NEW YORK, April 25 (Reuters) - Oxford Finance, which makes loans to life science and healthcare companies, said on Monday it secured $460 million in commitments from Sumitomo Corp of America and private equity firm Welsh, Carson, Anderson & Stowe.
Oxford has been Sumitomo's majority-owned subsidiary since 2004. Welsh Carson, a $20 billion private equity firm with a focus on healthcare, has invested alongside Sumitomo in Oxford.
Oxford, which provides senior debt to healthcare companies, will now be jointly held by both entities.
Oxford said it will use the new equity capital to boost origination and portfolio growth.
Macquarie Capital acted as the exclusive financial advisor to Oxford Finance.
(Reporting by Paritosh Bansal; editing by Andre Grenon) Keywords: OXFORDFINANCE/ (paritosh.bansal@thomsonreuters.com +1 646 223 6113; Reuters Messaging: paritosh.bansal.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Oxford has been Sumitomo's majority-owned subsidiary since 2004. Welsh Carson, a $20 billion private equity firm with a focus on healthcare, has invested alongside Sumitomo in Oxford.
Oxford, which provides senior debt to healthcare companies, will now be jointly held by both entities.
Oxford said it will use the new equity capital to boost origination and portfolio growth.
Macquarie Capital acted as the exclusive financial advisor to Oxford Finance.
(Reporting by Paritosh Bansal; editing by Andre Grenon) Keywords: OXFORDFINANCE/ (paritosh.bansal@thomsonreuters.com +1 646 223 6113; Reuters Messaging: paritosh.bansal.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.