WhiteHorse Finance, STRS Ohio form JV to invest in debt facilities
WhiteHorse Finance, Inc. and State Teachers Retirement System of Ohio, a public pension fund established under Ohio law, announced that they have entered into an agreement to co-manage a newly-formed joint venture, WHF STRS Ohio Senior Loan Fund LLC, to invest primarily in lower middle market, senior secured debt facilities. The company and STRS Ohio have committed to provide up to $125M of subordinated notes and equity to the joint venture, with the company providing up to $75M and STRS Ohio providing up to $50M. In addition, the joint venture intends to seek up to $250M in third-party financing thereby providing WhiteHorse Finance up to $375M in lending capacity. Additional terms of the transaction were not disclosed.