Pathlight Capital, a US private credit asset manager, is serving as the administrative agent on a $210m (£158.3m) senior secured credit facility for Spring Venture Group.
Spring Venture Group (SVG) is a distributor of Medicare Advantage and leading Medicare Supplement distributor.
As part of the facility, Pathlight underwrote and provided a $170m term loan.
Proceeds from the facilities will be used to refinance existing debt and provide liquidity for general corporate purposes.
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“We believe SVG is well-positioned to continue as a market leader in the Medicare Advantage and Medicare Supplement brokerage sector, led by a top-tier management team,” said Tyler Harrington, managing director at Pathlight.
“The transaction process with Pathlight has been seamless and we are thrilled to have them as a key financial partner to help SVG fund its next phase of growth,” said SVG’s chief executive Chris Guliani.
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“It’s been a pleasure working with the team at SVG and their private equity sponsor, Corsair Capital,” added Christopher Arnold, managing director at Pathlight.
“We are happy to partner with both parties and provide a bespoke financing solution against a portfolio of financial assets.”
Pathlight Capital is a private credit investment manager that provides asset-based loans secured on a first or second lien basis against tangible and intangible assets.
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