Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HACKENSACK, NJ-Kennedy Funding, the direct private lender based here, has arranged a total of $6 million in financing for Mosaica Education Inc. The New York-based Mosaica owns and operates 40 charter schools in seven states and the District of Columbia.

The borrower will use the proceeds of the loan to open several new schools this fall. The financing was structured as a bridge loan that will be repaid from funds secured through the sale of three charter schools owned by Mosaica and leased to charter schools that the company manages. The loan will also allow the borrower to liquidate part of the equity it had invested in those properties before they were sold. The source of the funding was not disclosed.

Pearson Partners, based in New York, was Mosaica’s financial advisor in securing the financing. Financial backers for Mosaica include JP Morgan Partners, which brought Pearson Partners into the transaction, along with Murphy & Partners, Credit Suisse First Boston, Bessemer Trust, U.S. Trust, Kleiner Perkins and Fidelity.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.