Harvest Partners hit direct lending market for $945M unitranche loan at L+575 to support Integrity Marketing deal: Owl Rock, Crescent, Antares

Posted by Kelly Thompson, Direct Lending Deals on Sep 16, 2019 3:00:00 PM
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Harvest Partners went with Owl Rock Capital, Crescent Capital and Antares Capital last month for $945 million in unitranche financing in connection with the private equity firm’s minority growth investment in Integrity Marketing Group, a national life and health insurance broker.

Owl Rock acted as administrative agent, with Crescent Capital and Antares acting as joint lead arrangers. Owl Rock and Crescent split the financing, with Harvest Partners bringing in Antares and about five other lenders, according to sources. Pricing is L+575, they said. 

Harvest Partners Structured Capital, a unit of the PE firm that provides senior equity, provided additional financing. 

Harvest Partners announced the transaction on Aug. 28. Existing investor HGGC and management continue to collectively control the Dallas-based business, which has 215,000 agents across the U.S. and over $2 billion in annualized premiums. —Kelly Thompson 

kelly.thompson@dldeals.com; 773-954-8207

Mark O’Brien: mobrien@advantagedata.com; 617-963-4556


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********Coming soon! Direct Lending Deals is a new publication that lifts the curtain on private credit by giving investors and originators the latest news and analysis on terms & trends in the direct lending market, now a $1 trillion dollar asset class. DL Deals focuses on sponsor-driven transactions, the main engine of deal flow in leveraged lending. We tap into 20-year relationships to go deeper on deals, and cover all segments of direct lending including fundraising, BDCs and people shaping the market. Contact kelly.thompson@dldeals.com to join the DL Deals distribution list. Website and formal launch coming next month.********

Topics: Middle Market, BDC, debt, business development company, Non-accruals, portfolio, Direct Lending, underperformers, Direct Lending Deals

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