Bow River Capital, a Denver-based alternative asset manager, announced that it has acquired the asset-based financing business of Dallas-based Park Cities Asset Management, an asset manager focused on providing capital solutions to the lower middle market.
The acquisition expands Bow River’s capabilities in private credit with the addition of a 12-person team and strategy “focused on originating privately negotiated, non-traded loans typically with 2-3 year terms, targeting attractive yields in asset-based finance.”
Founded in 2018 by J. Andrew Thomas and Alex Dunev, Park Cities provides flexible, secured financing solutions “across the capital structure to lower middle market companies across a variety of sectors.”
Since its founding, Park Cities has deployed more than “$2 billion across more than 50 portfolio companies and distributed over $150 million to investors.”
Bow River Capital Founder & Chief Executive Officer Blair Richardson:
“This acquisition rounds out Bow River’s private credit offering and is an important milestone in our vision of building a comprehensive, multi-asset alternative investment manager focused on the Rodeo Region.”
As noted in the update, Bow River Capital is “a private alternative asset manager based in Denver, Colorado, focused on investing in the lower and middle market in five asset classes: defense technology, private credit, private equity, real estate, and software growth equity.”
Through its subsidiary Bow River Advisers, LLC, Bow River Capital also offers the Bow River Capital Evergreen Fund “designed to provide institutional-quality private market access to a broader set of investors.”
Collectively, the Bow River Capital team has “deployed capital into diverse industries, asset classes and across the capital structure.”
Bow River’s Rodeo Region includes “14 states in the Rocky Mountain West and Southwest where the firm has been building relationships and investing for more than 20 years.”
Bow River Capital Evergreen Fund is ‘distributed by Foreside Financial Services, LLC, which is not affiliated with Bow River Capital or its affiliates.’
As mentioned in the announcement, Park Cities Asset Management is an asset-based finance firm “specializing in providing innovative financial solutions to the lower middle market.”
With a focus on delivering value and performance, Park Cities combines industry expertise with technology to “meet the needs of its clients.”
