TORONTO, Dec. 21, 2023 (GLOBE NEWSWIRE) -- Ninepoint Partners LP (“Ninepoint”), the manager of Ninepoint-TEC Private Credit Fund II (“Ninepoint-TEC” or the “Fund”), today announced that it has been recognized with a Deal of the Year Award from ABF Journal. The award recognized Ninepoint and Bank of Montreal (“BMO”) for the $100 million revolving credit facility BMO provided to Ninepoint earlier this year.
The credit facility, which was announced in April, included $50 million committed and an additional $50 million accordion and is being used to support the Fund’s continued growth, new origination activity, and liquidity requirements. BMO acted as the Sole Arranger, Sole Bookrunner and Agent for the credit facility and conducted extensive due diligence on the Fund and its underlying loans, the Fund’s sub-advisor, Third Eye Capital Management Inc., and the Fund’s manager, Ninepoint Partners.
“We are proud to be recognized alongside BMO in ABF Journal’s prestigious Deal of the Year awards,” said John Wilson, Co-CEO and Managing Partner of Ninepoint Partners. “The award is a testament to the significance of our relationship with BMO, a top-tier Canadian bank, on a unique and flexible credit facility that is focused on supporting the growth of the Ninepoint-TEC strategy in alignment with the continued demand for private credit exposure among investors seeking diversified return streams that are largely uncorrelated to public markets.”
The ABF Journal Deal of the Year awards acknowledge some of the most unique and interesting transactions of the year, providing insight into the year’s deal-making environment. The deals recognized were chosen by the ABF Journal editorial team based on reader nominations, reader popularity and ABF Journal advisory board recommendations. ABF Journal considered deals of all types, including asset-based loans, factoring facilities, purchase order financings and venture debt transactions.
About Ninepoint Partners LP
Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing more than $7.8 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies spanning Equities, Fixed Income, Alternative Income, Real Assets, F/X and Digital Assets.
For more information on Ninepoint, please visit www.ninepoint.com or contact us at 416.362.7172 or 1.888.362.7172 or invest@ninepoint.com.
About BMO Bank of Montreal
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $1.14 trillion as of October 31, 2022 and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
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