Key Takeaways
- • ACME Credit Partners LLC, a newly launched New York-based credit-focused investment firm, will provide creative liquidity solutions to the lower middle market, according to a Business Wire announcement.
- • The firm will offer senior secured structures from $10 million to $150 million to non-sponsor and sponsor-backed companies with $5 million or more in EBITDA, via term loans, last-out tranches, revolvers and bridge loans.
- • ACME is led by Peter Eschmann and Jay Rogers, both former Managing Directors at Cerberus Capital Management, with Charles Widger, an industry veteran, serving as Chairman.
- • Founders cite 250+ credit investments totaling more than $10 billion and a combined 50+ years of credit market experience at premier North American asset managers.
- • ACME is actively recruiting additional senior-level management as it evaluates opportunities and deploys its investable capital.
Summary
ACME Credit Partners LLC, a newly launched New York-based credit-focused investment firm, has announced an investment strategy targeting lower middle-market opportunities, according to a Business Wire release dated October 5, 2023. The firm says it will provide creative liquidity solutions to complex, stressed situations and out-of-favor sectors, investing in both cash-flow and asset-backed financings.
The firm is led by Peter Eschmann and Jay Rogers, both former Managing Directors at Cerberus Capital Management, along with Charles Widger, an industry veteran who serves as Chairman. The company describes its founders as having been involved in 250+ credit investments totaling in excess of $10 billion over a combined 50+ years of credit market experience at premier North American asset managers across multiple credit cycles.
ACME plans to support a broad range of liquidity events, including working capital financing, growth capital, restructurings, leveraged buyouts, add-on acquisitions, rescue capital, debtor-in-possession (DIP) financings and exits. It will provide senior secured structures ranging from $10 million to $150 million to non-sponsor and sponsor-backed companies with $5 million or more in EBITDA, using term loans, last-out tranches, revolvers and bridge loans.
The announcement cites the private credit market's expansion, which it puts at over $1.3 trillion in assets under management, as an alternative to traditional commercial banking offering greater flexibility, speed to close and more aligned terms and covenants. Managing Partner Jay Rogers said the firm has received strong support from its investor base and is developing its team while evaluating opportunities and deploying investable capital. Managing Partner Peter Eschmann said the firm expects its opportunistic approach to benefit partner companies and investors regardless of market conditions. ACME is also actively seeking additional senior-level management hires.
The release does not disclose fund size, fund close figures or specific investor commitments.
The firm is led by Peter Eschmann and Jay Rogers, both former Managing Directors at Cerberus Capital Management, along with Charles Widger, an industry veteran who serves as Chairman. The company describes its founders as having been involved in 250+ credit investments totaling in excess of $10 billion over a combined 50+ years of credit market experience at premier North American asset managers across multiple credit cycles.
ACME plans to support a broad range of liquidity events, including working capital financing, growth capital, restructurings, leveraged buyouts, add-on acquisitions, rescue capital, debtor-in-possession (DIP) financings and exits. It will provide senior secured structures ranging from $10 million to $150 million to non-sponsor and sponsor-backed companies with $5 million or more in EBITDA, using term loans, last-out tranches, revolvers and bridge loans.
The announcement cites the private credit market's expansion, which it puts at over $1.3 trillion in assets under management, as an alternative to traditional commercial banking offering greater flexibility, speed to close and more aligned terms and covenants. Managing Partner Jay Rogers said the firm has received strong support from its investor base and is developing its team while evaluating opportunities and deploying investable capital. Managing Partner Peter Eschmann said the firm expects its opportunistic approach to benefit partner companies and investors regardless of market conditions. ACME is also actively seeking additional senior-level management hires.
The release does not disclose fund size, fund close figures or specific investor commitments.
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