Moore Capital Adds Mid-Market Lending Firm, Pledges $200M

May 21 2013 | 2:00pm ET

Moore Capital Management is getting into the mid-market lending business.

The hedge fund has committed approximately $200 million to the former Cyan Partners, which has been renamed MC Credit—after the hedge fund—and which will operate as an independent affiliate of Moore, Buyouts magazine reports.

Cyan became MC this month, and hopes to raise $750 million for a lower mid-market debt fund. Cyan, which was founded by Morgan Stanley and Citigroup leveraged finance veteran Ashok Nayyar in 2008, has sourced and invested in some $900 million in credit since its debut.

MC's strategy will not change along with its name, focusing on mid-market North American companies. It will offer growth capital through senior secured loans and second-lien loans, originating them and then syndicating them to hedge funds and banks.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...