Anthracite Touts $93M Capital Infusion

Anthracite Capital Inc., New York, has announced a $93.5 million capital investment in its common and preferred stock by DLJ Real Estate Capital Partners Inc. Anthracite reported that it has issued and sold to DLJ RECP $23.4 million of common stock at $6.69 per share and $70.1 million of cumulative redeemable convertible preferred stock. In connection with the preferred stock investment, Anthracite's board has been expanded to include Andrew P. Rifkin, managing partner of DLJ Real Estate Capital Partners. Richard M. Shea, Anthracite's president and chief operating officer, said the transaction positions the company to respond to "the dislocations in the global credit markets." He noted that the investment by DLJ RECP represents the resumption of a strategic partnership that began in 1999 and ended in 2002. Anthracite, which is managed by Black/Rock Financial Management, can be found online at http://www.anthracitecapital.com.