Billing Tree and Parthenon Capital Partners

October 2016

Madison Capital Funding LLC closed a senior debt facility to finance the majority recapitalization of Billing Tree by Parthenon Capital Partners, as the dealer announced. Madison Capital is the Sole Lead Arranger and Administrative Agent; further terms were not disclosed.

Billing Tree is a leading payment processor and payment solutions provider.

Founded in 2001, Madison Capital Funding LLC is a market leader in supporting middle market private equity sponsors with cash-flow based corporate finance products. Since inception, Madison has invested over $24.0 billion in over 1,000 middle market transactions with more than 265 private equity sponsors.

The loan discussed does not represent an account’s entire portfolio and in the aggregate, may represent only a small percentage of an account’s portfolio holdings. A complete list of all holdings is available upon request; please contact It should not be assumed that recommendations made in the future will be profitable or will equal the performance of the loans mentioned herein. MCF #1720241