sector, and are excited to participate in this new chapter as they continue their track record of successfully growing a financial services business.”
Commenting on the investment by Monarch, Norman Weinstein, Vice Chairman, stated: “We are thrilled to have the confidence and support of Monarch Alternative Capital, particularly given their expertise and innovation in fixed income investing. Their significant investment in Veritas Financial underscores the opportunity we have identified in the middle market implementing our scalable lending and servicing platforms.”
About Veritas Financial Partners
Veritas Financial is a leading financial services firm providing senior secured loans to middle market businesses and comprehensive credit management services to banks and other financial institutions. For additional information about Veritas Financial, please visit www.vfpfinancial.com.