Capital One has led a $190m secured credit facility to aid the recapitalisation of Situs Holdings by Stone Point Capital.
Situs is an end-to-end business solution and integrated technology developer for a selection of financial services. The platform can generate insights to the marketplace, evaluating the asset and loan underwriting, debt and equity due diligence, and valuation advisory.
Clients can also optimise their capital raising efforts, as well as their data analytics efforts by offering deeper insights in to the space. Industries using Situs’ solution include banks, capital markets, private equity and funds, REITS, governments, insurance firms and asset managers.
Since its foundation in 1985, the company has been involved in more than $1tn of real estate debt and equity deals across the US, Europe and Asia.
Stone Point Capital initially acquired Situs from Ranieri Partners and WL Ross & Co for an undisclosed amount in 2015. Through the partnership, the company hoped to gain access to Stone Point’s network and seize upon growth opportunities.
Situs CEO Steve Powel said, “We’ve worked with Capital One before, so it was no surprise to us that they were able to provide the competitive financing and strategic counsel we needed,”. “It’s clear they understand our business and our goals.”
Capital One is a financing, banking and capital markets service provider to middle market private equity firms. The group offers customised financing solutions such as acquisition financing, refinancing, recapitalisations and working capital support.
Last year, Stone Point exited its stake in lending and advisory platform Access Point Financial, selling to WCP Investments for over $350m.
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