Fifth Street, Kemper subsidiary jointly form Senior Loan Fund JV I

By Toni Weeks

San Luis Obispo, Calif., May 7 - Fifth Street Finance Corp. announced it has formed a joint venture with Kemper Corp. subsidiary Trinity Universal Insurance Co. to create Senior Loan Fund JV I, LLC.

The joint venture is expected to invest primarily in middle-market and other corporate debt securities, according to a press release and filing with the Securities and Exchange Commission.

Fifth Street will contribute $87.5 million and Trinity $12.5 million to invest in subordinated notes and equity. The fund also intends to seek up to $200 million of third-party financing and will initially be funded with existing assets contributed by Fifth Street.

White Plains, N.Y.-based Fifth Street provides financing solutions to small and mid-sized companies via one-stop financings, equity co-investments and first-lien, second-lien and mezzanine debt. Kemper is a Chicago-based insurance company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.