CVC Credit Partners today announced the acquisition of Northport Capital TRS, LLC ("Northport") from Resource Capital Corp. by a partnership managed by CVC Credit Partners, supported by a fund advised by Coller Capital. This will increase assets under management in CVC Credit Partners' global direct lending strategy to approximately $1 billion* and complement its existing European strategy. The transaction will provide significant additional primary capital for the business to maintain its historic investment approach.

Northport is a direct lender that specializes in providing credit facilities to private middle market and lower middle market companies across North America. Northport has a strong investment track record, and will transform CVC Credit Partners' direct lending strategy into a transatlantic platform. The team, led by David DeSantis, consists of experienced lending and deal making professionals with backgrounds from institutions that include Antares Capital, Ares, GE Capital, Lehman Brothers, Medley Capital and Nomura. Each of the Northport senior employees has over 15 years of experience within direct middle market lending.

Stephen Hickey, Managing Partner and Chief Investment Officer of CVC Credit Partners, said: "This acquisition represents a significant moment as we build and enhance CVC Credit Partners' growing global platform. We look forward to working with David DeSantis and the experienced team as we continue to deliver consistent value for our investors."

Tom Newberry, Partner and Head of Private Credit Funds, CVC Credit Partners, commented: "We are very excited to acquire the Northport team and their portfolio. Their invaluable market insight and local US relationships will complement our existing European network, enabling CVC Credit Partners to become a truly transatlantic direct lender."

* Includes assets under management of various subsidiaries of CVC Credit Partners LP, including CVC Credit Partners, LLC, which is registered as an investment adviser with the US Securities and Exchange Commission, and CVC Credit Partners Investment Management Limited, which is authorised and regulated by the Financial Conduct Authority in the UK.