Capitala Finance Corp. has formed a joint venture with CION Investment Corporation ("CION") to create CION /Capitala Senior Loan Fund I, LLC. CION is a non-traded BDC with approximately $1.1 billion of assets under management as of March 31, 2015. CION is sub-advised by an affiliate of Apollo Global Management, LLC ("Apollo"). The joint venture is expected to invest primarily in senior secured loans to broadly syndicated and larger middle-market companies.

Capitala and CION have committed to initially provide up to $50 million of equity to the joint venture, with Capitala providing up to $10 million and CION providing up to $40 million. In addition, the joint venture is in negotiations to obtain third party asset-level financing. Capitala and CION expect to begin funding the portfolio with new investments during the third quarter of 2015. 

"The joint venture with CION marks another key step in the growth of Capitala's liquid credit strategies and provides an opportunity to strengthen our relationship with CION, Apollo, and the leveraged finance desks who have all been great partners to date," stated Joseph B. Alala, III, Chairman and CEO of Capitala.

Capitala Finance Corp. is a business development company that invests primarily in traditional mezzanine, senior subordinated and unitranche debt, as well as senior and second-lien loans and, to lesser extent, equity securities issued by lower and traditional middle-market companies. The company is managed by Capitala Investment Advisors, LLC. F

CION is a middle-market loan fund that is structured as a publicly registered, non-traded business development company. CION offers individual investors the opportunity to invest primarily in the senior-secured debt of private U.S. middle-market companies.