MidCap Financial Gets $800 Million in Fresh Equity

Posted on 04/23/2021

MidCap Financial, LLC is a middle market-focused, specialty finance firm that provides senior debt solutions to companies across all industries. As of December 31, 2020, MidCap Financial provides management or other services for over US$ 29.8 billion of commitments, of which US$ 5 billion is managed by MidCap Financial Services Capital Management LLC, a registered investment advisor. MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc.

MidCap Financial has raised more than US$ 800 million of new equity from a diverse group of global investors that included Apollo clients, including Athene Holding Ltd. as well as pensions, sovereign wealth funds, and other leading institutions. The US$ 800 million equity raise follows MidCap’s more than US$ 2 billion capital raise in 2016, which included commitments from Athene, Apollo and a number of Apollo LPs.

On November 18, 2013, Apollo acquired MidCap Financial, which then was a healthcare oriented commercial finance company focused on the middle market in the United States. MidCap’s earlier investors prior to Apollo buying it out were Thomas H. Lee’s Lee Equity Partners LLC, Genstar Capital LLC, and Moelis Capital Partners.

    Get News, People, and Transactions, Delivered to Your Inbox