Bryant Park Capital, a leading middle-market investment bank with a focus in the specialty finance industry, announced that Golden Pear Funding, LLC closed in Q1 2016 a $25 million structured sale of a portfolio of pre-settlement advances and entered into a multi-period forward flow agreement totaling up to $100 million with a leading asset manager in the specialty finance sector. Founded in 2008, Golden Pear has quickly developed into the top pre-settlement funding company in the United States, having funded over $270 million dollars in legal advances nationwide. This financing, the company's first forward flow portfolio sale arrangement, provides the company with additional liquidity and additional working capital.
"This forward flow arrangement complements our capital markets activities over the past 12 months, which included a new $150 million senior credit facility and a $60 million junior credit facility. This facility provides the company with additional liquidity and working capital, which will enable us to continue to expand our footprint throughout the United States. We are proud to have partnered with Bryant Park Capital on now our fifth consecutive successful transaction. BPC created a competitive process with high-quality prospective investors, and worked tirelessly with us through every phase of this process," said Jeffrey Cohen, CEO of Golden Pear Funding.
"This transaction, which represents the first closing in a series of structured portfolio sales going forward for Golden Pear, is indicative of rising demand for pre-settlement advances as an asset class, increased institutional interest in the sector, and greater liquidity for high-quality portfolios dedicated to the asset class originated by the industry leaders," added Volfi Mizrahi, Managing Director at Bryant Park Capital.
Golden Pear Funding is an originator of pre-settlement advances in the United States. Golden Pear provides non-recourse advances against potential settlements of legal claims. Legal advances are a way for plaintiffs with strong personal injury cases to receive cash up-front to support living costs. The advances are not used for legal fees and enable plaintiffs' counsel to properly negotiate a legal settlement.
Bryant Park Capital is an investment bank providing M&A and corporate finance advisory services to emerging growth and middle market public and private companies. BPC has deep expertise in the specialty lending and financial services industries and has arranged lines of credit, raised growth equity and assisted in mergers and acquisitions for its clients in a number of the specialty finance subsectors. Our professionals have completed approximately 400 assignments representing an aggregate transaction value of over $80 billion.