Three Insider Buys for THL Credit
Terrence Olson is the chief financial officer as well as the chief operating officer. He is responsible for finance operations, administration and information technology. Olson is also involved in strategic initiatives, capital raising and investor relations. Olson is a speaker and presenter at financial and private equity conferences and is a board member for the Financial Executive Alliance.
Stephanie Sullivan is the chief compliance officer as well as general counsel for CHL Credit. Her role includes the legal and compliance review of THL Credit’s business operations, investing transactions, regulatory filings and strategic initiatives.
Keith Hughes is the lead independent director at THL Credit. He is also a director at Fidelity National Information Services as well as Children’s Medical Center of Dallas.
THL Credit is an externally managed, non-diversified, closed-end management company that has chosen to be treated as a business development company. THL Credit invests primarily in junior capital securities, including subordinated debt and second lien secured debt. THL Credit is headquartered out of Boston, Mass., and has a market cap of $406.57 million.
As of Dec. 31, 2012, THL Credit’s investment portfolio was at $394.3 million across 34 portfolio companies. This total increased by 48% from 2011. The net increase in net assets for 2012 was $27.6 million or $1.26 per diluted share. The net investment income was $9.0 million or $0.34 per diluted share based on weighted average common shares out withstanding.
“During 2012, we completed 19 new investment transactions and made seven follow-on investments totaling $277 million in debt and equity capital,” said James Hunt, CEO of THL Credit. “We have an active pipeline today that includes an increasing number of unsponsored opportunities. While we continue to maintain our cautious view on the economy, we are optimistic that a gradually improving economic backdrop will continue to lead to an increasingly active first half of 2013.”
Guru, Leon Cooperman, currently holds 1,880,307 shares of TCRD.
With shares down 0.91% this morning, THL Credit trades at $15.31.
For more information of THL Credit’s insider trades, look at the TCRD Insider Trade History.