Senior Secured Loan Program upsizes available capital to $5.1 billion

By Sara Rosenberg

New York, Jan. 12 - Senior Secured Loan Program, which is jointly managed by Ares Capital and GE Capital, increased its total available capital to $5.1 billion from $3.6 billion, according to a news release.

Specifically, GE is now providing $4.125 billion of capital, up from $3.075 billion, and Ares is now providing $975 million of capital, up from $525 million.

Also, the Senior Secured Loan Program is now permitted to hold loans in a principal amount up to $300 million.

Senior Secured Loan Program was formed in December 2007 to invest in the senior secured debt of middle-market companies. In 2010, it completed 13 investments totaling about $2 billion including loans to 11 new portfolio companies and two existing portfolio companies. As of year-end, total investments outstanding in SSLP were $2.5 billion, net of repayments that occurred during the year.

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