Mount Logan Capital Inc. Announces Strategic Minority Investment in Leading North American Lending Platform

Transaction Overview - BC Partners Credit agreed to acquire a majority stake in Runway Growth Capital LLC, an SEC-registered investment adviser managing approximately $1.4 billion in private credit assets [1] - Mount Logan Capital Inc will purchase the remaining minority stake in Runway through the issuance of $5 million worth of common shares [1][3] - The transaction is expected to close in Q4 2024, subject to customary closing conditions including approval from Runway Growth Finance's stockholders [3] Company Profiles Mount Logan Capital Inc - An alternative asset management and insurance solutions company focused on public and private debt securities in North America [6] - Operates through wholly owned subsidiaries Mount Logan Management LLC and Ability Insurance Company [6] - Ability Insurance Company is a Nebraska-domiciled insurer and reinsurer of long-term care policies and annuity products [7] BC Partners & BC Partners Credit - BC Partners is a leading international investment firm with approximately $40 billion in AUM across private equity, private debt, and real estate strategies [8] - BC Partners Credit, launched in 2017, focuses on identifying attractive credit opportunities in complex market segments with $8 billion in assets [8] Runway Growth Capital LLC - Investment adviser to funds including Runway Growth Finance Corp (Nasdaq: RWAY) and other private funds [9] - Provides senior term loans of $30 to $150 million to fast-growing North American companies [9] - Led by industry veteran David Spreng, founded in 2015 [10] Strategic Benefits - The transaction will expand Runway's origination channels, increase capital availability, and enhance investment solution capabilities [1] - Mount Logan expects to benefit from Runway's expertise in venture and non-venture backed growth company lending, diversifying its private credit capabilities [3] - Runway will continue as investment adviser to its managed funds, including Runway Growth Finance Corp [3] Management Perspectives - Mount Logan's CEO Ted Goldthorpe highlights the opportunity to build on Runway's strong momentum in late- and growth-stage lending [5] - Runway's CEO David Spreng emphasizes the long-term value of combining expertise with BC Partners and Mount Logan platforms [5] - The transaction is expected to broaden Runway's investor base across institutional, retail, and insurance capital sources [5]