Deals
Ares Leads $1.8 Billion Private Financing for AffiniPay Deal
- Genstar is buying a stake in the payment processing company
- Comes as private lenders, investors await return to dealmaking
AffiniPay sells payment tools for professional services businesses to accept payment by credit card, debit card and eChecks.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Lenders led by Ares Management Corp. are set to provide a roughly $1.8 billion debt package to support Genstar Capital’s purchase of a stake in payments processor AffiniPay, according to people with knowledge of the matter.
Oak Hill Advisors is also among those helping finance the deal, said the people, who asked not to be identified as the details are private. The transaction will give Genstar a roughly 50% stake in AffiniPay, they said.