Eldridge Industries Announces $1.36 Billion Equity Investment

GREENWICH, Conn.--(BUSINESS WIRE)--Eldridge Industries (“Eldridge” or “the Company”), a private investment firm, today announced the closing of $1.36 billion of common equity issued to a partnership owned substantially by Swiss businessman and philanthropist, Hansjörg Wyss, and Eldridge Co-Founder, CEO and controlling-member, Todd Boehly. This marks the second investment the Wyss and Boehly partnership have made into Eldridge. The new proceeds will further capitalize Eldridge and will drive strategic growth across the Company’s businesses.

“The new capital raised is a testament to our Company’s positive trajectory, strengthens our balance sheet, and positions us to further invest in our initiatives,” said Boehly. “We believe this additional capital will benefit all stakeholders of our businesses and will provide Eldridge with additional resources to pursue investments and acquisitions.”

Eldridge has invested across diversified industries and has been the primary capital support for Kansas-based insurer, Security Benefit. Through an alignment of interests between Eldridge and its management teams, many of Eldridge’s businesses have achieved significant milestones, including:

• Security Benefit Marks 127^th Anniversary: Security Benefit, a leader in the U.S. retirement savings market, celebrated its 127th anniversary in February 2019. In September 2018, S&P affirmed the A- corporate credit rating of Security Benefit, reflecting the business’s balance sheet strength, superior operating performance, business profile and enterprise risk management. As of year-end 2018, Security Benefit had approximately $27 billion of general account assets with approximately $3 billion of statutory capital.
• CBAM Closes Ninth CLO: CBAM, an SEC-registered investment manager with $11 billion in assets under management, closed its ninth collateralized loan obligation (“CLO”) in February 2019, bringing its total CLO issuance to $9 billion since its first closing in June 2017.
• Stonebriar Commercial Finance Closes its Fifth Equipment Securitization Transaction for $650 million: Stonebriar Commercial Finance (“SCF”), a leading independent large ticket commercial finance company, closed its fifth commercial equipment asset-backed securitization, SCFET 2019-1, a $650 million issuance, in April 2019. Additionally, in June 2018, SCF announced a $500 million revolving credit facility that will provide multi-year funding for each of SCF’s five business platforms – General Equipment, Aviation Capital, Rail Leasing, Real Estate, and Sponsor Finance.
• Cain International Completes Multiple Transactions in 2018: Cain International (“Cain”), a global real estate company that has invested more than $3 billion across a portfolio of debt and equity investments, announced in November 2018 an agreement to acquire 9900 Wilshire Boulevard Beverly Hills, California with Alagem Capital Group. In August 2018, Cain purchased a stake in the neighboring Waldorf Astoria and The Beverly Hilton. In October 2018, Cain closed on the sale of its stake in sbe Entertainment Group to AccorHotels.
• Essential Properties Realty Trust Equity Offerings: Essential Properties Realty Trust (“EPRT”), a triple net lease REIT that manages single-tenant commercial properties, completed its initial public offering of common stock in June 2018 at $14.00 per share. Last month, EPRT completed its first follow-on offering, selling 14,030,000 shares of common stock at $17.50 per share, including the underwriters’ full exercise of their option to purchase additional shares. EPRT trades under the symbol EPRT on the NYSE.
• Valence Media Launches as a Diversified Media Company: Valence Media (“Valence”) launched in 2018, combining Billboard-Hollywood Reporter Media Group, dick clark productions, and MRC. Valence also owns minority interests in A24, Fulwell 73, and Sugar 23.

About Eldridge Industries: Eldridge Industries (“Eldridge”) invests across diversified industries with a focus on asset management and leasing; food, convenience, and consumer experiences; real estate lending and development; retirement income, insurance, and insurance technology; sports and media. In particular, the firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York, and London. To learn more about Eldridge please visit www.eldridge.com.