Mount Logan Capital invests in Runway Growth Capital to enhance private credit offerings
Mount Logan Capital Inc. has announced a strategic investment in Runway Growth Capital LLC, acquiring a minority stake for $5 million in common shares. This follows BC Partners Credit's agreement to acquire a majority stake in Runway, which manages about $1.4 billion in private credit assets.
Runway specializes in providing senior loans ranging from $30 million to $150 million to fast-growing North American companies. The investment aims to enhance capital availability and expand investment solutions for existing Runway investors.
The transaction is expected to close in the fourth quarter of 2024, pending customary conditions, including approval from Runway Growth Finance's stockholders. Runway will continue as the investment adviser for its managed funds.