Michael Terhorst

Michael leads teams that provide leverage loans and equity co-investments for Antares Capital, the preeminent middle-market lender for private equity-backed transactions. His cross-functional deal teams are responsible for all phases of the new deal process: buy-side due diligence; loan structuring, negotiation, and legal documentation; sell-side loan syndication.

Michael has extensive investment experience: (i) senior debt, unitranche, and minority equity investments, (ii) companies with EBITDA between $8MM to $50MM+, (iii) companies with positive and negative financial performance post-investment, (iv) closed 50+ transactions with $1.5B+ retained balance sheet commitments, and (v) closed 10+ loan restructurings, including six during the 2008-2010 economic cycle. While he has closed transactions across a diverse range of industries, Michael has recently helped lead Antares’ return to the financing of healthcare companies in conjunction with the sale of Antares to CPPIB in 2015.

In addition to transaction experience, Michael has also (i) led teams on internal operational projects and post-acquisition integrations, (ii) developed and grew relationships with c-suite executives, private equity clients, investment banks, and syndicate loan investors, and (iii) been involved with recruiting, mentoring and training activities.

Michael’s career began with GE Capital’s Financial Management Program where he completed rotations in corporate finance, healthcare finance, and commercial real estate. He completed his undergraduate degree at Michigan State University (Honors College, Finance) and his MBA at Northwestern University’s Kellogg Graduate School of Management (focus on Entrepreneurship and Management).

The most impactful experience on the lives of Michael and his wife Elizabeth was the journey of their first child, Sophia. ‘Sophie’ was diagnosed with a terminal genetic disease at six weeks of age, and passed away on her nine-month birthday. Sophie’s journey compelled Michael and Elizabeth to become involved with numerous advocacy initiatives, and combining their experience as parents through such a journey, Elizabeth’s experience as a healthcare provider (Doctorate in Physical Therapy, OSC certified), and Michael’s business background, they have (i) partnered with a leading Silicon Valley based lab to advance pre-natal genetic testing, (ii) designed research studies with Lurie Children’s Hospital in Chicago to improve physician-patient/family communication, and (iii) begun working on pediatric palliative / hospice care projects with Hospice of Michigan, Helen DeVos Children’s Hospital in Grand Rapids, MI and C.S. Mott Children’s Hospital in Ann Arbor, MI.

Michael’s other interests include international travel and food, athletics, and he completed the Chicago Marathon. He previously served on the Advisory Board for the Financial Markets Institute at Michigan State University’s Broad School of Business, and currently serves on the Foundation Board for Hospice of Michigan. Michael and Elizabeth volunteered in Phnom Penh, Cambodia at orphanage for children with disabilities and HIV, and currently reside in East Grand Rapids, MI with Sophie’s three younger siblings.