(Reuters)- Tygris Commercial Finance Group Inc, which plans to provide financing to mid-sized North American companies, announced its formation on Tuesday with more than $1.75 billion in equity commitments.
The company said it is being created in response to credit market problems that have made it difficult for mid-sized companies to obtain capital for liquidity and growth.
Tygris was founded by private equity firms Aquiline Capital Partners, New Mountain Capital and TPG Capital, it said in a statement. Key investors also include private equity firm Diamond Castle Holdings LLC and Hamilton Lane, which it said oversees more than $85 billion of assets.
Tygris said it would acquire US Express Leasing Inc, an equipment finance company, from DLJ Merchant Banking Partners in an all-stock transaction and acquire substantially all of the assets and business of MarCap LLC, a middle market healthcare equipment finance company. (Reporting by Ajay Kamalakaran in Bangalore; Editing by Quentin Bryar)