Bridging Finance Inc. Announces the Launch of the Bridging Mid-Market Debt Fund LP
Oct 04, 2017, 08:50 ET
TORONTO, Oct. 4, 2017 /CNW/ - Bridging Finance Inc. ("Bridging Finance" or the "Company") is pleased to announce the launch of its newest product, the Bridging Mid-Market Debt Fund LP (the "Bridging Mid-Market Debt Fund") which will be available as of October 20, 2017 through the IIROC dealer channel on FundSERV.
"Bridging Finance is currently experiencing significant growth and continues to establish itself as a leading provider of non-distressed private debt financing in Canada. Accordingly, the addition of the Bridging Mid-Market Debt Fund to the suite of products offered by Bridging Finance will allow us to better serve the financial advisor community with a product normally reserved for institutional investors, while assisting companies seeking alternative financing in North America," said David Sharpe, Chief Executive Officer of the Company.
The Bridging Mid-Market Debt Fund's management team features personnel with approximately 180 years of various credit and business experience. "We are thrilled with the launch of the Bridging Mid-Market Debt Fund which will serve as an excellent complement to the Sprott Bridging Income Fund LP ("SBIF"), a fund co-managed by Bridging Finance with assets under management of approximately $500 million. The borrowers within SBIF are typically transitioning businesses with a focus on near term exits, whereas the borrowers within the Bridging Mid-Market Debt Fund will be looking for longer-term capital," said Natasha Sharpe, Chief Investment Officer of the Company. "We believe this area of the market is underserved and the launch of this new product will allow us to expand our portfolio by offering to eligible mid-market companies an alternative to lower their cost of capital," added Natasha Sharpe.
The goal of the Bridging Mid-Market Debt Fund will be to provide financial advisors and their clients with access to consistent, low volatility and non-correlated yield to the public markets.
About Bridging Finance Inc.
Established in 2012, Bridging Finance is a privately held Canadian company providing 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. Bridging Finance is the co-manager of the Sprott Bridging Income Fund LP and the Sprott Bridging RSP Fund, which invest in factoring/private debt loans that have a low correlation to traditional asset classes. Bridging Finance also offers portfolio management services for institutional clients and currently manages approximately $600 million of assets.
The units of the Bridging Mid-Market Debt Fund (the "Units") will not be qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the Units in Canada will be made on a basis that is exempt from the prospectus requirements of such securities laws and only through registered dealers.
This news release shall not constitute an offer to sell the Units or the solicitation of an offer to buy the Units, nor will there be any sale of the Units, in any jurisdiction where such offer, solicitation or sale is not permitted.
SOURCE Bridging Finance Inc.
For further information: David Sharpe, LLB, LLM, MBA, Chief Executive Officer, Bridging Finance Inc., T: (416) 642-7572 | C: (647) 981-5658, [email protected]