Thursday, July 12, 2012

Robert Johnson Operating Small Business Investment Company

Robert Johnson
RLJ Credit Opportunity Fund, one of several business ventures operated by Black Entertainment Television Founder Robert Johnson, has been licensed by the Small Business Administration to operate as a Small Business Investment Company.

Among investors are Deutsche Bank, Sun Trust, Wells Fargo and Northern Trust. The fund will launch with $70 million in capital, and plans to raise a total of $225 million. The relationship with partner banks will demonstrate that banks are willing to invest in minority companies that can generate  returns and help meet their Community Reinvestment Act goals. The fund will focus on financing for minority and small businesses nationwide.

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