BlackRock to buy Tennenbaum Capital; five partners to stay on board

BlackRock agreed to acquire Tennenbaum Capital Partners, which focuses on credit and special situations. Tennenbaum partners Lee LandrumMichael LeitnerHoward LevkowitzPhilip Tseng and Rajneesh Vig will stay on as part of the acquisition. Tennenbaum is expected to become a wholly owned subsidiary of BlackRock and, pending approval, will remain the investment adviser for TCP Capital Corp. Press Release BlackRock Inc. (NYSE: BLK) and Tennenbaum Capital Partners, LLC (“TCP”) today announced a definitive agreement under which BlackRock will acquire TCP, a leading manager focused on middle market performing credit and special situation credit opportunities. The acquisition augments BlackRock’s position as a leading global credit asset manager and advances its goal of providing clients with a diverse range of alternative investment products and solutions to meet their evolving needs. TCP complements BlackRock’s Global Credit business with seasoned investment talent and a strong long-term track record at
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CNO Financial invests in Tennenbaum Capital Partners

CNO Financial Group said April 18 that it has acquired a minority stake in Tennenbaum Capital Partners LLC. Financial terms weren’t announced. CNO also agreed to make general account investments over a period of time of approximately $250 million across TCP’s managed funds and strategies. Los Angeles-based Tennenbaum is an alternative investment management firm focused on direct lending and special situations for middle-market companies. PRESS RELEASE CARMEL, Ind. and LOS ANGELES, Ca. April 18, 2016 – CNO Financial Group, Inc. (NYSE: CNO) today announced that it has invested in a non-controlling minority interest in Tennenbaum Capital Partners, LLC (TCP), a Los Angeles-based investment management firm with over $6 billion in committed capital under management. TCP will continue to operate on a stand-alone basis under its present executive leadership. Financial terms of this transaction were not disclosed. In addition, CNO has agreed to make general account investments over a period of
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PE-backed Real Mex recruits Lockwood as CEO and president

Mexican restaurant chain Real Mex Restaurants has named Bryan Lockwood as CEO. The appointment is effective immediately. Previously, Lockwood worked at Tavistock Restaurants where he served as CEO and President. Real Mex is a portfolio company of Z Capital Partners LLC and Tennenbaum Capital Partners LLC. PRESS RELEASE CYPRESS, Calif., March 2, 2015 /PRNewswire/ — Real Mex Restaurants (“Real Mex” or the “Company”), the largest full service, casual dining Mexican restaurant chain in the United States, today announced that Bryan Lockwood has been appointed Chief Executive Officer, effective immediately. Mr. Lockwood is a proven executive with extensive operational expertise in the restaurant industry. Prior to joining Real Mex, he served for a decade in the roles of Chief Executive Officer and President of Tavistock Restaurants, a company he co-founded in 2003. During his time at Tavistock Restaurants, Mr. Lockwood grew annual revenues to $300 million while overseeing operations of 13 upscale restaurant concepts and approximately 7,000 employees. In his more than 35 years in the restaurant industry, Mr. Lockwood has served in a variety of roles including as an executive, advisor, principal, investor, franchisor, and franchisee. “I am pleased to have someone of Bryan’s caliber lead Real Mex during this exciting phase of growth for the Company,” said James J. Zenni, Chairman of Real Mex and President and Chief Executive Officer of Z Capital Partners. “Bryan brings extensive industry knowledge and valuable operational experience, as well as a proven track record of overseeing the successful turnaround and growth of various restaurant brands.
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Green Biologics fetches $76 mln

UK-based renewable chemicals firm Green Biologics has raised $42 million in equity funding. Swire Pacific Limited and Sofinnova Partners led the round with participation from return backers Capricorn Venture Partners, Oxford Capital Partners, Morningside Technology Partners and ConvergInce Holdings LLC. Also, Green Biologics has received $34 million in mostly debt funding led by Tennenbaum Capital Partners. PRESS RELEASE Gahanna, Ohio and Abingdon, Oxfordshire U.K. (January 21, 2015) – Green Biologics (GBL) announced today the closing of an internal follow-on equity round of $42 million co-led by Swire Pacific Limited (HKEX: 00019/00087) and Sofinnova Partners. Existing investors Capricorn Venture Partners, Oxford Capital Partners, Morningside Technology Partners and ConvergInce Holdings, LLC also participated in the round. In addition to the $42 million internal equity round, an additional $34 million in funding was raised predominantly in debt financing from Tennenbaum Capital Partners (TCP), along with equity and debt investment rolled over by existing members of Central MN Ethanol Co-op LLC (CMEC) in Central MN Renewables LLC (CMR), a U.S. affiliate of GBL. This $76 million financing follows GBL’s previous equity round of $25 million in December 2013, bringing GBL’s total fund raising to just over $100 million since late 2013. On December 23, 2014, GBL announced the acquisition of the assets of CMEC, a 21 million gallon per year ethanol producer in Little Falls, Minnesota through its CMR affiliate. In addition to the acquisition, the proceeds of the round will be utilised by GBL to repurpose the Minnesota plant to produce n-butanol and acetone, along with funding GBL’s advanced technology process technology platform.
“We are grateful for the strong support from our board, and the continued support of our existing investors as well as from our new investors and partners, TCP and CMEC,” said Sean Sutcliffe, GBL Chief Executive, adding, “Our objective since last year has been to demonstrate our technology and secure our first U.S. commercial plant in Minnesota, and raise the necessary capital to repurpose the plant to begin production of renewable nbutanol and acetone for our customers – this financing sets us squarely on our course.
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Tennenbaum Capital hires Bank of America executive

Tennenbaum Capital Partners has hired Carolyn Glick as a director in the Los Angeles office. Glick will source and execute credit investments across performing and special situations credit strategies. Prior to Tennenbaum, Glick was a senior vice president of Bank of America Business Capital. Press Release Tennenbaum Capital Partners, LLC (“TCP”), an alternative investment management firm, is pleased to announce that Carolyn Glick has joined TCP. Glick will source and execute credit investments across the firm’s performing and special situation credit strategies. TCP is headquartered in Los Angeles with additional offices in New York and San Francisco. “We are delighted to welcome Carolyn as a Director based in our Los Angeles office,” said Philip Tseng, Managing Partner. “Carolyn’s base of relationships spans private equity, advisory firms and other lenders. I am confident that her experience originating and structuring credit investments will allow her to make a valuable contribution to our organization.” “Over the past several years, TCP has significantly expanded its origination platform and team,” Tseng added. “This has led to continued strength in our investment pipeline including a greater volume of privately-originated investment opportunities for our private funds as well as our publicly-traded business development corporation, TCP Capital Corp.” Glick was previously a senior vice president of Bank of America Business Capital, where she was responsible for loan originations and financial sponsor coverage. Prior to Bank of America, Glick spent 10 years with Wells Fargo Capital Finance in various credit roles. About Tennenbaum Capital Partners, LLC Tennenbaum Capital Partners, LLC (“TCP”) is a Los Angeles-based alternative investment management firm focused on performing and special situation credit for middle-market companies. TCP manages a publicly-traded business development company, TCP Capital Corp. (NASDAQ: TCPC), as well as other funds and accounts. Since its founding, TCP has invested more than $13.9 billion in over 350 companies. For more information, please visit: www.tennenbaumcapital.com and www.tcpcapital.com. SOURCE Tennenbaum Capital Partners, LLC

PE-backed Real Mex hires CFO

Real Mex, a portfolio company of both Z Capital Partners and Tennenbaum Capital Partners, has named Laurie Lawhorne as chief financial officer. The appointment is effective immediately. Previously, Lawhorne worked at Captain D’s and Grandy’s where she served as senior vice president, CFO and treasurer. Headquartered in Cypress, California, Real Mex is a Mexican restaurant chain. PRESS RELEASE CYPRESS, Calif., Aug. 11, 2014 /PRNewswire/ — Real Mex Restaurants (“Real Mex” or the “Company”), the largest full service, casual dining Mexican restaurant chain in the United States, today announced that Laurie Lawhorne has been appointed Chief Financial Officer, effective immediately. Ms. Lawhorne is a Certified Public Accountant who joins Real Mex with more than 20 years of financial leadership experience. A veteran of the restaurant industry, Laurie previously held positions at Yum! Brands, Inc. and Hudson Advisors, LLC, and most recently served as Senior Vice President, Chief Financial Officer and Treasurer of restaurant chains Captain D’s LLC and Grandy’s LLC. “We are excited to build out our executive team through the addition of Laurie,” said James J. Zenni, Chairman of Real Mex and President and Chief Executive Officer of Z Capital Partners. “Her extensive experience working with leading restaurant chains perfectly positions Laurie to oversee Real Mex’s finances as we elevate Real Mex to new heights. We look forward to Laurie’s many contributions as Real Mex continues to execute on our transformational strategy and implement growth initiatives to accelerate the expansion and development of Real Mex’s brands, drive profitability and enhance customer relationships.” Ms. Lawhorne commented, “I am excited to join Real Mex at this exciting point in the Company’s growth. Real Mex is well positioned in the market and I look forward to contributing to the ongoing execution of its strategic plan. I have confidence in Real Mex’s ability to continue further developing the innovative concepts for its iconic brands that resonate with customers. I am pleased and honored to be a part of the Real Mex team and am eager to contribute to the Company’s growth and success.” Real Mex is a portfolio company of Z Capital Partners, L.L.C. and Tennenbaum Capital Partners. About Laurie Lawhorne
Laurie Lawhorne is a proven business executive and an industry veteran with more than 20 years of experience. Prior to joining Real Mex, Ms. Lawhorne served as Senior Vice President, Chief Financial Officer and Treasurer for Captain D’s LLC and Grandy’s LLC, two restaurant chains which combined own, operate and franchise over 560 restaurants.. From 2009 to 2011 Ms. Lawhorne worked at Hudson Advisors, LLC, a full-service asset management company, where she held the titles of VP of Capital and Corporate Planning as well as VP of Asset Management, focusing mainly on restaurant investments. From 1992 to 2009 she held a number of roles at Yum! Brands, Inc, including Director of Field Finance at Pizza Hut, Director of Financial Planning and Analysis at Yum! Restaurants International and Manager of Tax at Taco Bell. Ms. Lawhorne started her career in 1987 as a tax specialist with the public accounting firm KPMG . She is a Certified Public Accountant and holds a Bachelor of Business Administration from Texas A&M University. About Real Mex
Headquartered in Cypress, California, Real Mex Restaurants is the largest full-service, casual dining Mexican restaurant chain operator in the United States with 115 company owned and operated restaurants, as well as 13 franchised restaurants. Our brands include El Torito Restaurants, Acapulco Mexican Restaurants, Chevys Fresh Mex® Restaurants, El Torito Grill Restaurants, Las Brisas Restaurant in Laguna Beach, Sinigual Restaurant in New York City, Who Song and Larry’s in Vancouver, WA, and El Paso Cantina in Torrance, CA. About Z Capital Partners
Z Capital Partners, L.L.C. (“Z Capital”) is a leading private equity firm with approximately $1.7 billion of regulatory assets and committed capital under management and with offices in Lake Forest, IL and New York, NY. Z Capital pursues an opportunistic, value-oriented approach in private equity that includes making control investments in middle-market companies that may require growth capital, turnaround, restructuring or other special situations.
Z Capital portfolio companies currently have aggregate worldwide annual revenues of approximately $1.5 billion, sell products in over 30 countries, and have in excess of 190,000 associates directly and through joint ventures. About Tennenbaum Capital Partners, LLC
Tennenbaum Capital Partners, LLC (“TCP”) is a Los Angeles-based alternative investment management firm focused on performing credit and special situations for middle-market companies. TCP manages a publicly-traded business development company, TCP Capital Corp. (NASDAQ: TCPC), as well as other funds and accounts. Since its founding, TCP has invested more than $12 billion in over 300 companies. For more information, please visit: www.tennenbaumcapital.com and www.tcpcapital.com.  

TCP Capital’s (TCPC) CEO Howard Levkowitz on Q2 2014 Results – Earnings Call Transcript

    <p>TCP Capital Corporation (NASDAQ:<a href='http://seekingalpha.com/symbol/tcpc' title='TCP Capital'>TCPC</a>)</p> <p>Q2 2014 Earnings Conference Call</p> <p>August 7, 2014 1:00 PM ET</p> <p>
Executives

Jessica Ekeberg - IR Howard Levkowitz - Chairman and CEO Paul Davis - CFO Raj Vig - President and COO Analysts Chris Kotowski - Oppenheimer & Company Jonathan Bock - Wells Fargo Securities Troy Ward - Keefe, Bruyette & Woods Robert Dodd - Raymond James Doug Christopher - Crowell Weedon Christopher Nolan - MLV & Company Presentation

Operator Ladies and gentlemen, good afternoon. Welcome everyone to the TCP Capital Corporation Second Quarter 2014 Earnings Conference Call. Today's conference call is being recorded for replay purposes. During the presentation, all participants will be in a listen-only mode. A question-and-answer session will follow the Company's formal remarks. (Operator Instructions) I will repeat these instructions after management completes their prepared remarks. And now, I would like to turn the call over to Jessica Ekeberg, Vice President of

                                                                                                                                                           <br/><a href='http://seekingalpha.com/article/2398465-tcp-capitals-tcpc-ceo-howard-levkowitz-on-q2-2014-results-earnings-call-transcript?source=feed'>Complete Story &raquo;</a>

PE-backed Real Mex promotes Gueli to COO

Real Mex, a portfolio company of both Z Capital Partners and Tennenbaum Capital Partners, has promoted Rio Gueli to chief operating officer. Recently, Gueli served as the firm’s executive vice president of operations. Headquartered in Cypress, California, Real Mex Restaurants is a Mexican restaurant chain. PRESS RELEASE CYPRESS, Calif., May 27, 2014 /PRNewswire/ — Real Mex Restaurants (“Real Mex” or the “Company”), the largest full service, casual dining Mexican restaurant chain in the United States, today announced the promotion of Rio Gueli, current EVP of Operations, to Chief Operating Officer. Mr. Gueli’s new responsibilities include the oversight of all operations for Real Mex restaurants.
“Rio is a proven operational veteran with unmatched expertise and experience,” said Charly Robinson, President and CEO of Real Mex. “Over the past 15 months, Rio’s leadership has been instrumental in the execution of Real Mex’s transformational strategy in all aspects of the company’s operations. Rio has played an integral part in the introduction of the new Who Song & Larry’s concept, which recently celebrated its first restaurant opening in Orange County, CA, and his focus on operational excellence, strong entrepreneurial mentality and commitment to delivering a high-quality guest experience will be invaluable as he steps into this new role. Rio’s promotion represents a successful example of the company’s long-term talent-development plan and we look forward to his contributions as COO.”
“I am excited to take on this new role,” said Mr. Gueli. “Real Mex is well-positioned for growth and I am enthusiastic about the opportunities ahead. I look forward to playing an expanded role in our transformational strategy and working closely with the rest of the executive management team to fulfill the potential of our iconic brands and continue to introduce exciting new concepts.”
Real Mex is a portfolio company of Z Capital Partners, L.L.C. and Tennenbaum Capital Partners.
Rio Gueli
Rio most recently served as EVP of Operations at Real Mex, where he oversaw operations for the El Torito, Las Brisas and Who Song & Larry’s restaurants brands. Rio also oversaw the Manager in Training program as well as non-exempt team member training programs.
Rio Gueli came to Real Mex Restaurants with over 20 years’ experience in the area of restaurant operations and development. Rio most recently served as Director of Food and Beverage at Bass Pro Group. Prior to that he was Director of Operations at Houston based Landry’s Restaurants, focusing on West Coast Operations for the Joe’s Crab Shack Chain.
Rio earned his Bachelor of Science Degree Political Science from Illinois State University and obtained his MBA with an emphasis in accounting from Roosevelt University.
About Real Mex
Headquartered in Cypress, California, Real Mex Restaurants is the largest full-service, casual dining Mexican restaurant chain operator in the United States with 125 company owned and operated restaurants, as well as 15 franchised restaurants. Our brands include El Torito Restaurants, Acapulco Mexican Restaurants, Chevys Fresh Mex® Restaurants, El Torito Grill Restaurants, Las Brisas Restaurant in Laguna Beach, Sinigual Restaurant in New York City, Who Song and Larry’s in Vancouver, WA, and El Paso Cantina in Torrance, CA. In addition, our Real Mex Foods division is a custom manufacturer of foodservice and private label products in addition to co-packing for other manufacturers.
About Z Capital Partners
Z Capital Partners, L.L.C. (“Z Capital”) is a leading private equity firm with approximately $1.7 billion of regulatory assets and committed capital under management and with offices in Lake Forest, IL and New York, NY. Z Capital pursues an opportunistic, value-oriented approach in private equity that includes making control investments in middle-market companies that may require growth capital, turnaround, restructuring or other special situations.
Z Capital portfolio companies currently have aggregate worldwide annual revenues of approximately $3 billion, sell products in 98 countries, and employs in excess of 200,000 associates directly and through joint ventures.
Z Capital’s investors include prominent global sovereign wealth funds, endowments, pension funds, insurance companies, foundations, family offices, wealth management firms and other financial institutions in North America, Europe, Asia, Africa and the Middle East. For more information, please visit www.zcap.net.
About Tennenbaum Capital Partners, LLC
Tennenbaum Capital Partners, LLC (“TCP”) is a Los Angeles-based alternative investment management firm focused on performing credit and special situations for middle-market companies. TCP manages a publicly-traded business development company, TCP Capital Corp. (NASDAQ: TCPC), as well as other funds and accounts. Since its founding, TCP has invested more than $12 billion in over 300 companies. For more information, please visit: www.tennenbaumcapital.com and www.tcpcapital.com.  

Oxford Resource Partners Secures $175 Mln in Credit Facilities

Oxford Resource Partners said on Tuesday that it has closed $175 million in new credit facilities. Cerberus Capital Management provided a first lien $75 million term loan and $25 million revolving credit facility while Tennenbaum Capital Partners arranged a second lien $75 million term loan. Evercore Partners served as financial advisor. Headquartered in Columbus, Ohio, Oxford Resource Partners is a producer of steam coal in Northern Appalachia and the Illinois Basin.

PRESS RELEASE

COLUMBUS, Ohio, June 25, 2013 /PRNewswire/ — Oxford Resource Partners, LP (NYSE: OXF) (the “Partnership” or “Oxford”) today announced that it has successfully completed a refinancing of its credit facilities that significantly enhances the Partnership’s financial flexibility and puts it in a stronger position to participate in a coal market rebound.
The Partnership has closed on $175 million of new credit facilities that replace its previous term loan and revolving credit facility, thereby extending the maturity profile of the Partnership’s debt and increasing availability under its revolver. The new facilities, which are secured by substantially all of the assets of the Partnership and its wholly owned subsidiaries, consist of a first lien $75 million term loan and $25 million revolving credit facility arranged by Cerberus Capital Management, L.P., and a second lien $75 million term loan arranged by Tennenbaum Capital Partners, LLC.
Oxford’s President and Chief Executive Officer Charles C. Ungurean commented, “I am pleased that we have closed on these new credit facilities which replace our maturing revolver and term loan credit facility. By extending the maturity profile of our debt and increasing availability under our revolver, we have significantly enhanced our liquidity as we continue to focus on increasing productivity across our operations.”
The net proceeds of the new facilities are being used to retire both the existing revolving credit facility maturing next month and the existing term loan maturing in July 2014, to pay related fees and expenses and for general corporate purposes. The new first lien facility matures in August 2015 with an optional extension to May 2016 if certain conditions are met. The new second lien facility matures in December 2015 with an optional extension to September 2016 if certain conditions are met. Both new financing agreements contain customary covenants, and also a covenant that precludes the Partnership from making any unitholder distributions during the term of the new facilities. Additional details regarding the terms of the new facilities are provided in the Partnership’s Current Report on Form 8-K being filed today with the Securities and Exchange Commission.
Evercore Partners acted as sole financial advisor and placement agent to the Partnership with respect to the new facilities.
About Oxford Resource Partners, LP
Oxford Resource Partners, LP is a low-cost producer of high-value steam coal in Northern Appalachia and the Illinois Basin. Oxford markets its coal primarily to large electric utilities with coal-fired, base-load scrubbed power plants under long-term coal sales contracts. The Partnership is headquartered in Columbus, Ohio.
For more information about Oxford Resource Partners, LP (NYSE: OXF), please visit www.OxfordResources.com. Financial and other information about the Partnership is routinely posted on and accessible at www.OxfordResources.com.
About Cerberus Capital Management, L.P.
Established in 1992, Cerberus Capital Management, L.P. (“Cerberus”) is one of the world’s leading private investment firms. Cerberus has more than US $20 billion under management invested in four primary strategies: distressed securities and assets, control and non-control private equity, commercial mid-market lending, and real estate-related investments. From its headquarters in New York City and large network of affiliate and advisory offices in the U.S., Europe and Asia, Cerberus has the on-the-ground presence to invest in multiple sectors through multiple investment strategies in countries around the world.
About Tennenbaum Capital Partners, LLC
Tennenbaum Capital Partners™ (“TCP”) is a Los Angeles based, alternative investment management firm focused primarily on middle-market credit opportunities. TCP manages a publicly-traded business development company, TCP Capital Corp. (NASDAQ: TCPC), as well as other funds and accounts. The firm’s investment professionals use their extensive expertise in industry, legal, operational and financial disciplines to successfully execute TCP’s investment strategies. Since its founding, TCP has invested more than US $11 billion in over 250 companies. For more information, please visit: www.tennenbaumcapital.com.

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