Denver-based alternative asset manager Bow River Capital has bought the asset-based financing business of Park Cities Asset Management (AM), an asset manager focused on providing capital solutions to the lower middle market.
The acquisition expands Bow River’s capabilities in private credit with the addition of a 12-person team and a strategy focused on originating privately-negotiated, non-traded loans typically with 2-3 year terms, targeting attractive yields in asset-based finance.
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Park Cities provides secured financing solutions across the capital structure to lower middle market companies across a variety of sectors. Since its founding, Park Cities has deployed more than $2bn (£1.48bn) across more than 50 portfolio companies and distributed over $150m to investors, the firm said.
“We were attracted to the Park Cities team because of their deep sector expertise, strong track record and like-minded culture,” said Bow River Capital chief executive Blair Richardson.
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“This acquisition rounds out Bow River’s private credit offering and is an important milestone in our vision of building a comprehensive, multi-asset alternative investment manager focused on the Rodeo Region.”
“We’re excited to join Bow River’s platform,” added Park Cities managing partner Andy Thomas. “Their commitment to long‑term partnerships and scale will allow us to accelerate the growth of our lending strategy and deepen service to our investors and lending partners.”
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