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Non-Traded BDC Corporate Capital Trust funds over $300 million

CNL’s Corporate Capital Trust (CCT), a non-traded business development company (BDC), recently announced it sourced and funded seven new originated transactions during the fourth quarter of 2013. The deals totaled more than $300 million and included senior-secured, subordinated, and equity investments.

The first of three notable investments included $112 million into the Waltham, MA based Excelitas Technologies in both senior debt and equity. Excelitas, founded in 1947, is a global technology leader that develops customized, high performance optoelectronic solutions for equipment manufactures.

Humanetics, the world’s leading supplier of crash test dummies, received a $30 million senior secured term loan from CCT.

Lastly, OAG Holdings III, LLC, a private oil and gas company focused on South Central Texas’s Edwards oil trend, received a $20 million senior secured loan. This deal also includes a participating royalty interest; however, the specifics were not made available.

“We are happy with the progress made during the fourth quarter to further advance the portfolio by funding originated transactions with these seven companies,” says Andy Hyltin, CEO of Corporate Capital Trust.

Through September 2013, CCT’s portfolio consisted of 117 companies with investments in known entities such as Avaya, Inc., Talbots, Inc., and Jacuzzi Brands, Inc. Senior debt represents 72.1% of all investments through the same period.

Hyltin continued, “Our partnership with KKR and the provisions of our allocation policy have allowed us greater access to a broad range of investment opportunities in established companies, evidenced by approximately $675 million in originated transactions as of Dec. 31, 2013.”

Corporate Capital Trust is a non-traded business development company that allows individual investors the opportunity to invest in privately owned American companies. CCT is externally managed by CNL, its sponsor, and KKR, a leading global investment firm.