Viola Credit reveals $500m joint venture with Apollo affiliate Cadma
Viola Credit has entered into a strategic joint venture with Cadma Capital Partners, an affiliate of Apollo Global Management.
The partnership has a financing capacity of up to $500m (£379m), and will focus on executing asset-based lending (ABL) transactions which are originated and managed by Viola Credit.
“We are excited to partner with Cadma to deliver on our shared mission of supporting innovative technology companies that are redefining financial markets,” said Ido Vigdor and Ruthi Furman, managing partners and co-heads of Viola Credit.
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“This is an important milestone that will deepen our ability to support technology-enabled lenders with a full suite of asset-based financing solutions across their origination lifecycle.
“Our partnership with Cadma will allow us to more broadly provide compelling offerings to portfolio companies while seeking disciplined, attractive returns for our investors.”
Cadma specialises in financing solutions for high-growth technology companies and the investment firms that sponsor them. Meanwhile, Viola Credit offers flexible credit solutions to sponsor-backed technology companies seeking asset-based financing and growth capital.
“This mutually beneficial partnership with Viola Credit will expand high-quality asset origination for both our firms,” said Jon Beizer, chief executive of Cadma.
“We believe that Cadma’s deep understanding of the venture and growth ecosystem, combined with Viola Credit’s global platform and strong track record, will enable us to provide more ABL solutions to leading financial technology platforms.”
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Viola Credit is a global credit asset manager with more than $2.5bn in AUM. To date, it has completed more than $2.8bn of ABL transactions across the US, UK, Western Europe, and Australia.
“Cadma’s partnership with Viola Credit demonstrates Cadma’s differentiated approach to expanding our reach in asset-backed credit origination,” added Josh Brody, president of Cadma.
“Viola Credit’s proven track record, deep expertise, and disciplined underwriting align with Cadma’s origination strategy and partnership model of working with leading venture and growth firms. We look forward to deepening this relationship in the years to come.”
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