TORONTO, Oct. 15, 2018 /CNW/ - Bridging Finance Inc. ("Bridging Finance") and Ninepoint Partners LP ("Ninepoint") are pleased to announce the completion of the previously disclosed acquisition by Bridging Finance of Ninepoint's rights and obligations under the existing co-management agreements for the funds known as the "Ninepoint Bridging Income Fund LP" (the "Partnership") and the "Ninepoint Bridging Income RSP Fund" (the "Trust," collectively with the Partnership, the "Fund"), and Ninepoint's ownership interest in SB Fund GP Inc., which is the general partner of the Partnership (the "Transaction").
"With the strong support of the unitholders of the Trust, we are thrilled to announce the successful closing of the Transaction and the appointment of Bridging Finance as the sole manager of the Fund," said David Sharpe, Chief Executive Officer of Bridging Finance. "This represents a great milestone for the continued growth of Bridging Finance. We look forward to further success for the fund as one of the preeminent private debt funds in Canada," added David Sharpe.
In connection with the Transaction, Raymond James Ltd. and Wildeboer Dellelce LLP acted as exclusive financial advisor and legal counsel to Bridging Finance, while INFOR Financial Inc. and Norton Rose Fulbright Canada LLP acted as exclusive financial advisor and legal counsel to Ninepoint.
About Bridging Finance Inc.
Established in 2012, Bridging Finance is one of Canada's leading alternative credit investment management firms and currently manages approximately $1 billion of assets. Bridging Finance provides middle-market North American companies with alternatives to the financing options offered by traditional lenders. Lending proceeds, typically ranging from $3 million to upwards of $50 million, are used by companies to address needs such as restructuring existing debt, providing working capital for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts.
About Ninepoint Partners LP
Based in Toronto, Ninepoint Partners LP is one of Canada's leading alternative investment management firms overseeing approximately $3 billion in assets under management. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies including North American Equity, Global Equity, Real Assets & Alternative Income.
SOURCE Bridging Finance Inc.
For further information: for further information on Bridging Finance Inc., please visit us at www.bridgingfinance.ca or please contact us at (416) 640-8965 or (888) 920-9598 or by email at [email protected] or [email protected]; for more information on Ninepoint Partners LP, please visit www.ninepoint.com or please contact us at (416) 943-6707 or (866) 299-9906 or [email protected]