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Golub Capital Sets New Records for Deal Activity in 2021

$36+ Billion in Commitments Closed in Last 12 Months, including $15+ Billion Closed in the Fourth Quarter of 2021

Capital Under Management Grows to $45+ Billion

 

NEW YORK, January 10, 2022 – Golub Capital today announced record originations for both the fourth quarter of 2021 and the full year. The Firm closed over $15 billion in commitments during the fourth quarter and over $36 billion in commitments for all of 2021.

“2021 was Golub Capital’s best year ever,” said David Golub, President of Golub Capital. “Our team, now over 600-strong, delivered on our mission to be best at sponsor finance, providing compelling financing solutions across 371 transactions while sustaining our long track record of low credit losses and excellent results for investors.”

Additional 2021 Highlights, based on preliminary results1:

  • 371 transactions ranging in size from less than $10 million to $3 billion
  • Over 90% of new loans were to companies controlled by private equity firms Golub Capital has previously worked with
  • Led or co-led a record 38 “mega one-stops” (unitranches above $500 million) in 2021, more than half of all mega one-stop deals completed during the period
  • Strong credit results, reflected in a default rate of approximately 0.16% for the year2
  • Capital under management grew to more than $45 billion as of January 1, 2022

“We are proud to be the financing partner of choice for so many leading private equity firms,” said Greg Cashman, Head of Direct Lending at Golub Capital. “We look forward to continuing to help our borrowers and sponsor partners succeed by providing them financing solutions with scale, reliability, domain expertise, creativity, multi-currency capabilities and flexibility.”

2021 Transaction Highlights include:

  • Increased insightsoftware’s unitranche facility to over $2 billion, marking the ninth upsize that Golub Capital has led for the company since 2018 to support add-on acquisitions
  • Structured 18 multi-currency and non-USD facilities totaling approximately $2.5 billion of commitments, for existing borrowers like FYidoctors as well as new platforms like New Look Vision Group
  • Acted as Administrative Agent, Joint Lead Arranger and Joint Bookrunner on a recurring revenue loan facility to support the LBO and merger of three market-leading social good platforms (EveryAction, Social Solutions and CyberGrants) and provided additional committed capital to support future M&A
  • Closed over 70 lower middle market transactions in industries including software, veterinary care, restaurants, specialty retail and financial services3
  • Delivered distinctive execution of complex, time-sensitive syndicated transactions, including a fully underwritten $1.5+ billion unitranche facility to Parts Town

About Golub Capital Sponsor Finance
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 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.

  1. Preliminary results are good faith estimates based on available data as of January 4, 2022. Actual data may differ materially from final closing numbers.
  2. Represents the 2021 default rate of all first lien Middle Market leveraged loans managed by Golub Capital as of December 31, 2021 based on preliminary data available as of January 4, 2022. It does not represent the performance of any specific portfolio or fund managed by Golub Capital or its affiliates. Past performance does not guarantee future results. The Default Rate of Total First Lien Middle Market Leveraged Loans is defined as (a) the aggregate principal amount of first lien middle market leveraged loans on a cost basis that are classified as Defaults during the calendar year divided by (b) the aggregate principal amount of first lien middle market leveraged loans outstanding at the end of the period. A loan is classified as a Default if (a) there is an uncured payment default with respect to principal or interest or (b) if the loan has been restructured with a full or partial debt-for-equity exchange.
  3. Defines lower middle market as companies with less than $35 million EBITDA.
Media Contact
Aleka Bhutiani, Director of Strategic Communications

Golub Capital Sets New Records for Deal Activity in 2021

Press Release
January 10, 2022
Media Contact
Aleka Bhutiani, Director of Strategic Communications