Eldridge Industries (Eldridge) has increased its investment in Maranon Capital (Maranon) and now holds a majority ownership stake in the business.
In addition to the equity investment, affiliates of Eldridge have made further commitments to Maranon’s platform, which will support the firm’s ongoing strategic initiatives, including expanding the company’s underwriting and hold capability. Maranon’s updated Form ADV, reflecting Eldridge’s majority ownership position, has been filed with the US Securities and Exchange Commission (SEC).
“Since establishing our partnership with Eldridge in 2015, we’ve invested over USD3.7 billion in 150 transactions,” says Ian Larkin, Maranon co-founder and Managing Director. “The expanded partnership will further advance our presence as a leader in middle market private credit.”
Eldridge will acquire the additional stake from Maranon’s co-founder and Managing Director Tom Gregory, who has decided to transition to an advisory role.
“Maranon’s partners have been investing together for over 16 years, creating a deep bench of seasoned investment professionals and driving a service-oriented culture that we have brought to our clients over the years,” says Gregory. “Building a highly successful business with a solid culture based on strong values has been a distinct honour and privilege. I believe Maranon’s team and investment platform may benefit from the stability of a large institutional shareholder. I look forward to continuing my involvement in an advisory role as I explore the next phase of my career.”
Since its formation in 2015, Eldridge has taken ownership stakes in multiple businesses in the financial services industry, including Security Benefit, a leader in the US retirement savings market; SEC-registered investment advisers Cain International, a global real estate company, and CBAM, a credit-focused investment management firm with over USD10.9 billion in AUM; Stonebriar Commercial Finance, a diversified equipment finance business with approximately USD2 billion in assets; Elliott Bay, a privately held real estate investment firm focussed on healthcare properties; and Essential Properties Realty Trust, Inc, a publicly-traded equity REIT on the NYSE under “EPRT”.