3Q 2008 HIMCO Mezzanine and Private Equity Investment Quarterly News Page 1 of 1
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3rd Quarter 2008
Mezzanine & Private Equity Investment Quarterly News
Hartford Investment Management Company's Mezzanine & Private Equity Group announces the recent completion of a mezzanine and private equity transaction and the realization of one investment:
The Mezzanine and Private Equity Group announces that it has realized on its investment of $10.0 million in senior subordinated debt in The Cortland Companies, Inc. (Cortland) when the company was sold. Cortland is a global designer, manufacturer and distributor of custom-engineered electro-mechanical cables and umbilicals, high performance synthetic ropes and value-added steel cable and Realization on $10.0 assemblies. Cortland's products are utilized in critical applications in diverse end million in senior markets including offshore oil and gas, marine geophysical survey, commercial diving, subordinated debt marine transport, medical, security, defense and aerospace. This investment was made in 2007 to support the acquisition of Cortland by Cortec Group Fund III, L.P.
The Mezzanine and Private Equity Group announces that it has invested $5.0 million in senior subordinated debt to support the growth of Papa Gino's Holding Corp. (PGH) by Bunker Hill Capital, L.P. PGH owns two dominant New England quick-service restaurant concepts: Papa Gino's, operating in the pizza/Italian segment, and D'Angelo Sandwich Shops, operating in the sandwich segment. Both concepts, each with over 35 years of operating history, hold significant market positions in their respective segments with a total of 373 company-owned, franchised and licensed restaurants located throughout New England.
$5.0 million in senior subordinated debt
About Hartford Investment Management Company's Mezzanine & Private Equity Group The Mezzanine & Private Equity Group of Hartford Investment Management is a leading provider of capital to private equity markets. The Group provides direct mezzanine debt and equity and can provide equity on a stand-alone basis. We are responsive, competitive and we seek to partner with like-minded private equity investors and management teams. Our deep understanding of the middle market provides us with an advantage when providing junior capital. In addition to our direct investment activities, we seek to invest into top-performing middle-market private equity and mezzanine funds that will provide a source of co- investment opportunity. Selectively, we will also invest in top-performing funds that focus on investments outside of our middle-market strategy. Currently, we manage approximately $1.9 billion in mezzanine and private equity assets and commitments.
About Hartford Investment Management Hartford Investment Management Company, a wholly-owned subsidiary of The Hartford Financial Services Group, Inc., manages approximately $140.9 billion ("Hartford Investment Management") on the behalf of corporate retirement plans, endowments, foundations, insurance companies, mutual funds, public funds and other institutional accounts.
For more information contact: Bill Holm, [email protected] 860-297-6448 Greg Foy, [email protected] 860-297-6440 Tim Greene, [email protected] 860-297-6408 Chris Murphy, [email protected] 860-297-6338 Thorsten Suder, [email protected] 860-297-6469 Rachel Lincoln, [email protected] 860-297-6267 Chris Barbier, [email protected] 860-297-6253
55 Farmington Avenue Hartford, CT 06105 www.himco.com
The foregoing is not intended as a solicitation of investment management services, but rather an announcement of the transactions identified herein to the private equity market. The specific securities identified and described herein represent all of the direct mezzanine investments (defined as including all direct investments by Hartford Investment Management Company's Mezzanine & Private Equity Group, including debt and equity securities, but excluding fund investments) purchased, sold or recommended for The Mezzanine & Private Equity Group's advisory clients during the prior three months, and the reader should not assume that investments in the securities identified and discussed were or will be profitable. For a complete list of such securities, please contact Hartford Investment Management Company's Mezzanine & Private Equity Group.
Hartford Investment Management Company, a wholly-owned subsidiary of The Hartford Financial Services Group, Inc., is a registered investment adviser providing investment services to mutual funds, employee benefit plans, insurance companies and other institutional accounts.
All assets as of 9/30/08
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http://www.himco.com/content_documents/mezz/08MPE-011_qtr_eNews.htm 5/15/2013