NEW
YORK, Feb. 6, 2023 /PRNewswire/
-- WhiteHorse Finance, Inc. ("WhiteHorse Finance" or
the "Company") (Nasdaq: WHF) today announced that the Company,
together with State Teachers Retirement System of Ohio, a public pension fund established under
Ohio law ("STRS Ohio"), have
increased their capital commitments to their joint venture, WHF
STRS Ohio Senior Loan Fund LLC (the "WHF STRS JV"), by $25 million. The increased commitment will
be funded by an incremental $15
million investment from WhiteHorse Finance and an
incremental $10 million investment
from STRS Ohio bringing total capital commitments to the WHF STRS
JV to $175 million.
"We are pleased to continue growing our successful partnership
with STRS Ohio through increased commitments to our joint venture,
which has produced a healthy return on equity to WhiteHorse
Finance," said Stuart Aronson, Chief
Executive Officer, WhiteHorse Finance. "We believe our
investment in the joint venture provides attractive returns for our
shareholders and is particularly relevant given the current market
backdrop. Combined with higher base rates and our strong
origination pipeline, we expect our incremental investment to be
accretive and allow us to increase our diversification into
lower-risk assets and advance our goal of enhancing shareholder
value while providing financing solutions to our borrowers and
sponsor clients alike."
The WHF STRS JV was established in 2019 to invest primarily in
lower middle market senior secured debt facilities. Since
inception, the value of the WHF STRS JV portfolio has grown to over
$280 million and consisted of 28
portfolio companies with a total portfolio weighted average
effective yield of 10.1% as of September 30,
2022.
About WhiteHorse Finance, Inc.
WhiteHorse
Finance is a business development company that originates and
invests in loans to privately held, lower middle market companies
across a broad range of industries. The Company's investment
activities are managed by H.I.G. WhiteHorse Advisers, LLC, an
affiliate of H.I.G. Capital, LLC, ("H.I.G.
Capital"). H.I.G. Capital is a leading global alternative
asset manager with over $53 billion of capital under
management* across a number of funds focused on the
small- and mid-cap markets. For more information about H.I.G.
Capital, please visit http://www.higcapital.com. For
more information about the Company, please visit
http://www.whitehorsefinance.com.
Forward-Looking Statements
This press release may
contain "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Statements other
than statements of historical facts included in this press release
may constitute forward-looking statements and are not guarantees of
future performance or results and involve a number of risks and
uncertainties. Actual results may differ materially from those in
the forward-looking statements as a result of a number of factors,
including those described from time to time in filings with the
SEC. The Company undertakes no duty to update any forward-looking
statement made herein. All forward-looking statements speak only as
of the date of this press release.
Contacts
Stuart
Aronson
WhiteHorse Finance, Inc.
212-506-0500
saronson@higwhitehorse.com
Joyson Thomas
WhiteHorse Finance, Inc.
305-379-2322
jthomas@higwhitehorse.com
Robert Brinberg
Rose & Company
212-257-5932
whitehorse@roseandco.com
Source: WhiteHorse Finance, Inc.
* Based on total capital commitments managed by H.I.G. Capital
and affiliates.
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SOURCE WhiteHorse Finance, Inc.
