Prospect Capital exits investment in Harbortouch Payments

• The company sold its debt and equity investments in Harbortouch Payments to Searchlight Capital Partners, and expects $328M in proceeds. The total transaction size was not disclosed. As part of the deal, Prospect (NASDAQ:PSEC) invested $27.5M in newly-issued senior secured second-lien debt in Harbortouch.
• Prospect realized a gross IRR of 14% over the holding period of under three years. The cash-on-cash return was 1.3x.
• Source: Press Release