Solar Senior Capital Ltd. and Solar Capital Ltd. Announce Bruce Spohler Named Co-CEO
June 11 2019 - 4:00PM
Solar Capital Ltd. (“Solar Capital”) (NASDAQ-GS: SLRC) and Solar
Senior Capital Ltd. (“Solar Senior Capital”) (NASDAQ-GS: SUNS)
(together “the Companies”) today announce that Bruce Spohler has
been named Co-Chief Executive Officer of Solar Capital and Solar
Senior Capital, effective immediately. Michael Gross, current Chief
Executive Officer of Solar Capital and Solar Senior Capital, will
serve as Co-Chief Executive Officer, with no change to his
responsibilities or long-term commitment to the Companies.
“On behalf of Solar Capital and Solar Senior
Capital, I’d like to thank Bruce for his leadership, dedication,
and exceptional contributions since the Companies’ inceptions,”
said Michael Gross, Chairman and Chief Executive Officer of Solar
Capital and Solar Senior Capital. “Over twelve years ago, Bruce and
I co-founded Solar Capital Partners, LLC, the investment manager of
Solar Capital and Solar Senior Capital, and we have been serving as
co-managing partners ever since. His promotion to Co-Chief
Executive Officer is a recognition of our partnership and his
invaluable service to the Companies throughout their
histories.”
Mr. Spohler has served as the Chief Operating
Officer of Solar Capital since 2007 and has been a member of its
board of directors since September 2009. In his leadership role at
Solar Senior Capital, Mr. Spohler has served as Chief Operating
Officer and a member of the board of directors since Solar Senior
Capital’s inception in 2010. Additionally, Mr. Spohler is
Co-Founding Partner and Co-Managing Member with Mr. Gross of the
Companies’ investment manager, Solar Capital Partners, LLC.
About Solar Capital Ltd.
Solar Capital is a closed-end investment
company that has elected to be regulated as a business development
company under the Investment Company Act of 1940. A specialty
finance company with expertise in several niche markets, Solar
Capital generally invests directly and indirectly in leveraged,
U.S. middle market companies primarily in the form of cash flow and
asset-based senior secured loans.
About Solar Senior Capital
Ltd.
Solar Senior Capital is a closed-end
investment company that has elected to be regulated as a business
development company under the Investment Company Act of 1940. A
specialty finance company with expertise in several niche markets,
Solar Senior Capital generally invests directly and indirectly in
leveraged, U.S. middle market companies primarily in the form of
senior secured loans, including first lien cash flow and
asset-based loans collateralized on a first lien basis primarily by
current assets.
About Solar Capital Partners,
LLC
Solar Capital Partners, LLC (“Solar Capital
Partners”) is an SEC-registered investment adviser that primarily
invests directly in leveraged, U.S. middle market companies in the
form of cash flow and asset-based senior secured investments,
including first lien, stretch first lien and second lien debt
instruments. Currently, Solar Capital Partners, LLC manages
approximately $6.0 billion of investable capital across its public
and private funds and separately managed accounts, including
serving as the investment adviser to two publicly-traded business
development companies, Solar Capital and Solar Senior Capital.
Since its formation in 2006 thru March 31, 2019,
the Solar Capital Partners’ platform has invested approximately
$10.3 billion in over 650 different portfolio companies with
approximately 200 private equity sponsors. Solar Capital Partners
was founded in 2006 by Michael Gross and Bruce Spohler, who both
have over 30 years of investment experience through multiple credit
cycles.
Forward-Looking Statements
Statements included herein may constitute
“forward-looking statements,” which relate to future events or our
future performance or financial condition. These statements are not
guarantees of future performance, conditions 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 the Companies’ filings with the Securities and Exchange
Commission. Past performance is not indicative of future results
and there is no guarantee that any of the expectations, targets or
projections referenced herein will be achieved. Solar Capital and
Solar Senior Capital undertake no duty to update any
forward-looking statements made herein.
CONTACT: Solar Capital Ltd. and Solar Senior Capital Ltd.
Investor Relations, 646-308-8770
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