CrowdOut provides $30 million credit facility to support Personiv’s growth

Private lending syndication platform CrowdOut Capital announced last Wednesday the completion of a $30 million credit facility to Personiv. According to CrowdOut, the borrower is a business process outsourcer that employs over 2,500 employees in 3 different countries and the proceeds from the loan will be used to provide additional liquidity for future acquisitions, organic growth and recapitalize the company. This marks the second loan CrowdOut has provided to Personiv in just over a year.

“High growth companies like Personiv seek out non-bank financing solutions like ours because they need flexibility,” said Alexander Schoenbaum, CEO of CrowdOut Capital. “Our expedited due diligence and streamlined approach to underwriting loans is a unique value proposition over banks and traditional credit funds. Our 1 to 4 year term loans offer cost-savings to borrowers and strong ROI for investors.”

Read the full article: CrowdOut Provides $30 Million Credit Facility to Support Personiv’s Growth (CrowdFund Insider)

December 10th, 2018|Categories: Client News|Tags: , , , , |

Didi Hirsch Mental Health Services gets $1M for suicide prevention program

Didi Hirsch Mental Health Services has announced that it was awarded a $1 million grant to expand its suicide prevention program, which provides services to young people under 24 and their families, including crisis intervention, therapy and support, as well as training and education.

The grant came from the Everychild Foundation, made up of more than 200 women who, annually, each donate $5,000 to fund a single $1 million grant to launch or expand a project that eases suffering of local children. It’s the 19th annual grant awarded by the foundation, which has given more than $17 million to help Los Angeles area children and their families in need since 2000.

“With its generous support, the Everychild Foundation has made a commitment to one of the most stigmatized and neglected health risks facing youth and young adults’ suicide,” Dr. Kita Curry, CEO of Didi Hirsch, said. “The suicide rate doubled among 10- to 14-year-olds in the last decade, and it is the second-leading cause of death among 15- to 24-year-olds. Thanks to the Everychild Foundation, in our new Suicide Prevention Center, we will have the room and tools needed to expand services for this vulnerable group.”

Read the full article: Didi Hirsch Mental Health Services Gets $1M for Suicide Prevention Program (MyNewsLA.com)

November 19th, 2018|Categories: Client News|Tags: , , , , , |

Murano Connect results in $10 billion to fund managers

Murano Connect, a leading financial services company that matches fund managers to allocators, today announced it has sourced opportunities that led to more than $10 billion in AUM for its clients. Murano offers an affordable alternative to third-party marketers or an in-house sales person, both of which are expensive, by enabling niche hedge and mutual funds, mid-sized private equity, alternatives and fund to funds to grow.

“Murano’s methodology identifies philosophic and strategic alignment between allocators and fund managers,” said Ole Rollag, CEO of Murano Connect. “But the key to our success is selectivity. We accept less than 10 percent of the funds that apply for our service.”

Read the full release: Murano Connect Results in $10 Billion to Fund Managers

October 11th, 2018|Categories: Client News|Tags: , , , , , |

Blackstone signs agreement to invest in TaskUs

Private Equity funds managed by Blackstone (NYSE: BX) have entered into a definitive agreement to invest in TaskUs, a leading customer service and business process outsourcing services provider for high-growth technology companies. The investment, before funding, values TaskUs at more than $500 million.

Founded in 2008 by Bryce Maddock and Jaspar Weir, TaskUs is one of the fastest-growing companies in its industry globally. Its business process solutions, which leverage the latest technology, including AI, advanced Learning Management Systems and big data, help companies quickly scale. TaskUs will continue to be led by Maddock, Weir, and the existing management team, who have been instrumental in driving the company’s growth.

Bryce Maddock, TaskUs co-founder and CEO, commented, “We chose to partner with Blackstone because they have a track record of building category-defining businesses. Our goal is to build TaskUs into the world’s number one provider of tech-enabled business services.”

Read full coverage:

Blackstone to invest in Santa Monica outsourcing firm (Los Angeles Times)
Blackstone Invests in Outsourcing Services Provider TaskUs (The Wall Street Journal)
Blackstone Buys $250 Million Stake in Outsourcing Startup TaskUs (Bloomberg)
AI training and social network content moderation services bring TaskUs a $250 million windfall (TechCrunch)

August 9th, 2018|Categories: Client News|Tags: , , , , , |