Runway Growth Capital LLC, the investment adviser to Runway Growth Finance Corp. (RWAY), announced a definitive agreement for its acquisition by affiliates of BC Partners Credit. This transaction is expected to close in the fourth quarter of 2024, with Runway's current management team and investment personnel anticipated to continue in their roles.
The strategic partnership is projected to significantly enhance Runway Growth Finance's capabilities by expanding its origination funnel and enabling participation in larger deals, with total loan sizes ranging from $30 million to $150 million. RWAY is expected to maintain a focused allocation of $20 million to $45 million within these larger deals.
Furthermore, the combination is set to broaden RWAY's product suite to include structured equity, asset-based lending, and potentially equipment leasing. This expansion aims to offer more comprehensive solutions to borrowers and strengthen sponsor relationships, driving portfolio diversification across industries and investment sizes.
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