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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.

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