CION Acquires Credit Suisse BDC for US$277 Million

A multi-disciplinary team of Dechert LLP lawyers led by financial services partners Richard Horowitz and Matthew Kerfoot represented CION Investment Corporation in its acquisition of Credit Suisse’s business development company, Credit Suisse Park View BDC, Inc.

CION, through an acquisition subsidiary, Park South Funding, acquired one hundred percent of the common stock of CS Park View from Credit Suisse Alternative Capital, LLC. Customary representations, warranties and covenants of Park South and Credit Suisse Alternative Capital are included in the terms of the purchase agreement. The agreement is a cash transaction valued at approximately US$277 million, and the acquisition closed September 30, 2016.

Also on the matter were partners William Bielefeld (Financial Services), Stephen Leitzell (Corporate), Thomas Friedmann (Corporate), Jeffrey Sion (Tax), as well as associates Leonard Kim (Financial Services), Ross MacConnell (Corporate) and Jay Buchman (Tax).

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