Mount Logan Capital Inc. Agrees to Acquire Strategic Minority Investment in Runway Growth Capital LLC, an Investment Advisor Managing Approximately US$1.4 Billion in Private Credit Assets

Mount Logan Capital Inc. (CBOE: MLC) (“Mount Logan” or the “Company”), an alternative asset management and insurance solutions company, announced it has agreed to purchase a minority stake in Runway Growth Capital LLC (“Runway”), a leading provider of growth loans to both venture and non-venture-backed companies.

Runway is an SEC registered investment adviser managing approximately US$1.4 billion in private credit assets, and is the investment adviser to Runway Growth Finance Corp. (Nasdaq: RWAY).

Mount Logan’s US$5 million indirect interest in Runway will be satisfied through the issuance of common shares of Mount Logan to certain selling members of Runway, at a price per share to be determined at closing based on the 20-day volume weighted average price of the common shares of Mount Logan prior to the date thereof, subject to the approval of the Cboe Canada.

BC Partners Credit, the US$8 billion credit arm of BC Partners, an approximately US$40 billion AUM alternative investment firm, has agreed to indirectly acquire the remaining majority stake in Runway.

The closing of the transaction, which is expected to occur in the fourth quarter of 2024, is subject to customary closing conditions.

Wildeboer Dellelce LLP acted for Mount Logan with a team that included Perry Dellelce, Charlie Malone, Sanjeev Patel, Sarah Wahba (corporate/securities/mergers and acquisitions) and Mariam Al-Shikarchy (tax).

Link to press release.