Private Credit Trio Extends $2.7 Billion Squarespace Funding
- Blackstone to hold half the loan; Blue Owl, Ares take the rest
- Squarespace to be taken private by Permira in $7 billion LBO
Squarespace headquarters in New York.
Photographer: Bing Guan/BloombergThis article is for subscribers only.
A small group of three private credit lenders will provide a $2.65 billion credit facility to help finance Permira Holdings’s $6.9 billion acquisition of Squarespace Inc., according to people familiar with the matter.
Blackstone Inc. will hold half of the loan while Blue Owl Capital Inc. and Ares Management Corp. will each take a quarter of the facility, according to the people, who asked not to be identified because the details are private. Blue Owl is acting as administrative agent, the people said.