Benefit Street Partners Named Investment Advisor to Business Development Corporation of America

In The News
November 2, 2016

Ropes & Gray advised Benefit Street Partners L.L.C. (BSP) in its appointment as external investment advisor to Business Development Corporation of America (BDCA), a non-traded business development company. The transaction, which was approved by BDCA stockholders on Oct. 28, closed Nov. 1.

BSP is a leading credit-focused alternative asset management firm with more than $17 billion in assets under management and 140 employees, including more than 80 investment professionals. The firm has three flagship private debt funds and has deployed more than $12 billion in its private debt strategy over its eight-year history. Under BSP, BDCA’s new originations will primarily focus on senior secured loans and, to a lesser extent, mezzanine loans, unsecured loans and equity. 

The Ropes & Gray team included private equity partner Paul Van Houten (Boston), hedge funds partner Jessica O’Mary (New York), investment management partner Michael Doherty (New York), tax partner Adam Greenwood (New York) and private equity associate Adam Leamon (Boston).