Spouting Rock Asset Management LLC, a multi-boutique manager platform offering investment services, has merged with Old Hill Partners Inc., an alternative asset manager concentrating on asset-based lending transactions with small and medium sized firms.
The deal creates a newly formed subsidiary of Spouting Rock, Spouting Rock Alternative Credit, LLC. The new group will contain Old Hill’s lending business and operate as the investment advisor to the firm’s existing funds and investment vehicles.
Old Hill targets borrowers looking for $10-$50 million in financing with floating rate coupons and interest rate floors. The firm offers customizable transactions secured by common asset types.
“Old Hill has created a unique opportunity for investors striving to generate income in private debt transactions,” said Spouting Rock Asset Management CEO, Andrew Smith. “The senior portfolio management team brings over 20 years of experience sourcing and constructing transactions. We look forward to leveraging their expertise to expand upon the credit offerings available on the Spouting Rock platform.”