Capitala Finance, CION Investment partner in joint senior loan fund

By Wendy Van Sickle

Columbus, Ohio, July 7 – Capitala Finance Corp. and CION Investment Corp. have jointly formed a new senior loan fund, according to a press release from Capitala.

CION/Capitala Senior Loan Fund I, LLC venture is expected to invest primarily in senior secured loans to broadly syndicated and larger middle-market companies.

The joint venture has an initial commitment of up to $50 million of equity, with Capitala providing up to $10 million and CION providing up to $40 million.

Negotiations to obtain third party asset-level financing are under way, and new investments are expected during the third quarter of 2015, according to the release.

New York-based Cion is a part of the Icon group of companies.

Capitala is a Charlotte, N.C.-based investment company.

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