We advised Great Elm Capital on the transaction

Davis Polk advised Great Elm Capital Corp., a publicly traded business development company, in connection with its issuance of approximately 1.1 million shares of common stock in a private placement, for an aggregate gross purchase price of $13.2 million, to Summit Grove Partners, LLC. Davis Polk also assisted in the formation of Summit Grove Partners, LLC.

Great Elm Capital Corp., based in Palm Beach Gardens, Florida, is an externally managed business development company that seeks to generate both current income and capital appreciation through debt and income generating equity investments, including investments in specialty finance businesses and CLOs.

The Davis Polk investment management team included partner Christopher P. Healey, counsel Matthew R. Silver and associate Saloni Pant. Partner Hillary A. Coleman and associate Xi (Brooke) Zheng provided capital markets advice. Members of the Davis Polk team are based in the New York and Washington DC offices.

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