Garrison Capital and BDC Portman Ridge to merge
Middle market investment specialist Garrison Capital is set to merge with business development company (BDC) Portman Ridge Finance Corporation.
Portman Ridge is a publicly traded BDC externally managed by Sierra Crest Investment Management, an affiliate of BC Partners and LibreMax Capital.
Upon closing of the merger, Portman Ridge will assume Garrison’s on-balance sheet CLO liabilities. The merger is expected to close in the fourth quarter of 2020.Portman ...