Wednesday, March 16, 2011

TPG Specialty Lending - Update

TPG Specialty Lending (TPGM) filed an amended 10-12G as well as an 8K today with the SEC.  I am still reviewing the amended 10-12G and if I see anything material will post it here. The 8K was signed by Vice President Ronald Cami, a former Skadden Alum (read more about him here).

Some things of note:
  • TPG Specialty Lending has a CIK with the SEC - 0001508655
  • The Administrator (TSL Advisers) will be reimbursed by TPGM for "certain initial organization and operating costs up to an aggregate of $1.5 million." TSL has already stated the costs have exceeded that amount, so the $1.5 million will be expensed right away.
  • The initial agreement will remain in effect until March 15th, 2013 and will be subject to yearly renewal after that.
More to come

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