BC Partners Credit to Buy Runway Growth Capital

Dow Jones11-01

By Josh Beckerman

The credit arm of private-equity firm BC Partners agreed to buy venture debt firm Runway Growth Capital.

Closing is expected in the fourth quarter.

Runway Growth Capital will remain the investment adviser to funds including the closed-end investment fund Runway Growth Finance, which is regulated as a business development company.

In addition to its Runway Growth deal, BC Partners Credit entered a strategic alliance with Piper Sandler.

Piper Sandler said that "Since the Federal Reserve's historic rate-hiking campaign and the multiple bank failures in the spring of 2023, it has become significantly more challenging for small-cap, mid-cap, and privately-owned banks, as well as non-bank financial companies, to execute debt capital market financings."

Ted Goldthorpe, head of BC Partners Credit, joined London-based BC Partners in 2017 to start its lending and debt-trading operation.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

October 31, 2024 18:58 ET (22:58 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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