AMERICAS DISTRESS DAILY: Confluence Technologies Seeks More Cash

Confluence Technologies Inc. is in discussions with its creditors to provide the maker of investment management software a new round of cash and possibly lower its interest payments, according to people familiar with the situation.

Confluence, which is backed by private equity firm Clearlake Capital Group, would receive around $60 million of liquidity from a group of first-lien lenders, said the people, who asked not to be identified discussing a private matter. Clearlake would provide roughly $20 million of preferred equity to help Confluence bolster its cash reserves, the people said.

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