Dechert LLP provided legal counsel to BDCA. Blank Rome LLP provided legal counsel and Hovde Group served as financial advisor to Siena.
Business Development Corporation of America (“BDCA”), an affiliate of Benefit Street Partners L.L.C., executed its acquisition of a controlling interest in Siena Capital Finance LLC (“Siena”) from Solaia Capital Advisors LLC (“Solaia”).
BDCA is a non-traded business development company with a $2.5 billion investment portfolio, which primarily consists of loans to middle market companies. Siena is a leader in the asset-based lending business and the
investment complements BDCA’s core private debt business and broadens the suite of financing solutions available to its clients.
The Dechert team advising BDCA included corporate partners Thomas Friedmann (Picture), Ken Young and Michael Darby with associates Avryl Klich, Colleen Mallick; finance partner Jay Alicandri with associate Ben Leese; financial services partner David Harris with associate Jonathan Gaines; tax partner Steve Clemens; employee benefits partner Eric Rubin with associates Ellie Kang and Aryeh Zuber; and labor associates Jeff Rubin and Rhiannon DiClemente.
Involved fees earner: Jay Alicandri – Dechert; Steven Clemens – Dechert; Michael Darby – Dechert; Rhiannon DiClemente – Dechert; Thomas Friedmann – Dechert; Jonathan Gaines – Dechert; David Harris – Dechert; Ellie Kang – Dechert; Avryl Klich – Dechert; Ben Leese – Dechert; Colleen Mallick – Dechert; Jeffrey Rubin – Dechert; Kenneth Young – Dechert; Aryeh Zuber – Dechert; Eric Rubin – DLA Piper;