Dechert Advises Alcentra Capital on Crescent BDC Acquisition
August 14, 2019
Dechert LLP acted as legal counsel to Alcentra Capital Corporation (NASDAQ:ABDC), a middle-market business development company managed by Alcentra NY, LLC, on its agreement to be acquired by Crescent Capital BDC, Inc., a business development company externally managed by Crescent Cap Advisors, a subsidiary of Crescent Capital. The transaction establishes a top-15, externally managed, publicly traded BDC with over US$500 million of net assets and a portfolio in excess of US$900 million at close. The transaction is subject to customary approvals and conditions and is expected to close in the fourth quarter of 2019.
The Dechert team advising Alcentra Capital is led by corporate partners Harry Pangas and Gregory Schernecke, with assistance from corporate associates Ross MacConnell, Clay Douglas, Madeleine Williams, Yitian Jin and Carly Robinson, as well as tax partner Ari Zak and tax associate Mansi Seth.
About Dechert
Dechert is a leading global law firm with 26 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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