This week we continue our conversation with Kevin Griffin, CEO and Chief Investment Officer of MGG Investment Group LP. MGG is a private, specialty finance group focused on direct lending. Kevin is a veteran private lending investor and former managing director and Credit Committee member at Highbridge Principal Strategies.  Second of two parts – View part one. 

The Lead Left: Kevin, give us an example of credit solutions you’ve provided?

Kevin Griffin: We bought debt in the sports and media space at 50 cents on the dollar, taking out the incumbent lender that had leveraged the business way too much. Our structure included heavy amortization and over time and a heavy warrant component. The fixed costs were high, there was a lot of cash going out to non-productive uses. We’ll help cut costs and get refinanced out.

In another case, we financed a food and beverage company – this one was sponsored –with about $100 million revenues and $11 million ebitda. The management team has a twenty-year history, but it’s essentially a new company. We’ll help the sponsor build and grow it – an industry we have experience in for nearly a decade.