MidCap Financial completed an acquisition of a significant portion of Sector Financial’s managed Healthcare Asset Based Lending portfolio, totaling over $500 million in commitments and over $300 million in funded assets.

“We are pleased to expand our portfolio and forge meaningful new partnerships with borrowers in one of our core verticals, serving as a leading capital provider to the healthcare industry and the middle market overall,” said Garrett Fletcher, Product Head of Asset Based Lending at MidCap Financial.

MidCap Financial is a middle-market focused, specialty finance firm that provides senior debt solutions to companies across all industries. As of December 31, 2022, MidCap Financial provides administrative or other services for over $45 billion of commitments. MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc, pursuant to an investment management agreement. Apollo had assets under management of approximately $548 billion as of December 31, 2022, in credit, private equity and real assets funds.