KeyCorp announced that Mohit (Mo) Ramani will join Key as Chief Risk Officer (CRO), effective January 23, 2025."I am very pleased to welcome Mo to Key," said Chris Gorman, Chairman and Chief Executive Officer of KeyCorp. "I am confident that with Mo's leadership, experience, and expertise we will continue to elevate our risk management practices and culture, further enabling strong, profitable growth for Key."Ramani joins Key from Truist Financial Corporation where he has served in increasingly
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January 15, 2025 @ 08:17 AM
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Second Avenue Capital Partners (“SACP”), a Schottenstein affiliate, along with Alpha Wave Global and Sagard Credit, announced the closing of a new term loan and revolving credit facility for True Religion Apparel, Inc. SACP once again served in various roles for this transaction including as Sole Arranger, Revolver Agent, Sole Revolver Lender and Term Loan Lender.The new credit facilities supported the recently announced acquisition of a controlling stake in True Religion by ACON Investments
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January 15, 2025 @ 08:15 AM
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KBRA released research that considers the themes that matter for private credit in 2025.Key Takeaways
Trump 47 is expected to have a mixed impact on the private credit industry. The prospects for lower taxes and reduced regulations are likely to add fuel to the pent-up desire for exits, driving private credit loan growth and acting as a tailwind to portfolio company credit quality. Meanwhile, renewed inflationary concerns have already caused markets to anticipate fewer rate cuts. A mere two
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January 15, 2025 @ 08:10 AM
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Amerisource Business Capital closed and funded a $3,500,000 senior credit facility for a Texas-based private equity firm specializing in technology consulting and investment.Matt Brice, Relationship Manager at Amerisource, stated, “Our partnership with this company is primed to drive growth and create new opportunities for both organizations.” Bill Herrington, Executive Vice President of Amerisource, further remarked, “This transaction underscores our ongoing commitment to supporting innovative
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January 15, 2025 @ 08:09 AM
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Siena Lending Group closed a new senior secured credit facility for FeraDyne Outdoors LLC, a manufacturer and wholesaler of leading brands in outdoor hunting gear and archery. The new facility consists of a revolving line of credit, providing FeraDyne with access to enhanced liquidity and the ability to support its strategic business objectives."It was a pleasure working with Siena” said Don Germano, the CEO of FeraDyne Outdoors. “The team took a collaborative approach, enabling us to implement
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January 15, 2025 @ 08:08 AM
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Diamond Comic Distributors has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Maryland to facilitate the restructuring of its business. As part of the restructuring process, Diamond has received a $39 million stalking horse bid from an affiliate of Universal Distribution (“Universal”) for Alliance Game Distributors.The Company has received commitments for up to $41 million in
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January 15, 2025 @ 08:01 AM
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The private credit firm Flatbay Capital announces its 2024-2025 expansion initiative to broaden its market reach and visibility. Managing partners, Elliot Smith and Jorge Puig spearheaded the movement by promoting and hiring several employees in Arizona, Central Texas, Colorado, and Georgia. They now have boots on the ground in Austin, Atlanta, Denver, and Phoenix, in addition to their existing markets in Dallas-Fort Worth, Houston and San Antonio. Since its inception in 2019, Flatbay has
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January 15, 2025 @ 07:39 AM
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Moritt Hock & Hamroff announced that Ira S. Zaroff and Richard M. Zaroff have joined the firm’s growing Litigation practice, working out of its New York City office. Ira joins the firm as a Partner while Richard joins as Senior Counsel. They previously served as founding partners of Zaroff & Zaroff, a boutique New York complex commercial litigation firm."Having run their own successful practice for many years, Ira and Richard possess a wealth of experience in complex commercial litigation
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January 15, 2025 @ 07:16 AM
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Alvarez & Marsal (A&M) announced the appointment of Nathan Ray as a Managing Director within its Healthcare Industry Group. Ray’s hiring exemplifies the practice’s continued growth, dedicated senior talent investments and expansion of offerings at the intersection of healthcare and technology. Ray’s joining augments the Healthcare Industry Group’s ability to develop bespoke, technology-driven solutions for healthcare services organizations to advance growth and profit goals. Ray brings more than
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January 15, 2025 @ 07:05 AM
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Abacus Finance Group served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger to support the acquisition of Senproco and Groomer’s Choice by Harbour Group. Also, Abacus Finance made an equity co-investment in Senproco and Groomer’s Choice.Senproco, along with its wholesale distribution division, Groomer’s Choice, is a leading manufacturer and one-stop-shop provider of pet grooming supplies. Based in St. Louis, Harbour Group is a privately owned operations-focused company
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January 15, 2025 @ 07:00 AM
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Sallyport, an operationally focused lower to middle-market private equity firm, announced the closing of its first fund, Sallyport Partners Fund. The fund exceeded its target of $150 million, closing with $160 million in total capital commitments. The Houston-based firm is led by Chairman Doug Foshee and Managing Partners Kyle Bethancourt and Ryan Howard. After achieving top decile returns at Foshee's family office for over a decade, Foshee, Bethancourt, and Howard established Sallyport Partners
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January 14, 2025 @ 08:30 AM
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Encina Private Credit (“EPC”) served as Administrative Agent on a Senior Secured Credit Facility supporting Quadriga Capital portfolio company Ipsen International Holdings, GmbH (“Ipsen”). Ipsen is a global manufacturer of mission-critical, highly engineered material transformation and treatment technology and related aftermarket parts and services. The transaction supported the refinancing of existing credit facilities and provided capital to support the company’s growth. Encina provided a
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January 14, 2025 @ 08:25 AM
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Inhibrx Biosciences, a biopharmaceutical company with two programs in ongoing clinical trials, entered into a loan and security agreement with Oxford Finance LLC ("Oxford", together with certain of its affiliates party thereto, the "Lenders"), pursuant to which the Lenders provided a five-year term loan facility for up to $150 million.The Credit Facility closed on January 13, 2025. Pursuant to the LSA, the Company received an initial Term Loan of $100 million funded on the Closing Date. An
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January 14, 2025 @ 08:15 AM
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Gordon Brothers has provided Peavey Industries LP (Peavey) a financing package of up to C$155 million, consisting of a C$105 million first-lien revolving credit facility, a C$30 million first-in, last-out term loan, and a C$20 million consignment program, to support Peavey’s go-forward strategy.Additionally, Gordon Brothers will provide store and inventory rationalization, vendor support, portfolio evaluation and lease renegotiations to holistically support the continued operations of the
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January 14, 2025 @ 08:10 AM
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Client: Headquartered in Texas, this private equity-owned and well-established print house specializes in custom labels and printing. The Company has built a strong reputation for delivering innovative, customized solutions that meet the unique needs of customers across multiple industries, offering over 80 different types of custom print labels, custom branded apparel and uniforms and promotional products, as well as individual customer service attention. Situation: In a rapid growth and
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January 14, 2025 @ 08:03 AM
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