Catalyst's Fund V expected to take 75 pct interest in Callidus loans
Catalyst Capital Group's latest distressed-for-control fund is expected to have a 75 percent participation interest in new loans issued by Callidus Capital Corp (TSX: CBL), a Canadian specialty lender and Catalyst portfolio company. Catalyst Fund LP V's interest is expected to be repurchased by Callidus within four to six quarters of the fund's first close at par and with a pro-rata guarantee. Participation in new Callidus loans is contingent on Fund V closing at or above its initial target of US$1.25 billion. The fund raised US$650 million in a first tranche in April. Callidus, which lends mostly to distressed businesses, reported growth in its gross loans receivable since May to $1.053 billion.
13 July 2015•4 mins read
