RLJ Credit Management has closed RLJ Credit Opportunity Fund I, LP. With the closing of this Fund, RLJ Credit now has approximately $135 million in assets under management.
“RLJ Credit and its limited partners are pleased that, in cooperation with the SBA, we have created one of the largest minority-owned SBIC Funds. Under the direction of Trevoir Gregg, Co-Founder and Managing Partner, we are confident that RLJ Credit will generate significant returns on assets and become one of the preeminent funds for senior debt and subordinated debt investments in lower middle market companies,” said Robert Johnson, Founder and Chairman of The RLJ Companies.
RLJ Credit provides subordinated debt, unitranche and minority equity capital for sponsored and non-sponsored leveraged buyouts, acquisitions, recapitalizations and growth initiatives for small and mid-sized businesses throughout the United States. Typical targets will have revenues of at least $10 million and EBITDA of $3 million to $20 million. Sectors of interest include business services, manufacturing and industrial, value-added distribution, and consumer. RLJ Credit is headquartered in Bethesda, MD (www.rljcredit.com).
“RLJ Credit is committed to generating attractive investment returns for its limited partners by supporting U.S. small businesses,” said Trevoir Gregg. “Lower middle-market companies are essential to the overall health of our domestic economy. In addition to forming the basis for job growth and healthier communities, lower middle-market companies are very good areas in which to invest.”
RLJ Credit Management is part of The RLJ Companies, a holding company with a diverse portfolio including hotel real estate investment; private equity; financial services; asset management; automobile dealerships; sports and entertainment; and gaming. The RLJ Companies was founded by Robert L. Johnson, the founder and chairman of Black Entertainment Television. The RLJ Companies are headquartered in Bethesda, MD (www.rljcompanies.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 2-14-14
