GE to sell private equity lending unit to CPPIB in $12 bln deal
GE said Tuesday that it has agreed to sell its U.S. Sponsor Finance business plus a $3 billion loan portfolio to Canada Pension Plan Investment Board (CPPIB). The transaction is valued at $12 billion. The deal includes Antares Capital, GE Capital’s lending business to private equity-backed middle market companies. Antares will operate as a stand-alone business led by managing partners David Brackett and John Martin. J.P. Morgan Securities LLC and Citigroup Global Markets Inc. provided financial advice.
9 June 2015•6 mins read
