Covenant Review Acquires PacerMonitor

Fixed income research firm expands to provide bankruptcy and federal litigation court filings

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Oct 14, 2015, 08:00 ET

NEW YORK, Oct. 14, 2015 /PRNewswire/ -- Covenant Review, the authority on bond and loan covenants, and its majority shareholder, Leeds Equity Partners, the New York-based private equity fund focused exclusively on investing in the Knowledge Industries, announced today the acquisition of PacerMonitor. Terms of the transaction were not disclosed.

PacerMonitor has revolutionized the way legal and financial professionals research and manage bankruptcy and federal litigation proceedings. PacerMonitor provides a powerful, full-featured, yet easy-to-use research tool that enables professionals to stay current on important cases across 200+ federal bankruptcy, district, and appellate court jurisdictions. Customers save time and deliver better service to their clients by leveraging PacerMonitor's proprietary alert technology, personalized case dashboard, full-text searching, and integrated smartphone and tablet apps. PacerMonitor saves subscribers money by providing free access to millions of pages of documents, eliminating duplicate docket and filing purchases, and automatically downloading and managing case participants' "free-look" documents.

PacerMonitor was founded in 2011 by Joe Rosen, a corporate restructuring specialist and technology entrepreneur. Mr. Rosen will continue to lead the expansion of the PacerMonitor business. Monica Jamaluddin, a former restructuring investment banker and advisor to venture-backed startups, has been named head of operations.

Covenant Review CEO Adam Cohen explained, "The acquisition of PacerMonitor helps us expand our solution set for investors, lawyers, and other market participants who need to track restructurings and litigations. This transaction furthers the vision that we share with Leeds Equity to bring dramatic improvements in efficiency and understanding to situations where legal rights and processes are critical."

Mr. Rosen commented, "Anyone who has spent time using the government's PACER system, or the difficult and expensive solutions from mainstream legal service providers, immediately recognizes the value of PacerMonitor. Based on the extensive experience of our team as practitioners, PacerMonitor has been designed from the ground up to allow our highly skilled legal and financial customers to do more with their valuable time, and provide the highest level of service to their clients. We are excited to join forces with the Covenant Review team, and we look forward to showing more professionals how they can get better results with less effort and time by using PacerMonitor."

About Covenant Review

Covenant Review is relied upon by fixed income professionals worldwide as the authority on bond and loan covenants. Customers use Covenant Review's services as risk management tools, sources of investment ideas, benchmarking tools to compare deal structures, and investment process and workflow management solutions. Covenant Review also owns CapitalStructure, an independent provider of insightful, first-to-market news on and analysis of the European sub-investment grade universe.

About Leeds Equity Partners:

Leeds Equity Partners, LLC, is a New York-based private equity firm focused exclusively on investing in the education, information services, software, technology-enabled business services and training industries (the "Knowledge Industries"). The firm was founded by Jeffrey T. Leeds and Robert A. Bernstein in 1993 and has raised and managed more than $1.1 billion of capital across five funds.

The Board of Advisors of Leeds Equity Partners includes: Chairman General Colin L. Powell, former Secretary of State, National Security Advisor and Chairman of the Joint Chiefs of Staff; Vice Chairman Gaston Caperton, a former President of the College Board and a former two-term Governor of West Virginia; Tim J. Fitzpatrick, the former CEO of Sallie Mae Corporation; Thomas F. ("Mack") McLarty III, President of McLarty Associates and former White House Chief of Staff under President William J. Clinton; Dr. Barry A. Munitz, former Chancellor of the California State University school system and CEO of the J. Paul Getty Trust; Guillermo Nigaglioni, President and CEO of Instituto de Banca y Comercio, Inc.; Richard W. Riley, former Secretary of Education under President William J. Clinton and two-term Governor of South Carolina; Alec Ross, former Senior Advisor for Innovation to former Secretary of State Hillary Clinton; and Timothy P. Shriver, Chairman of the Board of the Special Olympics.