Business Development Corporation of America Acquires Siena Capital Finance LLC
February 22, 2019
Dechert LLP advised Business Development Corporation of America (“BDCA”), an affiliate of Benefit Street Partners L.L.C., in connection with its acquisition of a controlling interest in Siena Capital Finance LLC (“Siena”) from Solaia Capital Advisors LLC (“Solaia”).
BDCA is a non-traded business development company with a $2.5 billion investment portfolio, which primarily consists of loans to middle market companies. Siena is a leader in the asset-based lending business and the
investment complements BDCA’s core private debt business and broadens the suite of financing solutions available to its clients.
The Dechert team advising BDCA included corporate partners Thomas Friedmann, Ken Young and Michael Darby with associates Avryl Klich, Colleen Mallick; finance partner Jay Alicandri with associate Ben Leese; financial services partner David Harris with associate Jonathan Gaines; tax partner Steve Clemens; employee benefits partner Eric Rubin with associates Ellie Kang and Aryeh Zuber; and labor associates Jeff Rubin and Rhiannon DiClemente.
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Dechert is a leading global law firm with 27 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.
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