LOS ANGELES, Oct. 5, 2023 - Today marks a pivotal day for Avante Capital Partners ("Avante"), a woman- and minority-owned private credit firm with a unique team and proven investment strategy in the lower middle market. Avante has entered into a strategic partnership with Pacific Current Group Limited (ASX: PAC, Pacific Current), a boutique investment firm specializing in partnering with best-in-class asset managers through strategic minority stake investments.
Partnering with Pacific Current Group will provide Avante with the resources to expand its product suite, offering comprehensive debt and structured equity solutions for sponsored and non-sponsored companies in resilient industries. Products will include senior stretch, unitranche, mezzanine, and second lien debt alongside minority equity for companies with $3mm - $25mm in EBITDA. Avante's founders and principals will maintain their decision-making authority and operating roles, ensuring strategic continuity and seamless day-to-day operations for Avante.
"Avante has demonstrated the competitive advantage derived from diversity and innovation in the private markets and we have leveraged these principles to build a strong track record with no loan losses since our inception in 2009," says Jeri Harman, Founder of Avante. "My partners – Ivelisse Rodriguez Simon, Paul Hayama and Cliff Lyon – and I have been diligently working together for 14 years to build an institutional firm to last beyond us. This partnership with PAC propels us further ahead, enabling us to amplify our reach and impact in the industry while continuing to focus on driving superior returns."
"Avante is recognized as one of the most established credit managers in the lower middle market. Their unique sourcing strategy and stellar track record, along with their proven team and diverse base of prominent limited partners, makes them highly differentiated in the space," remarked Paul Greenwood, CEO and CIO of PAC. "The lower middle market is a target-rich environment with significant growth potential. We are committed to leveraging our capital, expertise and network to help Avante scale its firm and expand its impact."
"Our primary focus is achieving best-in-class returns for our investors; we are relentless in the constant pursuit of that goal," noted Ivelisse Rodriguez Simon, Managing Partner of Avante. "Our partnership with PAC will not only accelerate our growth but also enable us to double down on our mission of promoting diversity and inclusivity. Through our many impact initiatives, we are changing the face of private credit by encouraging, supporting, and welcoming women and people of color to our industry. We are grateful to our limited partners, sponsor clients, advisors, mentors, and friends who helped us achieve this significant milestone. We look forward to embracing the opportunities and continued growth that lie ahead for us and truly couldn't be more excited and humbled to partner with the amazing team at PAC!"
Ardea Partners served as the exclusive financial advisor to Avante on this transaction. Foley & Lardner LLP served as legal advisor to Avante and Carter Ledyard & Milburn LLP served as legal advisor to Pacific Current Group.
CONTACT
For Investor & Enquiries, please contact:
Susan Black-Beth, COO of Avante Capital Partners at susan@avantecap.com
ABOUT AVANTE CAPITAL PARTNERS
Avante Capital Partners is a woman- and minority-owned private credit and structured equity investment management firm. Avante invests in unitranche debt, 2nd lien debt, mezzanine debt and minority equity of high-quality, lower middle market businesses generating a minimum of $3 million in cash flow. www.avantecap.com
ABOUT PACIFIC CURRENT GROUP
Pacific Current Group is a multi-boutique asset management firm dedicated to providing exceptional value to shareholders, investors, and partners. We apply our strategic resources, including capital, institutional distribution capabilities and operational expertise to help our partners excel. Including Avante, Pacific Current Group has investments in 17 firms globally. www.paccurrent.com
SOURCE Avante Capital Partners
