Cantilever Group (“Cantilever” or the “Firm”), an independent investment firm specializing in middle-market GP stakes, today announced a minority equity investment in Ghost Tree Partners (“Ghost Tree”), a private credit investment firm that provides senior secured, collateral-focused financing to lower middle-market companies.

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Founded in 2021 by Mark Fox, Scott Warner, CFA, and Jeff Willardson, CFA Ghost Tree specializes in making flexible financing solutions for lower middle-market borrowers alongside a vast network of partners with a strong focus on downside protection.

“Our partnership with Cantilever is about more than just growth capital – it’s about finding an investor who shares our long-term view of private credit and believes in our approach to building this firm over the long-term,” said Scott Warner, Co-Founder of Ghost Tree Partners. “Cantilever’s experience collaborating with independent asset managers, and their patient, minority-oriented approach, make them an ideal partner as we continue to invest in our team and scale our business. We look forward to building the next chapter of Ghost Tree together with Cantilever.”

David Ballard, Co-Founder and Managing Partner at Cantilever Group, added, “We are thrilled to partner with the Ghost Tree team. Their disciplined, collateral-focused approach to private credit, and the deep relationships they’ve built with lending partners and investors, give us great confidence in our ability to help support Ghost Tree’s continued growth in the years ahead.”

Sidley Austin LLP served as legal advisor to Cantilever. Berkshire Global Advisors served as exclusive financial advisor and Shartsis Friese LLP served as legal advisor to Ghost Tree.

About Cantilever Group:

Cantilever Group is an independent investment firm that provides GP stakes capital for leading alternative asset management firms. Founded by a group of GP-stakes industry veterans, Cantilever focuses on asset managers in the $500 million – $5 billion AUM range. Cantilever’s capital can be used to accelerate growth, facilitate generational ownership transfer, support acquisitions or lift outs, fund GP commitments, seed new strategies, and provide liquidity to founders. For more information, please visit www.cantilevergroup.com.

About Ghost Tree Partners:

Ghost Tree Partners is an Irvine, California-based private credit investment firm founded in 2021 by Mark Fox, Scott Warner and Jeff Willardson, who worked together for more than 20 years, most recently at PAAMCO Prisma. Ghost Tree makes senior secured, collateral-focused private credit investments in lower middle-market companies. The firm’s flagship investment vehicle – GT Partners – Lone Cypress Fund – is a private evergreen structure fund. For more information, please visit https://gt-gp.com/.

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