Great Elm Group invests $6M to support Great Elm Capital equity raise

Great Elm Group (GEC) announced it has invested $6M in a special purpose vehicle which acquired $24M of common stock in Great Elm Capital (GECC) at net asset value, or NAV. “This transaction leverages GEG‘s key attributes to create a beneficial outcome for all stakeholders,” said Jason Reese, GEG’s Chief Executive Officer. “Raising equity at NAV for our permanent capital vehicle, GECC, will help leverage our infrastructure and help scale our credit platform. In addition, we believe our investment in the special purpose vehicle will deliver a strong return and allow us to grow our recurring revenue streams. GEG is committed to scaling its existing businesses and executing its strategic growth initiatives.”