Bow River Capital acquires Park Cities 29 August 2025US Reporter: Zarah Choudhary
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Bow River Capital, a Denver-based alternative asset manager, has acquired the asset-based financing business of Dallas-based Park Cities Asset Management — an asset manager focused on providing capital solutions to the lower middle market.
The acquisition will expand Bow River's capabilities in private credit with the addition of a 12-person team and strategy focused on originating privately negotiated, non-traded loans typically with 2-3 year terms, targeting attractive yields in asset-based finance.
Founded in 2018 by J. Andrew Thomas and Alex Dunev, Park Cities provides financing solutions across the capital structure and aims to lower middle market companies across a variety of sectors.
Since its founding, Park Cities has deployed more than US$2 billion across more than 50 portfolio companies and distributed over US$150 million to investors.
Blair Richardson, founder and CEO of Bow River Capital, says: “We were attracted to the Park Cities team because of their deep sector expertise, strong track record and like-minded culture.
“This acquisition rounds out Bow River's private credit offering and is an important milestone in our vision of building a comprehensive, multi-asset alternative investment manager focused on the Rodeo Region.”
Andy Thomas, managing partner at Park Cities, adds: “We're excited to join Bow River's platform. Their commitment to long?term partnerships and scale will allow us to accelerate the growth of our lending strategy and deepen service to our investors and lending partners.”
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