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Sutherland Represents Allied Capital Corporation in Merger with Ares Capital Corporation

April 26, 2010

WASHINGTON (April 26, 2010) – Sutherland Asbill & Brennan LLP recently advised Allied Capital Corporation in an over $850 million merger with Ares Capital Corporation. 

The transaction closed April 1, 2010, and is the largest merger ever in the business development company industry.  Allied Capital Corporation was a publicly traded private equity firm that provided debt and equity financing to private and middle-market companies.  Ares Capital Corporation is a publicly traded specialty finance company that provides integrated debt and equity financing solutions to U.S. middle-market companies.

The Sutherland team was led by Corporate Partner Cynthia M. Krus in Washington, D.C., and included Corporate Partner James D. Darrow in Washington, D.C.; Financial Services Partner Steven B. Boehm in Washington, D.C.; Corporate Partners Douglas J. Leary and John J. Mahon in Washington, D.C.;  Corporate Partner Robert E. Copps in New York; Tax Partner Michael R. Miles in Washington, D.C.; and Tax Partners Alice Murtos and Robert J. Neis in Atlanta.

SUTHERLAND ASBILL & BRENNAN LLP
Sutherland Asbill & Brennan LLP is a law firm with global reach known for solving challenging business problems and resolving sophisticated legal issues for many of the world’s largest companies. Founded in 1924, the firm handles matters throughout the United States and worldwide. Seven major practice areas—corporate, energy and environmental, financial services, intellectual property, litigation, real estate, and tax—provide the framework for an extensive range of focus areas, allowing Sutherland attorneys to serve a diverse client base that ranges from small and medium-sized start-up businesses to a significant number of Fortune 100 companies.

                                                                         

DEAL NOTIFICATION

Target & Acquirer name, nation, business description:
Target:
  Allied Capital Corporation;  Washington, D.C.; was a publicly traded private equity firm that provided debt and equity financing to private and middle-market companies.  Allied Capital Corporation was a business development company that was regulated under the Investment Company Act of 1940 

Acquirer:  Ares Capital Corporation; New York, New York; is a publicly traded specialty finance company that provides integrated debt and equity financing solutions to U.S. middle-market companies.  Ares Capital Corporation is a closed-end, non-diversified management investment company that has elected to be regulated as a Business Development Company under the Investment Company Act of 1940.

Date Deal Announced:  October 26, 2010

Date of Completion (if applicable):  April 1, 2010

Deal status:  Completed

Which party firm advised:  Allied Capital Corporation

Advisory role:  Legal Counsel

Deal Description or comments (if necessary): 
Sutherland Asbill & Brennan LLP recently advised Allied Capital Corporation in its merger with Ares Capital Corporation. 

Value (if disclosed):  Over $850 million

Our Story

Sutherland Asbill & Brennan LLP is an international law firm helping the Fortune 100, industry leaders, sector innovators and business entrepreneurs solve their biggest challenges and reach their business goals. Dedicated to unfaltering excellence in client service, we are known for our business savvy and industry intelligence, providing creative and custom solutions for each of our clients. Industry and business experience makes the difference for our clients.

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