Olympus Partners is pleased to announce its investment in Neptune Finance CCS, Ltd., a vehicle created to purchase approximately $275 million in senior secured debt. Neptune is investing in a highly diverse portfolio of senior secured loans with the goal of capitalizing on attractive market prices currently available.
Paul Rubin of Olympus Partners commented, “We believe the turmoil of the last year in the credit markets has created an opportunity to achieve attractive risk adjusted returns on the senior secured debt securities issued by lenders and companies familiar to us from our traditional private equity investing.”
This investment is a continuation of Olympus’ focus on financial services transactions which have accounted for approximately 25 percent of its capital invested over the life of its funds. Other financial services investments have included insurance and reinsurance carriers (Ariel Re, Talbot Underwriting, Aspen Re, Tempest Re), insurance brokerage (Tanenbaum-Harber) and banks (Country Banc, Eldorado Bank).
Olympus has partnered with Gulf Stream Asset Management, a Charlotte-based independent asset management firm with approximately $3.8 billion of assets under management, on this investment.
Lehman Brothers served as placement agent for the transaction. Kirkland & Ellis provided legal advice to Olympus Partners.
Founded in 1988, Olympus Partners is a Stamford, Connecticut-based private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus is an active, long-term investor across a broad range of industries, including healthcare services, financial services, consumer products and business services.
Olympus manages more $3.1 billion on behalf of 50 blue-chip investors including corporate pension plans, state retirement systems and university endowment funds.