NEW YORK, Oct. 18, 2018 /PRNewswire/ -- Flat Rock Capital Corp. announced today that it has entered into a $20 million financing facility with AloStar Capital Finance, a division of State Bank and Trust Company.
“We are excited to complete another milestone transaction in the growth of Flat Rock Capital that increases our ability to finance the growth of middle market businesses throughout the U.S.” said Robert Grunewald, CEO of Flat Rock Global. “We are pleased that AloStar has chosen to partner with us in our mission to deliver an attractive dividend yield to investors through investments in first lien, floating rate, middle market loans”.
Richard Petrocelli, Chief Operating Officer of Flat Rock Capital Corp. added, “We believe Flat Rock Capital Corp.’s ability to raise debt financing from an independent financial institution further demonstrates our position as a leading originator and underwriter of middle market debt and is a reflection of the quality of our loan portfolio and our management team.”
About Flat Rock Capital Corp.
Flat Rock Capital is a specialty finance company that provides financing solutions to U.S. middle-market businesses. The Company invests in first liens loans to U.S. middle market businesses to provide financing for change of ownership transactions, strategic acquisitions, recapitalizations and growth initiatives in partnership with business owners, management teams and financial sponsors. Flat Rock Capital's objective is to preserve capital while generating current income from its debt investments. Flat Rock Capital has elected to be regulated as a business development company ("BDC") under the Investment Company Act of 1940 and is externally-managed by Flat Rock Global, LLC, an SEC-registered investment advisor focusing on credit-driven strategies.
About Flat Rock Global, LLC
Flat Rock Global is an alternative credit manager, delivering to RIAs, family offices and institutional investors, yield driven investment strategies, in less efficient sectors of the market, through an industry leading “Investor First” fee structure.
Flat Rock Global is also the investment advisor to Flat Rock Opportunity Fund, an interval fund investing predominantly in CLO equity.
To learn more about the firm, please visit www.flatrockglobal.com
About AloStar Capital Finance
AloStar Capital Finance provides capital and counsel to business leaders across America who are creating their own success stories. Through our Asset-Based and Lender Finance platforms, we create customized lending solutions for customers with capital requirements up to $60 million. To date, AloStar has closed more than 180 deals with commitments totaling more than $2.3 billion. At AloStar, you'll have direct access to decision makers with deep capital industry experience who are responsive, flexible and eager to help you write your success story.
AloStar Capital Finance is a division of State Bank and Trust Company, Member FDIC. For more information, visit www.AloStarBank.com
SOURCE Flat Rock Global, LLC
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