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Alternative Assets  + Private Debt  |  June 22, 2023
Stellus Provides Unitranche Financing to Recognize
Joe Palmisano
By: Joe Palmisano

Stellus Provides Unitranche Financing to Recognize

Direct lender Stellus Capital Management announced its affiliates acted as administrative agents and provided senior debt financing and an equity co-investment for Recognize Partners’ investment in 2X LLC, a digital B2B marketing-as-a-service (MaaS) provider.

Founded in 2017 by three former B2B CMOs who pioneered MaaS, 2X is a new operating model designed to bring scale to revenue and marketing leaders. The company’s model covers marketing operations, MarTech management, demand creation programs, digital marketing, account-based marketing, analytics and creative services.

“Stellus was a constructive partner, providing a flexible capital solution to support our investment in a truly differentiated business. We look forward to continuing our strong relationship with Stellus going forward,” said Mike Grady, Partner at Recognize.

Formed within the D.E. Shaw Group in 2004, Stellus specializes in senior secured loans in the lower middle market. The firm spun out in 2012 and today manages $2.9 billion across various investment vehicles including closed-end institutional funds, a public BDC and a perpetual non-traded private BDC.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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