Maranon Capital has held a final close of Maranon Senior Credit Fund II at its target level of $330 million. Leverage for the new fund was provided via a credit facility arranged and agented by SunTrust Bank. Maranon has already begun deploying capital out of the new fund with the close of four new senior debt investments.
“The successful close of Senior Credit Fund II represents an exciting opportunity to expand the scale and range of financing solutions Maranon can offer,” said Rich Jander, a managing director of the firm. “Since 2008, Maranon has provided more than $600 million of senior financing to companies backed by many of the top-tier private equity firms in the middle market. We now have meaningful incremental capacity for additional senior term, unitranche and second lien transactions.”
In tandem with the close of the new fund, Maranon has hired Anuj Aggarwal who joins the firm as an associate on the investment team, and Aaron Simkovich who joins Maranon’s operations team as controller.
Mr. Aggarwal joins Maranon from BMO Capital Markets where he was a member of the leveraged finance and investment banking groups. He earned his BS in Finance from the University of Illinois.
As controller, Mr. Simkovich leads Maranon’s accounting function where he is responsible for managing external audits as well as loan operations and financial analysis. Prior to joining Maranon, he was with TA Associates and State Street Corp. Mr. Simkovich earned an MBA from Boston University School of Management and a BA in economics from Yeshiva University.
Maranon Capital provides senior financing, mezzanine debt and equity co-investments for private equity-backed and non-sponsored middle market transactions. The firm is currently managing over $830 million of committed capital. Maranon has offices in Chicago, IL; Birmingham, MI (near Detroit) and South Bend, IN (www.maranoncapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 10-31-13