Press Release - Golub Capital

NEW YORK, March 15, 2023 — Golub Capital acted as Left Lead Arranger on a $635 million unitranche facility to finance the acquisition of Whitcraft Group (“Whitcraft”) and simultaneous acquisition of Paradigm Precision (“Paradigm”) by Clayton, Dubilier & Rice (“CD&R”) and Greenbriar Equity Group (“Greenbriar”) to form the newly created entity Pursuit Aerospace (“Pursuit”).

Pursuit, which launched earlier this month, is a global manufacturer of complex aircraft engine components developed through highly integrated processes and lean production systems.

Noah Roy, Managing Partner at Greenbriar explained, “Golub Capital has been a committed partner to Whitcraft, providing compelling financing solutions to the company over many years. Their understanding of the business and unique financing capabilities allowed them to provide a solution that was critical for the financing of Whitcraft and Paradigm Precision to form Pursuit Aerospace.”

“We have been working with Whitcraft Group’s management team for nearly 25 years,” said Chip Cushman, Managing Director at Golub Capital. “During this time, we have been able to support the business through multiple acquisitions and growth financings, leveraging the full suite of our lending capabilities and sector expertise.”

Golub Capital’s recent $635 million unitranche facility includes a $75 million revolving credit facility and $560 million term loan. The Firm has supported Whitcraft through multiple private equity owners, acquisitions, and growth financings, serving as the Administrative Agent since 2015.

About Golub Capital Sponsor Finance
Golub Capital is a market-leading, award-winning direct lender and experienced credit asset manager. We specialize in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. The firm’s Direct Lending group provides buy-and-hold financing for sponsor-backed transactions with hold positions up to $700 million and arranges syndicated credit facilities up to $2 billion.

As of January 1, 2023, Golub Capital had over 775 employees and over $60 billion of capital under management, a gross measure of invested capital including leverage. The firm has lending offices in Chicago, New York, San Francisco and London. For more information, please visit golubcapital.com.

About Pursuit Aerospace
Pursuit is a scaled and diversified manufacturer of tight-tolerance components used in commercial and military aircraft engines. The company operates a global network of manufacturing facilities with highly integrated processes and lean production systems. Pursuit’s unique capabilities enable it to deliver products of exceptional quality to its customers across a range of platforms and geographies.

About Clayton, Dubilier & Rice
Clayton, Dubilier & Rice is a private investment firm with a strategy predicated on building stronger, more profitable businesses across a broad range of industries, including Industrials, Healthcare, Consumer, Technology and Financial Services. Since its inception in 1978, CD&R has managed the investment of more than $40 billion in over 100 companies with an aggregate transaction value of more than $175 billion. For more information, please visit www.cdr-inc.com and follow the Firm’s activities through LinkedIn and @CDRBuilds on Twitter.

About Greenbriar
Greenbriar is a private equity firm with more than 20 years of experience investing in market-leading services and manufacturing businesses. With $10 billion of cumulative capital commitments, its investment strategy targets businesses led by experienced management teams capitalizing on strong long-term growth prospects that can benefit from Greenbriar’s deep sectoral expertise, strategic insight, and operating capabilities. For more information, please visit www.greenbriarequity.com.

LONDON, March 6, 2023 – Golub Capital has expanded its presence in Europe with three new additions to its London-based team:

Daniel von Rothenburg joined Golub Capital as a Managing Director and Head of EMEA on the Business Development and Investor Relations team. Prior to Golub Capital, Daniel was a Managing Director at New End and at Oaktree Capital.

Philipp Schroeder joined Golub Capital as a Senior Director on the Direct Lending team. Prior to Golub Capital, Philipp worked in the Direct Originations team at Apollo Global Management in London.

Mensah Lambie joined Golub Capital as a Principal on the Direct Lending team. Prior to Golub Capital, Mensah was a Principal at Apollo Global Management in London.

Reflecting on the Firm’s continued growth in Europe, David Golub, President of Golub Capital, said, “European investors have become increasingly interested in private credit, recognizing its ability to deliver consistent, premium returns. We look forward to meeting this growing demand, building on our nearly 30 years of success in nurturing long-term, win-win partnerships.”

Golub Capital first established a dedicated direct lending presence in Europe in 2020 under the leadership of Tara Moore. In the last three years, Golub Capital has made nearly $9 billion of financing commitments to European deals across more than 80 transactions.¹ Golub Capital’s global sponsor finance platform closed nearly $23 billion in commitments across more than 220 transactions in 2022.

“As European private equity sponsors participate in more cross-border transactions, they are looking for financing partners like us who have the ability to offer best-in-class, scalable lending solutions as well as multi-currency facilities,” said Tara Moore, Managing Director and Head of European Originations at Golub Capital. “We are excited about the opportunity ahead as we continue to deepen new and existing relationships with sponsors throughout the region, bringing the full strength of the Golub Capital platform to bear.”

About Golub Capital
Golub Capital is a market-leading, award-winning direct lender and experienced credit asset manager. We specialize in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. Our sponsor finance expertise also forms the foundation of our Broadly Syndicated Loan and Credit Opportunities investment programs. We nurture long-term, win-win partnerships that inspire repeat business from private equity sponsors and investors.

Represents deals with a European-domiciled private equity sponsor, European-domiciled borrower and/or a European currency component.

Index revenue grew 11% year-over-year during the same period.

The Golub Capital Altman Index can provide early insight into financial performance of public companies and GDP in advance of earnings season.

NEW YORK, January 12, 2023 – Middle market private companies in the Golub Capital Altman Index experienced year-over-year earnings growth of 9% and revenue growth of 11% during the first two months of the fourth quarter of 2022.

Lawrence E. Golub, CEO of Golub Capital, said, “This quarter’s results are a positive surprise. Revenue and profit growth each exceeded inflation by significant margins. We believe these strong results reflect both stronger U.S. economic conditions than many analysts expect and Golub Capital’s focus on lending to recession-resilient companies backed by private equity owners who adapt nimbly to changing conditions.”

Dr. Edward I. Altman said, “The fourth quarter of 2022 across all four sectors we track was stronger than expected, which suggests that the odds of an economic soft landing could be higher than they looked in the third quarter. The strength in the Consumer sector and Industrials sector earnings suggests supply chains are getting back to normal and pressure from higher energy costs is abating. That said, we are still seeing the impact of rising wages in labor-intensive sectors, notably Healthcare.”

The Golub Capital Altman Index (“GCAI”), which is produced by Golub Capital in collaboration with credit expert Dr. Edward I. Altman, is the first and longest-running index based on actual revenue and earnings (defined as earnings before interest, taxes, depreciation and amortization, or “EBITDA”) for middle market companies. It measures the median revenue and earnings growth of approximately 110–150 private U.S. companies in the loan portfolio of Golub Capital, a leading middle market lender. Reported shortly before public company quarterly earnings season, the GCAI has served as a reliable indicator of the overall growth rates in revenue and earnings of public companies in market indexes such as the S&P 500 and S&P SmallCap 600 (“S&P 600”), as well as quarterly Gross Domestic Product (“GDP”), according to statistical back-testing dating back to 2012, when data began to be tracked.

The size and diversity of the Golub Capital loan portfolio ensure that the confidentiality of all company-specific information used in the index is maintained in both the aggregate and industry segment data.

We believe the results (1) are representative of the general performance of middle market companies, which are a major contributor to U.S. private sector employment; (2) can be easily compared to the performance of the public companies that make up major stock indexes; (3) are relevant to the aggregate economic performance of the U.S. economy and (4) provide timely information for the investment community.

The companies in the GCAI operate in a wide range of industries. Results are provided for the total universe of GCAI constituents and by industry segment. Given the index’s limited exposure to Financials, Utilities, Energy and Materials, comparisons are made to the S&P 500 and S&P 600 as well as to “adjusted” versions of those indexes that exclude the aforementioned sectors.

About the Golub Capital Middle Market Report
The Golub Capital Middle Market Report analyzes the results of the Golub Capital Altman Index (“GCAI”), which measures the median revenue and earnings growth of approximately 110–150 privately owned companies in the Golub Capital loan portfolio for the first two months of each calendar quarter. It compares these results to the financial performance of well-known market indexes, including the S&P 500 and S&P SmallCap 600. The GCAI is produced by Golub Capital in collaboration with credit expert Dr. Edward I. Altman. Effective Q2 2022, the Golub Capital Altman Index (GCAI) excludes Golub Capital portfolio companies that have recurring revenue-based credit facilities. The data referenced herein may not reflect all companies in the loan portfolio of Golub Capital during the time periods indicated.

As of October 1, 2022, Golub Capital had over 725 employees and over $55 billion of capital under management, a gross measure of invested capital including leverage. The firm has lending offices in Chicago, New York, San Francisco and London. For more information, please visit golubcapital.com.

About Dr. Edward I. Altman
A leading expert on credit markets, Dr. Edward I. Altman is the Max L. Heine Professor of Finance, Emeritus at the NYU Stern School of Business, and Director of Research in Credit and Debt Markets at the NYU Salomon Center for the Study of Financial Institutions. He is currently an advisor to several foreign central banks. Professor Altman has published or edited two-dozen books and over 150 articles in scholarly finance, accounting and economic journals. He has been inducted into the Fixed Income Analysts Society Hall of Fame, served as President of the Financial Management Association, was an FMA Fellow, and was amongst the inaugural inductees into the Turnaround Management Association Hall of Fame. He received his MBA and Ph.D. in Finance from the University of California, Los Angeles.

Important Disclosure
The Golub Capital Altman Index is provided as an indicator only and does not constitute investment advice or the offer to sell or a solicitation to buy any security. Some of these statements constitute forward-looking statements, which may be predictions about future events, future performance, or future financial conditions. Some of these statements reflect opinions based upon the data presented in the Index, and these opinions may be incorrect. Actual results could vary materially from those implied or expressed in such forward-looking statements for any reason. The Golub Capital Altman Index has been created on the basis of information provided by third-party sources that are believed to be reliable, but the information has not been verified independently by Golub Capital. Golub Capital makes no warranty or representation as to the accuracy or completeness of such third-party information.

NEW YORK, December 8, 2022/SEOUL, December 9, 2022 – The Korea Investment Corporation (“KIC”) and Golub Capital LLC (together with its affiliates, “Golub Capital”) are pleased to announce the expansion of their strategic partnership. In connection with this announcement, KIC has acquired a passive, non-voting minority stake in Golub Capital’s management companies.

Golub Capital plans to use the proceeds from KIC’s investment to further enhance its ability to deliver distinctive, compelling and reliable financing solutions to private equity sponsors. All proceeds from the transaction will remain invested in Golub Capital.

“We are pleased to expand our relationship with Golub Capital,” said Seoungho Jin, CEO of KIC. “This investment reflects our confidence in Golub Capital as a preeminent private credit asset manager. As a long-term investor, we believe our strategic partnership with Golub Capital will help us continue to diversify KIC’s alternative asset portfolio and to deliver strong long-term investment performance.”

“We are honored by KIC’s confidence in our direct lending franchise,” said David Golub, President of Golub Capital. “KIC is a world-class institutional investor with a distinguished long-term track record. Our strategic partnership with KIC provides Golub Capital with more resources to advance our mission to be the best in sponsor finance. We look forward to a long future of shared success.”

Golub Capital’s strategy, management team and day-to-day operations will not change as a result of KIC’s investment. KIC’s stake represents an economic interest in Golub Capital’s management companies of less than 5%. Additional terms of the investment were not disclosed. Evercore served as financial advisor and Kirkland & Ellis LLP served as legal counsel to Golub Capital on the transaction. KPMG acted as financial advisor and Greenberg Traurig LLP acted as legal advisor to KIC.

About Korea Investment Corporation
The Korea Investment Corporation (KIC) is the sovereign wealth fund of the Republic of Korea. We manage public funds entrusted by the Korean government, Bank of Korea and other public funds, investing across diverse asset classes. Our goal is to increase sovereign wealth and help develop the domestic finance industry. Learn more at www.kic.kr/en/.

Index earnings fell slightly year-over-year as inflation continued to put pressure on profit margins.

The Golub Capital Altman Index can provide early insight into financial performance of public companies and GDP in advance of earnings season.

NEW YORK, October 10, 2022 – Middle market private companies in the Golub Capital Altman Index experienced year-over-year revenue growth of 12% and earnings decline of 2% during the first two months of the third quarter of 2022. This compares to year-over-year revenue growth of 12% and earnings growth of 2% in the second quarter of 2022.

Lawrence E. Golub, CEO of Golub Capital, said, “The U.S. economy continues to muddle through an environment of heightened uncertainty. This quarter’s data is consistent with our expectation that economic growth will likely remain low in real terms for the rest of 2022 into 2023. Although profit growth declined slightly in aggregate, the data also shows increasing dispersion in performance by industry and company. Successfully navigating this environment will require management teams and owners to adapt quickly to changing circumstances. In our view, this type of environment plays to the strengths of private equity-backed businesses.”

Dr. Edward I. Altman said, “EBITDA growth rates in the first two months of Q3 were negative versus the same period of 2021 with four of the five major industrial sectors registering negative growth. Only Industrials showed relative strong profit growth as these firms improved their cost management after suffering margin pressure in earlier quarters. Indeed, the Consumer and Technology sectors turned negative this past quarter despite revenue growth of more than 12%. The pullback in Consumer sector profit growth suggests companies struggled to pass rising input costs on to consumers, who faced rising prices for food and gasoline. Even Technology companies faced margin pressure, after a long stretch of very strong profit growth. That said, across all four of the sectors we track, companies with the strongest pricing power, like mission critical business-to-business SaaS companies, are in general keeping up with inflation.”

About the Golub Capital Middle Market Report
The Golub Capital Middle Market Report analyzes the results of the Golub Capital Altman Index (“GCAI”), which measures the median revenue and earnings growth of approximately 110-150 privately owned companies in the Golub Capital loan portfolio for the first two months of each calendar quarter. It compares these results to the financial performance of well-known market indexes, including the S&P 500 and S&P SmallCap 600. The GCAI is produced by Golub Capital in collaboration with credit expert Dr. Edward I. Altman. Effective Q2 2022, the Golub Capital Altman Index (GCAI) excludes Golub Capital portfolio companies that have recurring revenue-based credit facilities. The data referenced herein may not reflect all companies in the loan portfolio of Golub Capital during the time periods indicated.

About Golub Capital
Golub Capital is a market-leading, award-winning direct lender and experienced credit asset manager. We specialize in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. Our sponsor finance expertise also forms the foundation of our Late Stage Lending, Broadly Syndicated Loan and Credit Opportunities investment programs. We nurture long-term, win-win partnerships that inspire repeat business from private equity sponsors and investors.

As of July 1, 2022, Golub Capital had over 675 employees and over $55 billion of capital under management, a gross measure of invested capital including leverage. The firm has lending offices in Chicago, New York, San Francisco and London. For more information, please visit golubcapital.com.

Index earnings grew by 2% year-over-year during the same period.

The Golub Capital Altman Index can provide early insight into financial performance of public companies and GDP in advance of earnings season.

NEW YORK, July 13, 2022 – Middle market private companies in the Golub Capital Altman Index experienced year-over-year revenue growth of 12% and earnings growth of 2% during the first two months of the second quarter of 2022. This compares to year-over-year revenue growth of 18% and earnings growth of 9% in the first quarter of 2022.

Lawrence E. Golub, CEO of Golub Capital, said, “As expected, the economy is demonstrating muddling growth in profits and faster growth in revenues, which means margins are shrinking. This is likely to persist throughout the year, as businesses continue to adjust to higher inflation. The 12% nominal growth in revenue year-over-year well outpaced inflation, showing good health in the economy consistent with the low unemployment rates, even as costs for businesses rise. We expect strong management teams and private equity sponsors will adapt to this environment with speed and creativity, much as they adapted to Covid in 2020.”

Dr. Edward I. Altman said, “Although revenue and EBITDA growth rates in the Consumer sector slowed relative to the first quarter, they were surprisingly robust given the strain on household budgets from higher food and energy prices. By contrast, EBITDA declined in the Healthcare sector year-over-year as labor costs continued to weigh on profitability. With unemployment remaining historically low, we expect the Fed to continue to raise interest rates aggressively to combat inflation in the near term. Our data suggests the economy is broadly healthy, but we believe consumer spending may soften if inflation continues to outpace growth in disposable income. We believe investors should continue to prepare for a possible scenario of stagflation if the Fed is unsuccessful.”

The Golub Capital Altman Index (“GCAI”), which is produced by Golub Capital in collaboration with credit expert Dr. Edward I. Altman, is the first and longest-running index based on actual revenue and earnings (defined as earnings before interest, taxes, depreciation and amortization, or “EBITDA”) for middle market companies. It measures the median revenue and earnings growth of approximately 110-150 private U.S. companies in the loan portfolio of Golub Capital, a leading middle market lender. Reported shortly before public company quarterly earnings season, the GCAI has served as a reliable indicator of the overall growth rates in revenue and earnings of public companies in market indexes such as the S&P 500 and S&P SmallCap 600 (“S&P 600”), as well as quarterly Gross Domestic Product (“GDP”), according to statistical back-testing dating back to 2012, when data began to be tracked.

About the Golub Capital Middle Market Report
The Golub Capital Middle Market Report analyzes the results of the Golub Capital Altman Index (“GCAI”), which measures the median revenue and earnings growth of approximately 110-150 privately owned companies in the Golub Capital loan portfolio for the first two months of each calendar quarter. It compares these results to the financial performance of well-known market indexes, including the S&P 500 and S&P SmallCap 600. The GCAI is produced by Golub Capital in collaboration with credit expert Dr. Edward I. Altman. Effective Q2 2022, the Golub Capital Altman Index (GCAI) excludes Golub Capital portfolio companies that have recurring revenue-based credit facilities. The data referenced herein may not reflect all companies in the loan portfolio of Golub Capital during the time periods indicated.

About Golub Capital
Golub Capital is a market-leading, award-winning direct lender and experienced credit asset manager. We specialize in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. Our sponsor finance expertise also forms the foundation of our Late Stage Lending, Broadly Syndicated Loan and Credit Opportunities investment programs. We nurture long-term, win-win partnerships that inspire repeat business from private equity sponsors and investors.

As of April 1, 2022, Golub Capital had over 620 employees and over $50 billion of capital under management, a gross measure of invested capital including leverage. The firm has lending offices in Chicago, New York, San Francisco and London. For more information, please visit golubcapital.com.

Index revenue grew by 18%, outpacing earnings growth for the third consecutive quarter

The Golub Capital Altman Index can provide early insight into financial performance of public companies and GDP in advance of earnings season.

NEW YORK, April 13, 2022 – Middle market private companies in the Golub Capital Altman Index experienced year-over-year earnings growth of 9% and revenue growth of 18% during the first two months of the first quarter of 2022. This report marks a return to the typical year-over-year comparisons now that the impact of widespread Covid-related lockdowns throughout much of 2020 are not affecting the data.

Lawrence E. Golub, CEO of Golub Capital, said, “The boom part of 2021 boomflation has started to decelerate in the first quarter of 2022. The economy is still strong, and the 18% nominal growth in revenue year-over-year is good but it is not great. Earnings growth of 9% was closer to flat in real dollars after adjusting for the nearly 8% increase in consumer prices during the same period. Higher input costs and labor costs are weighing down profitability, even in our portfolio of market-leading businesses in resilient industries. Demand remains robust, and companies will continue to adapt if inflation remains high.”

Dr. Edward I. Altman said, “The margin compression we’ve seen in the last three quarters marks a reversal of trend from the considerable margin expansion during the recovery from Covid lockdowns. Although the acceleration in labor costs and employee turnover is a headwind for most companies, it is also an opportunity for technology firms that deliver productivity-enhancing solutions. Looking forward, with the Fed on track to raise interest rates, probably substantially, in the coming quarters, our data suggests that investors would do well to prepare for a possible scenario of stagflation. We will continue to monitor our data for early economic signs of recovery or recession.”

The Golub Capital Altman Index (“GCAI”), which is produced by Golub Capital in collaboration with renowned credit expert Dr. Edward I. Altman, is the first and longest-running index based on actual revenue and earnings (defined as earnings before interest, taxes, depreciation and amortization, or “EBITDA”) for middle market companies. It measures the median revenue and earnings growth of more than 150 private U.S. companies in the loan portfolio of Golub Capital, a leading middle market lender. Reported shortly before public company quarterly earnings season, the GCAI has served as a reliable indicator of the overall growth rates in revenue and earnings of public companies in market indexes such as the S&P 500 and S&P SmallCap 600 (“S&P 600”), as well as quarterly Gross Domestic Product (“GDP”), according to statistical back-testing dating back to 2012, when data began to be tracked.

About the Golub Capital Middle Market Report

The Golub Capital Middle Market Report analyzes the results of the Golub Capital Altman Index (“GCAI”), which measures the median revenue and earnings growth of more than 150 privately owned companies in the Golub Capital loan portfolio for the first two months of each calendar quarter. It compares these results to the financial performance of well-known market indexes, including the S&P 500 and S&P SmallCap 600. The GCAI is produced by Golub Capital in collaboration with credit expert Dr. Edward I. Altman.

About Golub Capital
Golub Capital is a market-leading, award-winning direct lender and credit asset manager, with over $45 billion of capital under management. Golub Capital specializes in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. The firm’s sponsor finance expertise also forms the foundation of its Late Stage Lending, Broadly Syndicated Loan and Credit Opportunities investment programs. Across its activities, Golub Capital nurtures long-term, win-win partnerships that inspire repeat business from private equity sponsors and investors. Founded over 25 years ago, Golub Capital today has over 600 employees and lending offices in Chicago, New York, San Francisco and London. For more information, please visit golubcapital.com.

Important Disclosure
The Golub Capital Altman Index is provided as an indicator only, and does not constitute investment advice or the offer to sell or a solicitation to buy any security. Some of these statements constitute forward-looking statements, which may be predictions about future events, future performance, or future financial conditions. Some of these statements reflect opinions based upon the data presented in the Index, and these opinions may be incorrect. Actual results could vary materially from those implied or expressed in such forward-looking statements for any reason. The Golub Capital Altman Index has been created on the basis of information provided by third-party sources that are believed to be reliable, but the information has not been verified independently by Golub Capital. Golub Capital makes no warranty or representation as to the accuracy or completeness of such third-party information.

NEW YORK, April 5, 2022 — Golub Capital acted as Left Lead Arranger and Administrative Agent on a $1.3 billion unitranche facility to finance CVC Capital Partners’ (“CVC”) acquisition of a controlling interest in Radwell International, Inc. (“Radwell”) from Greenbriar Equity Group (“Greenbriar”). Greenbriar and Radwell management will remain holders of significant interests in the equity of the company.

The financing consists of a $1.1 billion first-lien term loan, $150 million first-lien delayed-draw term loan and a $60 million multi-currency revolver.

“This is another example of our ability to deliver unitranche facilities of significant scale, while also providing committed growth capital, to high quality companies like Radwell in support of the investment objectives of two outstanding sponsors in CVC and Greenbriar,” said Spyro Alexopoulos, Senior Managing Director and Head of Originations at Golub Capital.

Golub Capital has been a lender to Radwell since February 2021.

About Golub Capital Sponsor Finance
Golub Capital is a market-leading, award-winning direct lender, with over $45 billion of capital under management. Golub Capital specializes in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. The Firm’s Direct Lending group provides buy-and-hold financing for sponsor-backed transactions with hold positions of up to $700 million and arranges syndicated credit facilities up to $2+ billion.

Across its activities, Golub Capital nurtures long-term, win-win partnerships that inspire repeat business from private equity sponsors and investors. Founded over 25 years ago, Golub Capital today has over 600 employees and lending offices in Chicago, New York, San Francisco and London. For more information, please visit golubcapital.com.

About Radwell International
Radwell is a distributor of new, surplus, and reconditioned industrial automation and electronic control equipment for plant floor and facilities maintenance machinery. The company also has full component-level repair capabilities, offering comprehensive solutions for all products across the full industrial automation equipment lifecycle. Radwell stocks and sells over 26 million unique industrial parts such as programmable logic controllers, data control systems, integrated circuits, timers, servo motors, and much more. Radwell is an authorized distributor and application solution provider for brand new OEM manufactured products of over 300 brands. The company is headquartered in Willingboro, New Jersey, and has nine locations globally across the United States, Canada, the United Kingdom, and Germany. For further information about Radwell International, please visit www.radwell.com.

About CVC
CVC is a leading private equity and investment advisory firm with a network of 25 offices throughout Europe, Asia and the US, with approximately US$122 billion of assets under management. Since its founding in 1981, CVC has secured commitments in excess of US$165 billion from some of the world’s leading institutional investors across its private equity and credit strategies. Funds managed or advised by CVC are invested in over 100 companies worldwide, which have combined annual sales of approximately US$120 billion and employ more than 500,000 people. For further information about CVC please visit: www.cvc.com. Follow us on LinkedIn here.

About Greenbriar
Founded in 1999, Greenbriar is a middle market private equity firm, with more than $6 billion of aggregate capital commitments across its five funds, focused on investments in market-leading services and manufacturing businesses. Greenbriar looks to identify companies with proven management teams capitalizing on strong long-term growth prospects that can benefit from Greenbriar’s deep sectoral expertise and strategic insight alongside our proven operating capabilities and network of senior executive relationships. For more information, please visit www.greenbriarequity.com.

iCapital’s network of more than 10,200 advisors serving high-net-worth clients will gain
streamlined access to Golub Capital’s alternatives expertise

NEW YORK – March 28, 2022 – iCapital¹, the leading global fintech platform driving access and efficiency in alternative investing for the asset and wealth management industries, has partnered with Golub Capital, a market-leading direct lender, to provide wealth managers on the iCapital platform with access to Golub Capital’s private credit strategies.

Financial advisors will now be offered Golub Capital’s private credit expertise and products alongside iCapital’s education, technology and investment administration capabilities. iCapital will also build a customized technology platform for Golub Capital that will enable wealth managers and their high-net-worth clients to access additional Golub Capital products on an end-to-end, fully automated platform.

“We look forward to working with iCapital and its network of experienced wealth advisors to deliver solutions designed to help their clients achieve their goals,” said David Golub, President of Golub Capital.

iCapital’s technology and service offering overcomes many of the long-standing challenges for advisors and their clients investing in alternatives by digitalizing the subscription, administration, operational and reporting processes for the life of the investment. iCapital also provides a full suite of research, due diligence and educational materials to advisors and investors to support the growing interest in alternative investing.

“High-net-worth clients are increasingly seeking access to sophisticated investment opportunities, especially in response to today’s market environment,” said Lawrence Calcano, Chairman and CEO of iCapital. “We’re thrilled to bring Golub Capital to our advisors and their clients, allowing them to explore how adding private credit strategies to portfolios may potentially improve investment outcomes. Golub Capital is a preeminent direct lender and we are excited to welcome them to the iCapital platform.”

About iCapital
Founded in 2013 in NYC, iCapital is the leading global fintech company powering the world’s alternative investment marketplace. It has transformed the way the wealth management, banking, and asset management industries facilitate access to private markets investments for their high-net-worth clients by providing intuitive, end-to-end technology and service solutions. Wealth management firms use iCapital’s solutions to provide clients with quality funds at lower minimums and simplified digital workflows. Asset managers, RIAs, and banks leverage iCapital’s technology to streamline and scale their alternative investments operational infrastructure. Additionally, the iCapital ‘flagship’ platform offers wealth advisors and their high-net-worth clients access to a curated menu of private equity, private credit, hedge funds, structured notes, and other alternative investments to help meet their investing needs for return and diversification. iCapital’s research and diligence team offers robust analysis alongside the firm’s extensive suite of advisor education, compliance, portfolio management, and portfolio analytics tools and services. iCapital was recognized on the Forbes FinTech 50 list in 2018, 2019, 2020 and 2021, the Forbes America’s Best Startup Employers in 2021 and 2022, and MMI/Barron’s Industry Awards as Solutions Provider of the Year in 2020 and 2021. As of February 28, 2022, iCapital services more than US$115 billion in global client assets, of which US$28 billion are from international investors (non-US Domestic), across more than 970 funds. Employing more than 750 people globally, iCapital is headquartered in NYC and has offices worldwide including in Zurich, London, Lisbon, Hong Kong, Singapore, and Toronto.

For additional information, please visit iCapital’s website at www.icapitalnetwork.com | LinkedIn: https://www.linkedin.com/company/icapital-network-inc | Twitter: @icapitalnetwork

See disclosures here.

About Golub Capital
Golub Capital is a market-leading, award-winning direct lender with over $45 billion of capital under management. Golub Capital specializes in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. The firm’s sponsor finance expertise also forms the foundation of its Late Stage Lending, Broadly Syndicated Loan and Credit Opportunities investment programs. Across its activities, Golub Capital nurtures long-term, win-win partnerships that inspire repeat business from private equity sponsors and investors. Founded over 25 years ago, Golub Capital today has over 600 employees and lending offices in Chicago, New York, San Francisco and London. For more information, please visit golubcapital.com.

For iCapital media inquiries, please contact:

Morgan Miller
+1 (919) 602-2806
[email protected]

For Golub Capital media inquiries, please contact:

Miller Winston
+1 (646) 277-8837
[email protected]

Institutional Capital Network, Inc. and its affiliates (together, “iCapital”)

Golub Capital has become a signatory to the United Nations-supported Principles for Responsible Investment (PRI), the world’s leading proponent of responsible investment. By becoming a PRI signatory, Golub Capital reaffirms its commitment to integrate environmental, social and governance (ESG) considerations in its investment activities and business practices.

“Golub Capital has long been committed to ESG principles,” said David Golub, President of Golub Capital. “We believe it’s the right thing to do, and it’s aligned with our culture of building long-term, win-win partnerships. It’s also good for our business. We believe that attention to ESG risk factors helps us make prudent investment decisions.”

The PRI supports its international network of investor signatories as they incorporate ESG factors into their long-term investment decision-making and stewardship practices to both enhance returns and better manage risks.

“We are proud to join the PRI’s international community of asset managers that are committed to responsible stewardship of capital,” said Tim Kleiman, Managing Director, Head of ESG at Golub Capital.