Kirkland & Ellis advised Crescent Capital BDC, Inc., a business development company externally managed by Crescent Cap Advisors, a subsidiary of Crescent Capital, on its acquisition of Alcentra Capital Corporation (NASDAQ:ABDC), a middle-market business development company managed by Alcentra NY, LLC, a majority-owned subsidiary of BNY Alcentra Group Holdings, Inc., for a combination of cash and stock. The transaction establishes a top-15, externally managed, publicly traded BDC with a combined portfolio in excess of $900 million at close. The transaction is subject to customary regulatory approvals and other closing conditions and is expected to close in the fourth quarter of 2019.
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The Kirkland team was led by transactional partners Monica Shilling and Joshua Zachariah and associates David Perechocky, Chris Kim and Spencer Brass; capital markets partner Gretchen Blauvelt-Marquez and associate Kat Tyurin; tax partners Mike Beinus and Meredith Levy; and investment funds partners Scott Moehrke and Kevin Bettsteller.