Varagon backs sweet Tenex deal

Private credit firm Varagon Capital Partners’ latest loan went to Tenex Capital Management, which is backing JTM Foods, the largest manufacturer of handheld snack pies in North America.

Varagon was the administrative agent, joint lead arranger, joint bookrunner and syndication agent on a senior secured credit facility for the acquisition. The New York-based firm has invested nearly $18 billion with over 200 borrowers backed by private equity sponsors since its founding in 2014.

As for Tenex, the team uses an in-house team of hybrid investment professionals skilled in operational leadership, investing and capital . . .

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