Main Street Capital Corporation announced on January 7, 2025, the full exit of its debt and equity investments in Pearl Meyer & Partners, LLC. This exit occurred upon the completion of a majority recapitalization with a new financial sponsor.
Main Street realized a significant gain of $53.7 million on its equity investment in Pearl Meyer, which was $6.2 million above its fair market value as of September 30, 2024. Additionally, Main Street received total dividends of $31.6 million over the life of its equity investment.
On a cumulative basis since the initial investment in April 2020, Main Street achieved an annual internal rate of return (IRR) of 69.0% and a 7.7 times money invested (TMI) return on its equity investment. Including both debt and equity, the cumulative IRR was 32.7% and a 2.1 TMI return.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.