NewStar Business Credit, a division of NewStar Financial, Inc. announced it has hired Arthur A. Pesavento as a Senior Vice President in its Chicago office. Art will be responsible for helping to expand NewStar Business Credit’s marketing and origination efforts in the Midwest marketplace with a focus on generating new asset-based financing opportunities with middle market companies.
Art has more than 20 years of experience in structuring, originating, underwriting and managing debt financings for middle market firms. Before joining NewStar, he was a Global Vice President with HSBC. His career, prior to that, includes a series of successful roles at RBS Business Capital, Fleet Capital, and Heller Financial.
“I am excited to be joining NewStar and working with such an experienced and professional team. After working for years with middle market companies to provide financing solutions, I am confident that NewStar Business Credit will provide a great platform for me to offer creative and flexible financing options to clients,” stated Pesavento.
“Art is well-known in the Midwest market and will be a great addition to our origination efforts in the region,” said Milton Iskra, EVP and National Marketing Manager for NewStar. “We are excited to have Art join our growing team. He adds a valuable combination of marketing coverage, credit skills and deal execution experience.”
NewStar Business Credit provides asset-based loans to mid-sized companies operating across a wide range of industries in the middle market, nationwide. Newstar offers a variety of flexible financing options through a combination of revolving lines of credit and term loans, employing funds from $5 million to $35 million.
NewStar Financial (Nasdaq:NEWS) is a specialized commercial finance company focused on meeting the complex financing needs of companies and private investors in the middle markets. The company specializes in providing a range of senior secured debt financing options to mid-sized companies to fund working capital, growth strategies, acquisitions and recapitalizations, as well as, equipment purchases. NewStar originates loans and leases directly through teams of experienced, senior bankers and marketing officers organized around key industry and market segments. The company targets hold positions of up to $30 million and will selectively underwrite or arrange larger transactions for syndication to other lenders. NewStar is headquartered in Boston MA and has regional offices in Atlanta GA, Chicago IL, Dallas TX, Darien CT, Los Angeles CA, New York NY, Philadelphia PA, Portland OR, and San Francisco, CA.