General Electric (NYSE: GE) has reportedly distributed nondisclosure agreements (NDAs) to one dozen potential bidders of GE Capital Sponsor Finance, which makes to loans to private equity-backed companies and includes the coveted GE Antares unit. According to peHub, which first reported the news, companies that have signed NDAs include: Apollo Management, Ares Management and Mitsubishi UFJ Financial Group Inc. GE Capital Sponsor Finance is expected to sell within 90 days.
GE Capital Sponsor Finance -- which, in addition to Antares includes TMT, GE Equity and the Bank Loan Group -- has long played a powerful role in middle-market dealmaking. The largest lender in the space by a wide margin, it accounts for about 25 percent of all loans made to companies with revenues between $25 million and $500 million. GE Capital has won Mergers & Acquisitions M&A Mid-Market Lender of the Year award twice first for 2010 and most recently for 2014.