New York, NY – April 9, 2019 – Centre Lane Partners, LLC (“Centre Lane”) and Eaglehill Advisors LLC (“Eaglehill”) and their affiliates today announced the closing of a definitive merger agreement under which a Centre Lane-managed vehicle merged with Eaglehill Capital Partners L.P. (the “Eaglehill Fund”), and Centre Lane was appointed the manager of the portfolio previously managed by Eaglehill.
The acquisition of Eaglehill’s portfolio of middle market loans builds on Centre Lane’s extensive experience in providing solutions to companies and investors, including through fund restructurings and serving as a replacement general partner. This transaction follows a similar template as Centre Lane’s successful purchase of five investment funds from Perseus Partners.
“This transaction is consistent with Centre Lane’s investment approach of investing in complex situations and providing attractive solutions for limited partners,” said Quinn Morgan, Co-founder and Managing Director of Centre Lane. “Eaglehill’s portfolio is comprised of a mix of middle market credits, and we are happy to offer the previous Eaglehill Fund’s limited partners with significant flexibility to exit or continue their investment in the underlying portfolio. We look forward to partnering with the strong base of investors who rolled over.”
“I believe this is a great outcome for the Eaglehill Fund’s limited partners,” said Jason Cunningham, Founder and Managing Partner of Eaglehill.
Park Hill Group LLC served as financial advisor to the Eaglehill Fund. Latham & Watkins LLP served as legal advisor to the Eaglehill Fund. Reed Smith LLP served as legal advisor to Centre Lane.
About Centre Lane Partners
Centre Lane is a private investment firm focused on executing private equity and private debt investments in the North American middle market. Founded in 2007, Centre Lane brings thoughtful, flexible capital solutions and operational know-how to companies and complex situations in the middle market.
Eaglehill is a private credit investment firm focused on direct lending solutions primarily to North American middle market companies backed by private equity sponsors. Eaglehill was founded in 2014 and is headquartered in New York, NY.
For Centre Lane:
Nathaniel Garnick / Kevin FitzGerald
Gasthalter & Co.