Phoenix Merchant Partners, LP (“Phoenix”), a newly established independent investment firm, has officially announced its launch, marking its entry into the market with a focus on delivering comprehensive financing solutions to middle-market companies. The firm distinguishes itself by offering creative and bespoke financial instruments, tailored to address the specific needs of businesses in this often-underserved segment. Coinciding with its launch, Phoenix has successfully closed its inaugural transaction, demonstrating its commitment and capabilities from day one. This strategic move signals Phoenix Merchant Partners’ ambition to become a key player in the private credit and lending space.
Groundbreaking First Transaction with Gryphon Holdings
Phoenix Merchant Partners’ first transaction is a notable financing agreement with Gryphon Holdings (the “Company”), a specialist in quota share non-catastrophic property and casualty reinsurance services. This innovative financing, finalized on January 10th, is designed to bolster Gryphon Holdings’ balance sheet and fuel the future expansion of its reinsurance program. The deal showcases Phoenix’s ability to structure complex and customized financial solutions.
The financing package is uniquely structured, combining a delayed draw senior facility, represented by a contingent capital note, with the issuance of preference shares. This hybrid approach provides Gryphon Holdings with flexible access to capital while aligning the interests of both parties for long-term growth. Furthermore, the agreement includes provisions for Phoenix and its affiliates to provide additional growth financing in the coming months, highlighting Phoenix’s commitment to supporting the long-term success of its partners.
Art Mbanefo, Founder, CEO, and CIO of Phoenix Merchant Partners, emphasized the firm’s strategic vision: “We recognize a significant gap in financing options for unsponsored middle-market businesses. Our strength lies in our innovative approach, disciplined structuring, and meticulous process, which uniquely positions us to identify and capitalize on these differentiated opportunities.” He further added, “We are thrilled to launch our platform through our partnership with Gryphon, which exemplifies our capability to adapt and deliver bespoke financing solutions that are perfectly aligned with specific company and industry dynamics.”
For this landmark transaction, Phoenix Merchant Partners received legal counsel from Clifford Chance LLP and Sidley Austin LLP. Houlihan Lokey served as financial advisor for subsequent stages of the deal. Arik Rashkes, Managing Director and Co-Head of Houlihan Lokey’s Financial Services Group, commented on the transaction and Phoenix’s approach: “Art and the Phoenix team have built a strong reputation for delivering creative capital solutions across various companies and geographies. This transaction is another example of their innovation in the insurance market. We believe Phoenix Merchant Partners is setting a new standard for how companies access and utilize alternative financing solutions.”
Expanding Leadership Team with Industry Veterans
In a move to further solidify its expertise and enhance its service offerings, Phoenix Merchant Partners has announced the addition of seasoned investment professionals to its leadership team. Adrian Macedo joins as Managing Director and Head of Investments, bringing his extensive experience from ORIX USA, where he previously collaborated with Mr. Mbanefo in a similar capacity. Julia Henderson will assume the role of Managing Director, Insurance Solutions, effective February 1st. Ms. Henderson’s background includes serving as President and Head of Portfolio Management at Stable Corporation, where she continues to serve on the board of directors.
Adding further strategic depth, Benjamin Weston has been appointed to Phoenix Merchant Partners’ Advisory Board. Mr. Weston’s distinguished career includes his recent role as Global Head of Alternative Investments and Chief Investment Officer of the Alternatives Investments Department at the Abu Dhabi Investment Authority.
“Our team is and will always be our most valuable asset,” Mr. Mbanefo stated. “The addition of these highly respected and exceptionally talented professionals underscores the significant opportunity we see for our platform. In establishing Phoenix Merchant Partners, my vision was to create a truly institutional-caliber firm. We have built a strong foundation of expertise and insight to facilitate our growth. We are eager to continue strategically expanding our team and advisory board as we partner with leading companies and investment partners.”
About Phoenix Merchant Partners
Phoenix Merchant Partners is an independent investment firm dedicated to providing a wide array of financing solutions to companies within the middle-market sector. Founded by Art Mbanefo, a highly accomplished financial executive with previous roles as CIO of Barclays Bank PLC, CIO and head of asset management of ORIX USA, and CIO/co-CEO of Paloma Partners, Phoenix is built on a foundation of deep industry knowledge and experience. Alongside Mr. Mbanefo, Tim Throsby, President, CRO, and CCO, plays a crucial leadership role. Mr. Throsby’s impressive background includes serving as CEO of Barclays Bank PLC, Global Head of Equities at JP Morgan, and CEO and President of Citadel Investment Group’s Asian business. The Phoenix Merchant Partners team comprises fifteen professionals, including eleven experienced investment personnel and four seasoned business professionals.
Phoenix Merchant Partners operates with an integrated approach, emphasizing strong structuring capabilities to foster long-term partnerships. The firm is committed to delivering the expertise and proven track record of its leadership team to provide effective lending solutions in underserved markets.
For additional information about Phoenix Merchant Partners, please visit https://phoenix-merchant.com/.
Contact Information
Taylor Ingraham / Steve Bruce
ASC Advisors
[email protected] / [email protected]
203 992 1230
SOURCE Phoenix Merchant Partners
