Sidley represented MidOcean Partners, a premier alternative asset manager specializing in middle-market private equity, alternative credit, and structured equity, in the formation of a joint venture with Idea Financial (Idea), a Miami-based, technology-enabled small business lender. The joint venture will provide up to US$225 million in capital to support small business lending.
The joint venture will enable Idea Financial to expand its lending capabilities beyond its existing lines of credit of up to US$350,000, thus providing established small businesses with access to larger financing solutions to support their continued growth.
The Sidley team was led by Blair B. Belsky and Cherie Zhang (Global Finance), and Jessica Day and Maddie Larock (M&A).
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