WhiteHorse Capital Provides Senior Secured Term Loan to Tourmaline Partners, LLC
CHICAGO – June 17, 2020 – WhiteHorse Capital, the direct lending affiliate of H.I.G. Capital, a leading global private equity and alternative assets investment firm with $37 billion of equity capital under management, provided a senior secured term loan in support of Copley Equity Partners’ majority ownership investment in Tourmaline Partners (“Tourmaline”), one of the world’s leading outsourced trading solutions firm. Copley Equity Partners (“Copley”) is a private investment firm that focuses on established businesses with significant growth prospects.
“Copley is pleased to partner with WhiteHorse on our investment in Tourmaline. Over the course of the investment process, the WhiteHorse team has proven to be knowledgeable of Tourmaline’s sector and demonstrated a commitment to helping the Tourmaline team achieve their long-term growth initiatives. With the addition of WhiteHorse, we feel Tourmaline is well positioned to build on its leadership position providing global outsourced trading solutions to investment managers,” says Peter Trovato, Managing Partner at Copley.
“Throughout this process, we’ve appreciated the care and professionalism of the WhiteHorse team,” said Aaron Hantman, CEO of Tourmaline. “Tourmaline was built on a unique business model and it has been important to us that our partners share our commitment to clients and to doing things the right way. WhiteHorse’s knowledge and ability to execute were impressive every step of the way.”
John Yeager, Managing Director at WhiteHorse Capital, added, “We are excited to partner with Copley and provide them financing in support of their investment in Tourmaline. We look forward to working with Tourmaline and the management team as they execute their growth strategy.”
About Tourmaline Partners
Founded in 2011, Tourmaline Partners provides tailor‐made services to more than 300 institutional investor clients including hedge funds and asset managers of all sizes. Through continuous investment in technology and human capital, a singular focus on trading, and non‐competitive relationships with more than 400 global brokers, Tourmaline provides clients with access to unparalleled liquidity, market intelligence and customized workflows for defining, measuring and achieving best execution.
About Copley Equity Partners
Copley Equity Partners is a private investment firm with offices in Boston and Denver. Copley partners with established lower middle-market businesses with significant growth prospects. Copley invests in companies across a broad range of sectors and is comfortable in both majority and minority ownership positions. Copley invests out of an evergreen, single-family office, capital base making the firm agnostic to the standard private equity fundraising cycle. Copley’s patient and flexible capital base allows the firm to focus on providing each portfolio company significant support post investment.
About WhiteHorse Capital
WhiteHorse is the direct lending affiliate of H.I.G. Capital, a leading global private equity and alternative assets investment firm with $37 billion of equity capital under management.* WhiteHorse provides debt financing to middle market companies across a broad range of industries, including business services, manufacturing, healthcare, retail, food/agriculture, and specialty finance. WhiteHorse has a broad investment mandate and provides senior and subordinated debt for refinancings, growth capital, acquisitions, buyouts, and balance sheet recapitalizations. WhiteHorse professionals, across the U.S. and Europe, have extensive experience and a proven track record of providing creative financing structures and employing a long-term relationship oriented portfolio management philosophy.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.