GLM III, LP and its affiliated investment manager GoldenTree Asset Management LP (along with other affiliated investment managers “GoldenTree”), announced the closing of a $500 million collateralized loan obligation (“CLO”) to be managed by GLM III....
Read Story
December 23, 2024, 08:12 AM
|
Cohn & Dussi announced that five of its attorneys have been recognized as Top Lawyers by Boston magazine for 2024. This prestigious accolade is a testament to the firm's commitment to excellence and the outstanding expertise of its attorneys.The...
Read Story
December 20, 2024, 08:00 AM
|
As The Federal Reserve cuts interest rates again, lenders expect further interest rate reductions and have concerns with retail and consumer sectors. Global consulting firm J.S. Held, proudly celebrating 50 transformative years, reveals the “Lending...
Read Story
December 19, 2024, 08:10 AM
|
B. Riley Securities served as sole bookrunner to Roman DBDR Acquisition Corp. II on its $200 million initial public offering. Roman is a blank check company formed for the purpose of affecting a merger, capital share exchange, asset acquisition...
Read Story
December 19, 2024, 07:00 AM
|
Crescent Capital Group, an alternative credit investment firm, closed Atlas Senior Loan Fund XXIV (“Atlas 24”), a collateralized loan obligation (“CLO”) fund with a target par amount of $400 million. Atlas 24 will invest primarily in U.S. senior...
Read Story
December 17, 2024, 07:00 AM
|
Abacus Finance Group announced the receipt of its Small Business Investment Company (SBIC) license and the successful first closing of its inaugural SBIC fund. This significant milestone represents a new chapter for Abacus, solidifying its role as a...
Read Story
December 16, 2024, 07:40 AM
|
HighVista Strategies marks 20 years of pursuing alpha-driven investment strategies. Since its founding in 2004, HighVista has built a reputation for uncovering opportunities in difficult-to-access markets. “Our investment compass centers around what...
Read Story
December 16, 2024, 06:00 AM
|
The TCW Group and Nippon Life Insurance Company announced that Nippon Life intends to commit up to $3.25 billion in additional anchor capital to TCW alternative credit strategies and increase its minority ownership stake in TCW in the future. The...
Read Story
December 13, 2024, 08:10 AM
|
Deerpath Capital Management announced a reset and upsize of Deerpath CLO 2022-1, a $724.7 million collateralized loan obligation (CLO). This marks the largest CLO and largest upsize in the firm’s history.The CLO was originally sized at $373 million...
Read Story
December 13, 2024, 07:50 AM
|
After more than eight decades calling the garment district home, Rosenthal & Rosenthal is moving its headquarters uptown to 300 Park Avenue in the Spring of 2025, marking an exciting step forward for the third generation of the family-owned...
Read Story
December 13, 2024, 07:17 AM
|
Tiger Infrastructure Partners (Tiger Infrastructure) announced that Brookfield Asset Management and its institutional partners (Brookfield), one of the largest owners and operators of infrastructure globally, has made a minority equity investment in...
Read Story
December 12, 2024, 08:12 AM
|
Eldridge Industries is launching Eldridge, an asset management and insurance holding company with approximately $74 billion in assets under management. And Eldridge will be wholly owned by Eldridge Industries and consist of two divisions: Eldridge...
Read Story
December 09, 2024, 08:15 AM
|
Shepherd Ave Capital Acquisition Corporation closed its initial public offering of 8,625,000 units at a price of $10.00 per unit, for aggregate gross proceeds of $86,250,000. The offering size reflects the full exercise of the underwriter’s...
Read Story
December 09, 2024, 07:00 AM
|
SC&H announced the opening of its new office in Chicago. This expansion is SC&H's first physical presence outside the Mid-Atlantic region, bringing the firm's comprehensive investment banking and M&A transaction advisory services to the Midwest...
Read Story
December 05, 2024, 08:01 AM
|
The Fall 2024 Haynes Boone borrowing base and price deck surveys reveal a steady borrowing base outlook despite geopolitical turbulence and evolving energy policies, with a divide in the expectations for oil and natural gas prices.The Borrowing Base...
Read Story
December 05, 2024, 07:52 AM
|
Citizens JMP announced that it served as the exclusive financial advisor to Principal Industries, a portfolio company of Valesco Industries, on its acquisition by Wynnchurch Capital.Headquartered in San Angelo, Texas, Principal is a leading provider...
Read Story
December 02, 2024, 07:06 AM
|
TPG Twin Brook served as administrative agent on debt financing to support NMS Capital’s leveraged buyout of CSL Consulting, an owner’s representative, project management and construction mitigation firm that helps clients execute on their strategic...
Read Story
December 02, 2024, 06:00 AM
|
Blackstone and Santander Corporate & Investment Banking announced an agreement under which funds managed by Blackstone Credit & Insurance (“BXCI”) will acquire interests in a $1 billion portfolio of high-quality infrastructure loans from Santander....
Read Story
November 27, 2024, 08:15 AM
|
Capstone Partners released its 2024 Middle Market Business Owners Survey Report, with insights from privately-owned companies across the U.S. This report combines Capstone's in-depth middle market knowledge with proprietary data obtained from 404...
Read Story
November 27, 2024, 08:03 AM
|
Revolving credit facilities continue to show strong bankruptcy recoveries and offer the highest likelihood of recovery among the various types of rated first-lien debt, according to a new report from Fitch Ratings.Fitch analyzed revolver utilization...
Read Story
November 26, 2024, 08:10 AM
|
J.S. Held acquired substantially all of the assets of Luttrell Wegis, a highly specialized forensic accounting and business valuation firm serving clients throughout California and surrounding states.With 30+ years of experience, primarily in family...
Read Story
November 25, 2024, 07:53 AM
|
SS&C Technologies Holdings announced findings from a new survey: Financial services companies are increasingly leveraging artificial intelligence (AI) to drive operational value. Conducted at the 2024 SS&C Deliver conference, the survey of 213...
Read Story
November 21, 2024, 07:00 AM
|
Silver Point Capital announced the final closing of Silver Point Specialty Credit Fund III, the latest fund in Silver Point's 21-year-old Direct Lending franchise. Inclusive of new commitments to other direct lending vehicles made during the...
Read Story
November 19, 2024, 08:20 AM
|
White Oak Global Advisors announced a new partnership with the United Submarine Alliance (USA) Qualified Opportunity Fund LP.As part of the relationship, White Oak will bring unique capital solutions to domestic manufacturers supplying Columbia and...
Read Story
November 19, 2024, 08:00 AM
|
Bain Capital completed fundraising for its latest Global Special Situations Fund, bringing the total amount raised for its second vintage of funds to $9 billion. This capital base includes Global Special Situations Fund II, which received $5.7...
Read Story
November 19, 2024, 07:00 AM
|
Equify Financial announced the launch of its new division offering receivables lending and ABL capital solutions serving a variety of industry sectors. This new division is officially named Equify Business Funding. The expansion demonstrates...
Read Story
November 14, 2024, 08:15 AM
|
During the first nine months of 2024, Encina Private Credit (“Encina”) provided over $355 million of first out enterprise value loans to a wide range of middle-market companies. Encina continued to partner with direct lenders and private equity...
Read Story
November 14, 2024, 07:00 AM
|
Cedar Croft Consulting acted as a financial advisor for Ted's Hot Dogs' recent senior debt refinancing. Ted’s Hot Dogs, a beloved restaurant chain since 1927, is based in Buffalo, New York. It is famous for its charcoal-broiled hot dogs and...
Read Story
November 13, 2024, 07:00 AM
|
IBC Bank announced a strategic partnership with Finanta, a pioneer in financial technology solutions, aimed at revolutionizing its commercial loan originations, collateral management, portfolio management and all lines of business in commercial...
Read Story
November 11, 2024, 05:00 AM
|
Monroe Capital closed its inaugural collateralized fund obligation (“CFO”) known as Monroe Capital CFO I, Ltd. The $315 million CFO provides investors access to a diversified portfolio of Monroe’s strategies, including Monroe’s flagship senior...
Read Story
November 07, 2024, 08:15 AM
|
Lendscape appointed Patrick Myles as Chief Technology Officer. With over 25 years of experience in senior technology leadership roles, Myles will spearhead Lendscape’s continued innovation and product development, ensuring its solutions remain at the...
Read Story
November 07, 2024, 06:00 AM
|
Asset Based Lending (ABL), a provider of private capital to real estate investors, successfully closed its second unrated securitization, ABL 2024-RTL1, totaling $175 million. This marks the second entry in their securitization program and features...
Read Story
November 05, 2024, 07:00 AM
|
Ares Management Corporation announced that funds managed by its Credit Group closed approximately $12.3 billion in U.S. direct lending commitments across 86 transactions during the third quarter of 2024 and approximately $44.5 billion in direct...
Read Story
November 04, 2024, 08:15 AM
|
Northrim BanCorp announced the acquisition of Sallyport Commercial Finance in an all cash transaction that closed on October 31, 2024 and is valued at approximately $53.9 million. Sallyport Commercial Finance, LLC is a leading provider of factoring...
Read Story
November 04, 2024, 08:10 AM
|
eCapital announced the successful acquisition of Optimum Finance Ltd., a Bristol, U.K.-based leader in invoice financing. This acquisition represents a significant milestone in eCapital’s expansion roadmap and reinforces its leadership in the U.K....
Read Story
November 04, 2024, 07:19 AM
|
Citizens M&A Advisory served as the exclusive financial advisor to Hi-Tek Data Holdings LLC., a premier managed service provider, on its recapitalization by Sea Pine Equity Partners, a lower middle-market private equity firm focused on the service...
Read Story
November 04, 2024, 07:00 AM
|
Runway Growth Capital, a leading provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, and BC Partners Credit, the $8 billion credit arm of BC Partners, an approximately $40 billion AUM...
Read Story
November 01, 2024, 08:15 AM
|
Monroe Capital has been selected by Inc. Magazine’s 2024 List of Founder-Friendly Investors. The list honors Lenders, Venture Capital and Private Equity firms with a track record of backing founder-led companies and helping them achieve success. As a...
Read Story
November 01, 2024, 07:20 AM
|
Blackstone announced the final close of the first series of its evergreen institutional U.S. direct lending fund, Blackstone Senior Direct Lending Fund (“BXD”). Blackstone has closed on approximately $22 billion of investable capital for the...
Read Story
October 30, 2024, 08:12 AM
|
Laurentian Bank announced its LBC Capital and Northpoint Commercial Finance subsidiaries are uniting under one brand, Northpoint Commercial Finance, as of November 1, 2024. The merging of these two brands is a natural and anticipated evolution of...
Read Story
October 30, 2024, 08:00 AM
|
Solifi, a global fintech software partner for secured finance, announced that Allied Credit Group, an Australian-based automotive and equipment finance organization, will implement the company’s Open Finance Platform SaaS solutions in support of its...
Read Story
October 30, 2024, 07:48 AM
|
Hilco Global and TPG Angelo Gordon announced the formation of a new joint venture that will identify, acquire, and finance consumer brands and IP in partnership with Bluestar Alliance, LLC. In connection with the launch, the JV has completed a series...
Read Story
October 29, 2024, 08:20 AM
|
5C Investment Partners (“5C”), an alternative investment firm focused on private credit, announced the commencement of investing activity as part of their senior direct lending platform. 5C will begin investing with $1.6 billion of available capital...
Read Story
October 29, 2024, 08:10 AM
|
Nuveen Churchill Private Capital Income Fund (“PCAP”) and Nuveen Churchill Private Credit Fund (“NCPCF”) have entered into a purchase and sale agreement pursuant to which NCPCF will sell to PCAP substantially all of its assets, PCAP will assume...
Read Story
October 29, 2024, 08:00 AM
|
Linedata is launching a suite of new capabilities for Linedata Capitalstream, its lending and leasing software solution for credit origination and risk management, that revolutionize the future of financial services. With these new features, Linedata...
Read Story
October 29, 2024, 07:00 AM
|
B&D Capital Partners announced the successful placement of an $89.5 million debt financing led by Huntington Bank and up to $200 million of capital commitments in a special purpose financing vehicle led by Stonehenge Structured Finance Partners and...
Read Story
October 28, 2024, 07:10 AM
|
Proskauer revealed the results of its Q3 2024 Private Credit Default Index (“Default Index” or the “Index”), with an overall default rate of 1.95%. The Q3 default rate is a decrease from 2.71% in the prior quarter. However, the overall default rate...
Read Story
October 25, 2024, 08:11 AM
|
Morgan Stanley Investment Management has closed North Haven Tactical Value II Fund LP (“NHTV II” or the “Fund”) and affiliated funds at approximately $2 billion of committed capital, representing a nearly 50 percent increase over the predecessor fund...
Read Story
October 25, 2024, 07:58 AM
|
EverBank has significantly expanded and strengthened its equipment finance capabilities by launching a new Corporate Asset Finance division. To lead the new business, the bank has appointed industry veteran Maureen Carr as Managing Director.The new...
Read Story
October 24, 2024, 08:14 AM
|
WhiteHawk Capital Partners, an asset based direct lending investment manager, announced the final closing of WhiteHawk Fund IV ("WH IV" or the "Fund"). With total equity commitments of over $1.1 billion, which includes WH IV and related vehicles. The...
Read Story
October 23, 2024, 08:02 AM
|
Blue Owl Capital announced the five-year anniversary of its investment in Wingspire Capital, a premier asset-backed direct lender that operates two business units, Wingspire Equipment Finance and Wingspire Corporate Finance.Blue Owl Capital...
Read Story
October 23, 2024, 08:00 AM
|
The Seismic Group, a leader in value creation by identifying and eliminating operational inefficiencies, announces the launch of Seismic Capital Solutions. The new company will offer a full spectrum of equipment and commercial financing solutions...
Read Story
October 23, 2024, 07:31 AM
|
Monroe Capital has entered into a definitive partnership agreement with Wendel Group relating to Wendel’s strategic investment in Monroe. At closing, Wendel will commit $1 billion for seed capital and GP commitments for current and future Monroe...
Read Story
October 22, 2024, 08:15 AM
|
Altriarch Asset Management, a private credit firm, announced a $70 million commitment from the State of Wisconsin Investment Board (“SWIB”). The investment allocates $20 million for Altriarch’s Specialty Finance Strategy launched in August 2023, that...
Read Story
October 22, 2024, 08:00 AM
|
Inc. announced its third annual Power Partner Awards. The prestigious list honors B2B organizations across the country that have proven track records supporting entrepreneurs and helping startups grow. This year’s list recognizes eCapital among 359...
Read Story
October 22, 2024, 07:00 AM
|
Turning Rock Partners, a private investment firm based in New York, announced the realization of its $45 million investment in MedShift (the "Company"). The Company is a founder owned and led medical technology software provider based in Charlotte...
Read Story
October 21, 2024, 06:05 AM
|
JPalmer Collective (JPC), an asset-based lending company committed to funding high-growth, women-led and natural products companies, announced a series of transactions raising $72 million in gross proceeds. The raise will accelerate JPC's growth...
Read Story
October 18, 2024, 08:12 AM
|
Global consulting firm J.S. Held, proudly celebrating 50 transformative years, acquired Stapleton Group and announces the creation of the Strategic Advisory practice under the leadership of Michael Jacoby, CTP. The Stapleton Group acquisition further...
Read Story
October 10, 2024, 08:12 AM
|
Amerisource Business Capital proudly commemorates four decades of excellence and client-centric service as it celebrates its 40th milestone anniversary.Since its inception in 1984, Amerisource has consistently set the standard for integrity...
Read Story
October 09, 2024, 08:15 AM
|
Solifi, a global fintech software partner for secured finance, announced that it will receive a majority investment from TA Associates ("TA"), a leading global private equity firm. This transaction will accelerate Solifi’s growth by supporting...
Read Story
October 09, 2024, 08:10 AM
|
Tiger Finance’s lending platform committed $125 million of capital in the third quarter to support clients’ strategic growth initiatives across various business sectors. Significant deals in Q3, which ended September 30, included providing capital...
Read Story
October 03, 2024, 08:12 AM
|
Portage Point Partners, a business advisory, interim management and investment banking firm serving middle market stakeholders, announced a strategic minority growth investment from New Mountain Capital, a growth-oriented investment firm with over...
Read Story
October 03, 2024, 08:10 AM
|
Janus Henderson Group, a leading global active asset manager, announced that it has entered into a definitive agreement to acquire a majority stake in Victory Park Capital Advisors, LLC (“VPC”), a global private credit manager with a nearly two...
Read Story
October 03, 2024, 07:54 AM
|
Ansley Park Capital announced a major milestone in its first full quarter of operation. The company successfully funded $200 million across a wide range of industries, bringing its total originations to more than $250 million since its inception. The...
Read Story
October 03, 2024, 07:19 AM
|
Rosenthal & Rosenthal completed a deal to acquire the assets of Accord Equipment Finance, the equipment leasing division of Accord Financial Corp., the Toronto-based commercial finance company. As part of the deal, Rosenthal will acquire Accord’s U.S...
Read Story
October 02, 2024, 08:16 AM
|
Mizuho Financial Group and Golub Capital announced a strategic partnership. As part of the agreement, Mizuho has purchased a passive, non-voting minority stake in Golub Capital’s management companies, and Mizuho will serve as a strategic distribution...
Read Story
October 01, 2024, 08:11 AM
|
Structured Finance (SF) asset performance continues to be weaker in 2024 relative to 2023 with a slowdown in economic and labor market growth, Fitch Ratings says. Nevertheless, Fitch expects arrears and defaults to remain low in absolute terms for...
Read Story
October 01, 2024, 07:30 AM
|
Citigroup and Apollo entered into an exclusive agreement for a subsidiary of Citi and certain affiliates of Apollo to form a landmark $25 billion private credit, direct lending program initially in North America, with the potential to expand to...
Read Story
September 27, 2024, 08:15 AM
|
The White House selected Monroe Capital to develop a first-of-its-kind investment strategy focused on supporting businesses operating in the U.S. automotive supply chain. Along with the advisory support of MEMA, The Vehicle Suppliers Association...
Read Story
September 23, 2024, 08:18 AM
|
Silver Point Capital, a global credit investing firm, announced the successful final close of its latest opportunistic credit fund at $4.6 billion in total commitments, exceeding the $4.0 billion target and more than double the size of its 2019...
Read Story
September 23, 2024, 08:00 AM
|
KBRA released updated research that examines the resilience of its ratings for fund finance structures and rated notes employed by middle market corporate lending funds.The private credit market, in particular the direct lending and infrastructure...
Read Story
September 23, 2024, 07:50 AM
|
CapitalPlus Supply, a leading material provider for the construction industry, is pleased to announce it has provided $3 million in materials to a prominent Louisiana-based marine contractor.The contractor was awarded a substantial project that...
Read Story
September 23, 2024, 06:00 AM
|
Viola Credit, a global asset manager focused on providing asset-based lending solutions to the innovation economy, announced a strategic joint venture with Cadma Capital Partners ("Cadma"), an affiliate of Apollo Global Management ("Apollo") that...
Read Story
September 19, 2024, 08:15 AM
|
AllianceBernstein announced the launch of the AB CarVal Credit Opportunities Fund (ABAYX), an unlisted, closed-end interval fund.The Credit Opportunities Fund seeks to outperform high-yield bonds over time with less volatility and lower correlation...
Read Story
September 19, 2024, 08:07 AM
|
Octaura Holdings announced the launch of Market Lists, a new protocol powered by data and analytics that streamlines the collateralized loan obligation (CLO) liquidation process for more efficiency throughout the trading lifecycle. Market Lists...
Read Story
September 18, 2024, 07:34 AM
|
Great Rock Capital announced that during the third quarter, it has expanded the borrowing capacity for three existing portfolio companies. The new capital, totaling over $40 million, was provided through senior secured term loans, two of which were...
Read Story
September 18, 2024, 07:28 AM
|
Brookfield Asset Management and Castlelake announced the closing of a $1.5 billion strategic partnership in which Brookfield has acquired a 51% stake in Castlelake's fee-related earnings and Brookfield Wealth Solutions has committed to invest into...
Read Story
September 18, 2024, 07:00 AM
|
Three Keys Capital Advisors announced a new agreement with Mitsubishi HC Capital America to source and advise on commercial finance transactions, as well as those in sustainable development and capital raising. Together, Three Keys and Mitsubishi HC...
Read Story
September 17, 2024, 08:12 AM
|
Sound Point Capital Management, a leading global alternative credit manager with more than $45 billion in assets under management, announced the final closing of Sound Point U.S. Direct Lending Fund III (“USDL III” or the “Fund”), its largest direct...
Read Story
September 13, 2024, 08:00 AM
|
Womble Bond Dickinson (US) and Lewis Roca announced that the two large, multi-practice law firms have approved a combination, creating a powerhouse firm of more than 1,300 attorneys in 37 offices in the United States and the United Kingdom. The...
Read Story
September 12, 2024, 07:31 AM
|
Versana announced the closing of a $26 million capital raise with the addition of Barclays as an investor in its centralized, real-time digital data platform. Existing investors Bank of America, Citi, Deutsche Bank, J.P. Morgan, Morgan Stanley and...
Read Story
September 12, 2024, 07:04 AM
|
B. Riley Financial announced proposed strategic and financing initiatives intended to enhance shareholder value by accelerating debt repayment.The Company reported it has:
Entered into a non-binding commitment for a debt financing of the B. Riley...
Read Story
September 11, 2024, 08:03 AM
|
Comvest Credit Partners announced the recent closing of its debut Collateralized Loan Obligation (CLO), Comvest 2024-1 CLO (“Comvest CLO”), at $500 million.“We are excited to leverage Comvest’s resources and capabilities to further expand our credit...
Read Story
September 11, 2024, 08:00 AM
|
Troutman Pepper and Locke Lord have agreed to merge effective January 1, 2025. The new law firm, which will be named Troutman Pepper Locke, will have more than 1,600 attorneys in 33 offices in the United States and two in Europe, with a meaningful...
Read Story
September 10, 2024, 07:52 AM
|
Solifi, a global fintech software partner for secured finance firms, was listed among the top fourteen Fast Track FinTech winners, as well as an IDC Fintech Top 100 company. The 21st annual vendor ranking recognizes the world’s leading hardware...
Read Story
September 10, 2024, 07:51 AM
|
EisnerAmper announced that the partners and colleagues of Elgin, IL-based, CPA firm Tighe, Kress & Orr, P.C. (“TKO”) are joining EisnerAmper in a combination expected to close in October 2024.Founded in 2007, and with offices in Chicago and Elgin...
Read Story
September 06, 2024, 07:30 AM
|
Bain Capital Credit announced that the firm’s Private Credit Group invested $1.8 billion to support the growth of middle market and private equity-backed companies during the first half of 2024. Bain Capital Credit’s Private Credit Group made 43...
Read Story
September 05, 2024, 07:57 AM
|
Harney Capital, a newly formed national boutique investment banking firm, announced its launch to provide comprehensive capital and M&A solutions designed for private and closely held middle market companies. Harney Capital is a collaboration...
Read Story
September 04, 2024, 07:52 AM
|
Cync Software announced the launch of Cync Syndicated Lending – a cloud-native solution designed to automate servicing of both syndicated and participation loans. The highly automated solution enables lead arrangers and agents to reduce time spent on...
Read Story
August 30, 2024, 07:02 AM
|
CohnReznick is relocating its Dallas, Texas office operations to The Star in Frisco, Texas. The move provides greater amenities to the growing team of approximately 75 employees currently working from the firm’s office on Dallas Parkway in Dallas.The...
Read Story
August 30, 2024, 07:00 AM
|
Deerpath Capital Management, a $8B AUM private credit manager focused on lending to the U.S. lower-middle market, announced a reset and upsize of Deerpath CLO 2018-1, a $402.8 million collateralized loan obligation (CLO).The CLO was originally sized...
Read Story
August 28, 2024, 07:10 AM
|
The TCW Group, a leading global asset management company, closed its second $400 million Collateralized Loan Obligation (CLO) fund this year, TCW CLO 2024-2, Ltd., which is secured primarily by broadly syndicated first-lien loans. This close adds to...
Read Story
August 26, 2024, 07:00 AM
|
Piper Sandler Companies completed the acquisition of Aviditi Advisors. Aviditi Advisors is a premier alternative investment bank providing full lifecycle services to financial sponsors, global alternative investment managers and limited partner...
Read Story
August 26, 2024, 06:00 AM
|
Obra Capital, an asset management firm with a specialized approach to alternative investing, secured new funded and unfunded credit facilities. Proceeds from the new facilities were used to retire Obra’s existing publicly-syndicated debt and provide...
Read Story
August 23, 2024, 07:00 AM
|
Maranon Capital announced the closing of Maranon Loan Funding 2024-1, Ltd., a $500 million collateralized loan obligation (“CLO”). This represents the twelfth CLO issued by Maranon totaling $5.2 billion in aggregate.Maranon Loan Funding 2024-1, Ltd....
Read Story
August 22, 2024, 07:34 AM
|
Solifi recently partnered with LimePoint, a technology specialist in real-time data processing and data streaming consumers, to broaden accessibility to Solifi’s data streaming microservice solution.Solifi Data Streaming allows customers access to a...
Read Story
August 21, 2024, 07:48 AM
|
EisnerAmper announced that the partners and colleagues of Los Angeles-area CPA firm KROST CPAs are joining EisnerAmper in a combination expected to close in September 2024.Founded in 1939, KROST has eight partners and a staff of more than 100...
Read Story
August 21, 2024, 07:40 AM
|
Rosin Capital Group launched a new debt capital advisory firm, founded and led by industry veteran John Rosin.With over 30 years of experience in direct lending, Rosin brings a deep understanding of the debt capital landscape. Most recently, he...
Read Story
August 20, 2024, 08:00 AM
|
Moritt Hock & Hamroff announced the launch of its newly redesigned website. The site boasts a clean, modern appearance with advanced technology and improved navigation that provides the firm's existing and prospective clients with a more intuitive...
Read Story
August 20, 2024, 07:23 AM
|
Cortland Credit Group announced the successful repayment of its credit facility extended to Insulation Technology Group (ITG), a portfolio company of PHI Industrial. Executed in June 2024, this repayment was almost precisely three years after the...
Read Story
August 19, 2024, 07:07 AM
|
TaxNow, an innovative tax underwriting and monitoring platform, announced its new strategic partnership with XEN, a renowned multi-platform loan management software provider for lenders. This collaboration aims to improve the financial management...
Read Story
August 19, 2024, 07:00 AM
|
Janus Henderson Group, a leading global active asset manager, has entered into a definitive agreement to acquire a majority stake in Victory Park Capital Advisors, LLC (“VPC”), a global private credit manager with a nearly two decade-long track...
Read Story
August 13, 2024, 08:00 AM
|
Inc. revealed that eCapital Corp ranks number 1968 on the 2024 Inc. 5000, its annual list of the fastest-growing private companies in America. The prestigious ranking provides a data-driven look at the most successful companies within the economy’s...
Read Story
August 13, 2024, 06:00 AM
|
Moritt Hock & Hamroff announced that Gary S. Rosner, a Partner and member of the firm’s Alternative Dispute Resolution and Litigation Practice Groups has been appointed to the Florida Supreme Court's Mediator Ethics Advisory Committee (MEAC) by Chief...
Read Story
August 12, 2024, 05:10 PM
|
Houlihan Lokey agreed to acquire Waller Helms Advisors (Waller Helms), an independent advisory firm that provides investment banking services to clients in the insurance and wealth management sectors. The transaction, signed on August 6, 2024...
Read Story
August 09, 2024, 08:04 AM
|
Gordon Brothers has launched a Real Estate Services practice in Europe, the Middle East and Africa. Ben Lovell, Senior Director, Real Estate, EMEA has joined Gordon Brothers to lead the growth of the Real Estate Services practice in the region....
Read Story
August 08, 2024, 07:59 AM
|
Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, announced the final close of its Stonepeak Opportunities Fund (the “Fund”). Following strong investor demand, the Fund was meaningfully oversubscribed...
Read Story
August 07, 2024, 07:50 AM
|
TPG Twin Brook closed $3.9 billion for its fifth direct lending fund.Jon Winkelried, CEO of TPG said, “During the quarter, we held a final close for Twin Brook’s fifth drawdown fund. In total, we raised $3.9 billion, which exceeded our original fund...
Read Story
August 07, 2024, 07:09 AM
|
CohnReznick announced that its Digital Advisory practice has formed an alliance with Tipalti, a global finance automation company helping organizations drive efficiency through the automation and scalability of payables operations. By leveraging the...
Read Story
August 07, 2024, 07:04 AM
|
Ares Management Corporation announced that funds managed by its Credit Group closed approximately $12.8 billion in U.S. direct lending commitments across 93 transactions during the second quarter of 2024 and approximately $38.3 billion in direct...
Read Story
August 02, 2024, 08:00 AM
|
In KBRA’s Q2 middle market (MM) surveillance compendium, KBRA examined how revenue and EBITDA growth have cushioned the blow of higher interest costs among private credit borrowers. The analysis is especially interesting due to the dearth of observed...
Read Story
August 02, 2024, 07:57 AM
|
LibreMax Capital entered into a partnership with iCapital to offer wealth managers and advisors globally access to LibreMax’s investment strategy via iCapital Marketplace.Founded in 2010 by Chief Investment Officer Greg Lippmann, LibreMax is a $10.5...
Read Story
August 01, 2024, 07:18 AM
|
Ares Management Corporation announced the final closing of Ares Senior Direct Lending Fund III (“SDL III” or the “Fund”). With total equity commitments of approximately $15.3 billion, SDL III was oversubscribed relative to its initial target of $10.0...
Read Story
|
REV Capital launched a new market strategy focused on providing leading commercial finance solutions across North America, signaling a pivotal advancement for the company. As part of the strategy, REV Capital also announces the transition of their...
Read Story
|
Moritt Hock & Hamroff announced that Michael Cardello III, the firm’s Managing Partner, has been elected to serve as Chair of the Commercial & Federal Litigation Section of the New York State Bar Association (NYSBA). This Section seeks to improve...
Read Story
|
Monroe Capital closed a $561.8 million term debt securitization known as Monroe Capital MML CLO XVI, LTD. The term financing was Monroe's fourth CLO completed since 2022 and is secured by a portfolio of middle market senior secured loans.Monroe sold...
Read Story
|
U.S. small business lenders increased requirements to qualify for financing in the first half of 2024, but are cautiously optimistic the market will improve, according to the Q1 2024 SMB Lending Index released by Lendio.Lendio's SMB lending index...
Read Story
|
SSG Capital Advisors (“SSG”) served as the investment banker to George L. Miller, the Chapter 7 Trustee of Gelesis Holdings Inc. and certain affiliates, in the sale of substantially all assets to an affiliate of Theras Group S.r.l., T-Investments S.r...
Read Story
|
Deerpath Capital Management announced the reset and upsize of Deerpath CLO 2021-1, a $402.9 million collateralized loan obligation (CLO).The CLO was originally sized at $362.9 million and priced in March 2021. This upsize and repricing represents the...
Read Story
|
Alvarez & Marsal Tax, an affiliate of leading global professional services firm Alvarez & Marsal (A&M), announced the launch of its new License Advisory Services (LAS) offering. Spearheaded by LAS National Practice Leader and Managing Director Ashley...
Read Story
|
Trinity Capital launched a new vehicle in partnership with Eagle Point Credit Management LLC. Trinity's wholly owned registered investment adviser will be an adviser to the new vehicle, thereby bolstering the Company's sources of capital for lending...
Read Story
|
Solifi, a global fintech software partner for secured finance, announced that Canadian Kawasaki Motors Finance Corporation (CKMFC) has successfully migrated its Canadian operations to Solifi Wholesale Finance, expanding its usage across North America...
Read Story
|
Moritt Hock & Hamroff announced that Leslie Berkoff and Theresa Driscoll, Partners of the firm, have been recognized by Lawdragon as 500 Leading U.S. Bankruptcy & Restructuring Lawyers for 2024. The annual Lawdragon 500 Leading Lawyers in America is...
Read Story
|
Trinity Capital announced certain highlights for the first half and second quarter of 2024. Trinity funded a record $474 million of investments in the first half of 2024 and originated $289 million of total new commitments in the second quarter...
Read Story
|
Lloyds Bank and Oaktree Capital Management announced a strategic partnership (the “Partnership”) to support UK middle-market sponsor-backed borrowers. Lloyds Bank Structured Debt Finance team will partner with Oaktree’s European Private Debt platform...
Read Story
|
Alvarez & Marsal (A&M) has expanded its capabilities by acquiring London-headquartered executive search firm Wilkinson Partners. Tom Wilkinson, founder and CEO of Wilkinson Partners, will assume the role of Managing Director and lead the newly formed...
Read Story
|
Blue Owl Capital entered into a definitive agreement to acquire the business of alternative credit manager Atalaya Capital Management LP for $450 million. The acquisition is expected to close in the second half of 2024, subject to customary closing...
Read Story
|
Tiger Group’s Advisory Services division has facilitated the sale of athleisure lifestyle brand Outdoor Voices to consumer-focused investment manager Consortium Brand Partners. After encountering financial distress, Outdoor Ventures engaged Tiger for...
Read Story
|
Middle market private companies in the Golub Capital Altman Index grew earnings by 11% during the first two months of the second quarter of 2024. Revenue grew 7% during the same period.Lawrence E. Golub, CEO of Golub Capital, said, “Q2 2024...
Read Story
|
Star Mountain Capital announced that Charles Millard has joined as Senior Advisor.Millard has 30+ years of economic policy, investment advisory and wealth management experience and is a prominent speaker and writer within the pension and retirement...
Read Story
|
Solifi, a global fintech software partner for secured finance, announced it was shortlisted in three categories at the Asset Finance Connect (AFC) Summer awards, which will take place at the Honorable Artillery Company on Tuesday 9th July and will...
Read Story
|
Asset Compliant Solutions, a leading collections, recovery and portfolio optimization firm will be hosting a webinar event on Tuesday, July 13 at 3pm EDT titled Prospering in a Changing Landscape. The webinar will feature leaders from asset-based...
Read Story
|
Beth Rahn, former Head of Family Capital at McNally Capital,announced the launch of her fundraising advisory firm, New Era Advisors (“New Era”). New Era will provide fundraising advisory and fund placement services to female and diverse investment...
Read Story
|
Horizon Technology Finance Corporation, an affiliate of Monroe Capital, announced that Horizon Funding II, LLC, Horizon’s wholly-owned subsidiary (“HFII”), has closed a $100 million senior secured credit facility led by a large U.S. based insurance...
Read Story
|
Cresset Partners announced that its flagship private credit portfolio, Cresset Partners Private Credit Fund, LLC (CPCF), has surpassed $500 million in assets under management—a significant milestone. CPCF began investing in April of 2023 and is...
Read Story
|
Castlelake, a global alternative investment manager specializing in asset-based private credit investments, has reached an agreement to purchase up to $1.2 billion of consumer installment loans from Upstart, an artificial intelligence (AI) lending...
Read Story
|
Peach Finance, a leading modern servicing technology platform, announced its partnership with Pipe, helping the modern capital platform power its working capital solutions.Pipe, which has raised more than $300M in venture funding, provides small and...
Read Story
|
Arcadia Finance, a new litigation funding firm focused on commercial litigation and arbitration, announced its official launch to offer customized financial solutions and unparalleled support to empower clients and partners in achieving their legal...
Read Story
|
According to a Bloomberg report, Antares Capital is looking to raise as much as $6 billion for its third senior loan fund.According to the Bloomberg report, the direct lender’s third fund has a target of $5 billion to $6 billion, though that figure...
Read Story
|
Solifi, a global fintech software partner for secured finance, is celebrating its 50th anniversary after enjoying substantial growth in 2023.Founded in Minnesota as Decision Systems in 1974, the business initially specialized in solutions for...
Read Story
|
SSG Capital Advisors served as the investment banker to Contract Pharmaceuticals Limited Canada and its affiliates (“CPL” or the “Company”) in its restructuring and sale to Aterian Investment Partners via a Reverse Vesting Order (“RVO”). The sale was...
Read Story
|
Goetz Fitzpatrick and Platzer, Swergold, Goldberg, Katz, and Jaslow announced their upcoming merger to become Goetz Platzer LLP. The synergetic merger will double the size of both firms and propel growth in their core practice areas of construction...
Read Story
|
SG Credit Partners announced the launch of SG Commercial Finance (“SG CF”) and the hiring of career ABL executives John Nooney and Mark Pickering to lead the group. SG Commercial Finance is a new vertical under the SG umbrella formed to originate...
Read Story
|
Figure Technology Solutions, a technology platform streamlining the private credit and housing markets, announced the launch of Figure Connect, a first-of-its-kind blockchain-based multi-seller, multi-buyer marketplace of private credit loans.Figure...
Read Story
|
Tax Guard, a Cogency Global Company and the first provider of real-time IRS tax data services, has entered a partnership with San Diego-based Ventures Lending Technologies, a premier end-to-end lending software for banks and mission-based...
Read Story
|
Ares Commercial Finance (“ACF”) announced it is marking 10 years as the commercial finance platform of Ares Management. The evolution of the platform began with the acquisition of Keltic Financial Services, LLC in 2014 and was further augmented with...
Read Story
|
Piper Sandler Companies entered into a definitive agreement to acquire Aviditi Advisors.Aviditi Advisors is a premier alternative investment bank providing full lifecycle services to financial sponsors, global alternative investment managers and...
Read Story
|
StepStone Private Wealth announced the launch of the StepStone Private Credit Income Fund (“CRDEX”), an evergreen interval fund that can be purchased daily via ticker CRDEX.CRDEX offers individual investors and institutions exposure to a highly...
Read Story
|
Principal Asset Management launched the Principal Private Credit Fund I, offering exposure to lower and core middle market loans, with immediate access to these direct lending investments. The fund will target 90% plus exposure to private credit and...
Read Story
|
Nassau Financial Group (“Nassau”), a provider of fixed annuities and asset management, and Golub Capital, a direct lender and experienced credit asset manager, have signed a definitive agreement to enter into a strategic partnership. As part of this...
Read Story
|
Great Rock Capital announced the recent upsize of its investment-grade corporate note financing. The new notes were assigned a BBB rating by a nationally recognized statistical ratings organization, where Brean Capital served as the exclusive...
Read Story
|
Grant Thornton and New Mountain Capital announced the closing of a significant growth investment in Grant Thornton that will accelerate the firm’s business strategy. CDPQ and OA Private Capital made minority investments in Grant Thornton alongside...
Read Story
|
Nearly three quarters of Americans (72%) lack the financial confidence needed to manage a large influx of money on their own, according to a new survey by Citizens. As Baby Boomers, the most financially prosperous generation in history, are set to...
Read Story
|
Trinity Capital announced its strategic expansion into Europe with the appointment of London-based Craig Fox as Managing Director. This initiative aligns with the Company's long-term vision of supporting high-growth companies globally.By establishing...
Read Story
|
Capital Group and KKR announced an exclusive, strategic partnership to bring new ways for investors to incorporate alternative investments into their portfolios. Capital Group and KKR intend to make hybrid public-private markets investment solutions...
Read Story
|
Alvarez & Marsal announced the formation of its Alvarez & Marsal Legal Services (AMLS) business, which will provide management and consulting services to law firms worldwide. AMLS gives access to world-class technology and outsourcing services to...
Read Story
|
Churchill Asset Management and Dawson Partners announced the closing of a $425 million transaction.The transaction, solely financed by Dawson vehicles, served as an alternative solution to a traditional secondary sale, delivering liquidity to...
Read Story
|
Second Wind Consultants, America’s most respected name in corporate turnaround, announced its formal merger with Polaris Business Advisors.Through the merger, Polaris Business Advisors will become Rise Alliance – offering new capabilities and...
Read Story
|
Pathward announced the expansion and transformation of its suite of offerings for financial institutions. Formerly known for providing prepaid cards to banks and credit unions, Pathward’s new Solutions for Financial Institutions includes expanded...
Read Story
|
Solifi announced the launch of ESG Portfolio Strategist, as the latest innovative application in its product suite. Enabling automotive finance businesses to operationalise ESG strategy within their existing leasing workflow, ESG Portfolio Strategist...
Read Story
|
Raymond James is expanding the capabilities of its Investment Banking division by partnering with Eldridge Industries and Raymond James Bank to provide private credit solutions to sponsor-backed portfolio companies in four primary sectors: Consumer...
Read Story
|
Nabil Istafanous announced the launch of Foothills Capital Advisory, a practice dedicated to helping businesses secure the necessary working and growth capital to succeed in today's challenging credit environment.During times of higher interest rates...
Read Story
|
Benefit Street Partners announced the final close of BSP Special Situations Fund II and its affiliated vehicles (“Fund II”) which were oversubscribed with approximately $850 million in capital commitments. Fund II will seek to continue the investment...
Read Story
|
nFusion Capital’s Senior Account Executive Melanie Guzman has been named a recipient of the Secured Finance Network’s (SFNet) 40 Under 40 Award in the Portfolio/Risk Management category. This award celebrates the achievements of leading young...
Read Story
|
All assets from the fully furnished, 40,000-square-foot Raynham plant of Medrobotics—maker of groundbreaking robotic surgical platforms used by nearly 30 hospitals globally—are available in a turnkey sale by Tiger Group and Liquidity Services. “This...
Read Story
|
Trinity Capital announced the expansion of its business with the addition of a new Sponsor Finance vertical. This strategic expansion naturally extends the Company's established expertise in providing direct lending solutions to sponsor-backed...
Read Story
|
FGI Worldwide and Validis, an open accounting API, have partnered to integrate their respective credit management and data extraction platforms. This strategic partnership will allow businesses sharing their Accounts Receivables (A/R) data with...
Read Story
|
EisnerAmper announced that the partners and colleagues of Boston, Massachusetts-based CPA firm Edelstein & Company, LLP, are joining EisnerAmper in a combination expected to close in June 2024.Founded in 1968, Edelstein has 11 partners and a staff of...
Read Story
|
Solifi announced that Kasey Hobson has been recognized for her achievements in the secured finance industry in the SFNet 40 Under 40 Awards.“Featuring on the list of winners for the SFNet 40 Under 40 award is a great honor,” says Hobson. “I am...
Read Story
|
KKR released “No Turning Back,” a new Insights piece by Henry McVey, CIO of KKR’s Balance Sheet and Head of Global Macro and Asset Allocation (GMAA).Based on a proprietary survey of nearly 50 Chief Investment Officers (CIOs) who collectively oversee...
Read Story
|
The Federal Trade Commission issued a final rule to promote competition by banning noncompetes nationwide, protecting the fundamental freedom of workers to change jobs, increasing innovation, and fostering new business formation.“Noncompete clauses...
Read Story
|
U.S. corporate finance leaders have increased focus on cutting costs to prepare their firms for potential economic and geopolitical uncertainty, according to the fourth annual U.S. Bank CFO Insights Report.The survey of more than 2,000 senior finance...
Read Story
|
Hercules Capital is celebrating its 20th year of originations activity by reaching the $20.0 billion milestone in total debt commitments.Founded in December 2003, and originating its first deal in 2004, the Company’s mission was simple: Provide...
Read Story
|
The Federal Trade Commission sued to block Tapestry, Inc.’s $8.5 billion acquisition of Capri Holdings Limited, a deal that seeks to combine three close competitors – Tapestry’s Coach and Kate Spade brands and Capri’s Michael Kors brand. If allowed...
Read Story
|
Deerpath Capital Management closed Deerpath CLO 2024-1, a $452.61 million collateralized loan obligation (CLO). This marks Deerpath's first new issuance CLO in 2024. Including a CLO reset and upsize in July 2023 and CLO 2023-2, this transaction...
Read Story
|
Mitsubishi HC Capital Canada, a subsidiary of Mitsubishi HC Capital America, the largest non-bank, non-captive finance provider in North America, is launching a new division and introducing additional financing solutions customized for Canada’s...
Read Story
|
Advantage Business Capital / Far West Capital announced a clarification of corporate identities. Moving forward, all Austin, TX employees will operate under the Advantage Business Capital name. Operations in El Paso, TX, solely focused on the...
Read Story
|
Haversine Funding announced the rebranding of its thought-provoking and informative podcast. Originally launched as “OnDeck with Haversine” anticipating a limited run, the overwhelming viewer response has inspired its extension well into 2025. The...
Read Story
|
King Trade Capital, the oldest and largest independent purchase order and non-bank trade finance solutions provider in the U.S., announced 1st quarter revenue growth exceeding 30 percent. King Trade Capital's Founder Edward King said, “We are quite...
Read Story
|
Solifi announced the completion of the integration with Codat, a leading provider of enhanced-connectivity automated solutions. The out-of-the-box functionality enables asset-based lending (ABL) firms to make smarter, faster and actionable credit...
Read Story
|
A new survey from Grant Thornton revealed that chief financial officers (CFOs) are more optimistic about the U.S. economy than they’ve been in nearly three years. Grant Thornton’s Q1 2024 CFO survey, which polled 273 senior finance leaders...
Read Story
|
Aequum Capital generated a record $96MM of commitments in the first quarter of 2024 to small and medium sized commercial businesses. This record quarter is indicative of the growing confidence and trust Aequum's partners have shown in the firm's...
Read Story
|
CohnReznick established a new Digital advisory practice. Bringing together an expanded, integrated portfolio of solutions and technology partners, the practice helps businesses navigate technology- and data-related opportunities and leverage digital...
Read Story
|
Blue Torch Capital, a New York-based private credit investment firm, announced the closing of Blue Torch Credit Opportunities Fund III and its affiliated entities with total investor commitments of $2.3 billion, exceeding its $2.0 billion...
Read Story
|
XEN, a cloud-based loan management platform serving the commercial lending industry, announced the appointment of Zahid Jethani as its new Chief Technology Officer.Zahid brings a distinguished track record in software development, engineering, and...
Read Story
|
Middle market private companies in the Golub Capital Altman Index grew earnings by 11% during the first two months of the first quarter of 2024. Revenue grew 5% during the same period.Lawrence E. Golub, CEO of Golub Capital, said, “Growth in Q1 2024...
Read Story
|
Finley, a debt capital management platform for borrowers and asset managers, announced the launch of the Finley Verification Suite, a set of capabilities that enables lenders in asset-backed lending (ABL) arrangements to verify the accuracy of...
Read Story
|
Jefferies Financial Group and SMBC Group have expanded their global strategic alliance to enhance collaboration on future corporate and investment banking business opportunities within the Canadian market. SMBC Group comprises Sumitomo Mitsui...
Read Story
|
Durkin Group, a Gordon Brothers company, has expanded its field examination services with GB4 Group to serve a broader range of clients. GB4 Group provides comprehensive collateral field exam services for commercial banks and finance companies in the...
Read Story
|
Tiger Finance’s lending platform continued to grow in the first quarter ended March 31, providing $102 million in financing to retail and other borrowers across North America. “Women’s specialty apparel retailers, in particular, continue to be...
Read Story
|
PKF Clear Thinking, the award-winning business advisory firm and subsidiary of PKF O'Connor Davies, one of the nation's largest accounting, tax and advisory practices, has been awarded the "Section 363 Sale of the Year ($50MM to $100MM)" by the 18th...
Read Story
|
AGL Credit Management, an investment manager specializing solely on corporate credit strategies, and Barclays Plc announced an exclusive Cooperation Agreement and the launch of a new private credit investment platform, AGL Private Credit ("AGL...
Read Story
|
Flatbay Capital was founded in 2019 with the goal of supporting business owners with their commercial real estate financing needs. Based in Houston, Texas, they are a nationwide non-bank lender focusing on owner-occupied commercial real estate loans....
Read Story
|
Golub Capital announced that Shuji Hatsukaiwa has joined as Managing Director, Japan and will be based in the Firm’s newly-opened Tokyo office. In his new role, he will be focused on deepening relationships with investors across Japan.“Japan is a key...
Read Story
|
EisnerAmper announced that the partners and colleagues of Birmingham, Alabama-based tax, assurance and advisory, and real estate consulting firm Tidwell Group, LLC, are joining EisnerAmper in a transaction expected to close in May 2024.Founded in...
Read Story
|
Susan Carol Creative has rebranded to Foresight Marketing Agency, in a move that reflects the significant growth in capabilities at this longtime leader in public relations and marketing communications for B2B clients in commercial finance, equipment...
Read Story
|
Gordon Brothers completed the acquisition of substantially all the assets of Catch Co., a portfolio of fishing brands that has generated nearly $300 million in revenue since its inception in 2012 with the launch of Mystery Tackle Box. The acquisition...
Read Story
|
Mitsubishi HC Capital America continues to make significant strides in its digital transformation efforts with the recent integration of MuleSoft Robotic Process Automation (RPA).In a move to strengthen business development and customer retention...
Read Story
|
SSG Capital Advisors announced that Managing Director Teresa C. Kohl was presented with the M&A Advisor’s Leadership Award during the 18th Annual Turnaround Awards Gala in West Palm Beach, Florida on March 19. This prestigious award recognizes...
Read Story
|
Yieldstreet, a leading private market investing platform, and Wilshire Advisors LLC, a global advisor with more than $1 trillion in assets under advisement, announced a strategic partnership that intends to revolutionize investor access to...
Read Story
|
A deal team from Haynes and Boone advised BiomX Inc. in its merger with Adaptive Phage Therapeutics, Inc. (APT) and the concurrent $50 million private placement financing. The merger created an impactful phage therapy company with a robust pipeline...
Read Story
|
Grant Thornton and New Mountain Capital, a leading growth-oriented investment firm with approximately $50 billion in assets under management, announced a significant growth investment to accelerate Grant Thornton’s business strategy. Grant Thornton...
Read Story
|
In a recently posted Bloomberg Intelligence Credit Edge podcast, Bruce Richards, CEO and Chairman of Marathon Asset Management says asset-based lending is set to expand over the next 10 years at the same strong pace as private credit.
Listen to the...
Read Story
|
HarbourView Equity Partners (HarbourView) has secured approximately $500 million in debt financing through a private securitization backed by its diversified catalog of music royalties. Insurance vehicles and accounts managed by KKR, a leading global...
Read Story
|
Hilco Global announced a strategic expansion in its service offerings with the introduction of Hilco Pension Advisory (HPA). This pivotal development, which will expand the range of the service offerings already provided by the experts at Hilco...
Read Story
|
Gordon Brothers is offering for sale by private treaty SmileDirectClub’s former assets and inventory on behalf of the debtor-in-possession lender. Offers are due by April 1 for the clear aligner production lines, 3D printers and support assets from...
Read Story
|
Porter Capital Group announced a landmark achievement, having surpassed $10 billion in funding provided to businesses nationwide. With a broad client base spanning coast to coast, Porter Capital Group is recognized for its expertise in alternative...
Read Story
|
Hilco Streambank, a leading advisory firm specializing in intangible asset disposition, valuation, and a leading market player for digital assets and services, announced significant changes to its organizational structure and key executive...
Read Story
|
GoldenTree Asset Management, a global asset management firm with over $53 billion in assets under management, announced the closing of its Private Credit Fund.GoldenTree’s Private Credit Fund (the “Fund”) secured commitments of over $1.35 billion...
Read Story
|
Runway Growth Finance has established a joint venture (“JV”) with Cadma Capital Partners (“Cadma”), a credit financing platform for the venture and growth ecosystem that is an affiliate of Apollo Global Management. Cadma provides asset-backed...
Read Story
|
Nomura Holdings has realigned the firm’s collective asset and investment management capabilities in the Americas under the new brand Nomura Capital Management LLC (NCM). The new brand is a subsidiary of Nomura Holding America Inc. (NHA) and will...
Read Story
|
CFG Merchant Solutions, a technology-enabled specialty finance and alternative funding provider, announced the upsize to $30.0 million of its investment-grade corporate note. The transaction was assigned a BBB rating by a nationally recognized...
Read Story
|
Solifi announced the release of the 2024 Global Leasing Report. This coveted digital publication details the trends, economic projections and insights into the top 50 leasing markets worldwide. This is the 18th edition that Solifi has partnered with...
Read Story
|
Equifax is launching a real-time, Know Your Business (KYB) online Business Verification Solution offering to help U.S. lenders and businesses of all sizes make faster, more informed decisions before onboarding new accounts or vendors. New business...
Read Story
|
Carl Marks Advisors has been awarded Distressed Deal of the Year at the 15th Annual Americas M&A Atlas Awards, hosted by Global M&A Network, LLC. In addition, Carl Marks Securities won Metals Deal of the Year, while Director Michael Gordon was...
Read Story
February 28, 2024, 07:30 AM
|
Clarus Capital announced the expansion of its investment facility in collaboration with BharCap Partners. Steve O'Leary, CEO of Clarus Capital, highlighted the importance of this milestone, said, "Amid recent market volatility, Clarus continues to...
Read Story
February 26, 2024, 07:30 AM
|
FGI Worldwide (“FGI”) announced that GemCap, a Texas-based provider of revolvers, term loans and factoring facilities for small and medium-sized businesses across the United States and Canada, has chosen FGI T.R.U.S.T.™ as a risk mitigation solution...
Read Story
February 22, 2024, 07:25 AM
|
Fora Financial announced has surpassed $4 billion in capital provided to more than 55,000 small businesses since its inception in 2008. The company achieved this milestone on the heels of a record-setting 2023, in which it supplied the nation’s small...
Read Story
February 15, 2024, 07:50 AM
|
Haynes and Boone released its first-ever Fund Finance Annual Report, which revealed an industry cautiously optimistic about growth despite facing headwinds, including rising interest rates and market disruptions.Even after the turbulent market of...
Read Story
February 15, 2024, 07:46 AM
|
Värde Partners, a global alternative investment firm specializing in credit and credit-related assets, announced that it committed $1.3 billion across its asset-based lending and diversified private credit platform in 2023. These investments...
Read Story
February 14, 2024, 08:00 AM
|
A new survey from Grant Thornton revealed that chief financial officers (CFOs) have dramatically higher expectations compared to the most recent quarters. In fact, the majority of CFOs are confident in their ability to meet business goals related to...
Read Story
February 09, 2024, 07:40 AM
|
Boxwood Partners continued its growth trajectory in 2023 as the premier advisor for middle-market clients across the franchising, residential services, commercial and industrial services, health and wellness, and business services sectors. Taking 17...
Read Story
February 09, 2024, 07:01 AM
|
PineBridge Investments, a private, global asset manager focused on active, high-conviction investing, announced the final close of PineBridge Private Credit III ("Fund III") as of 30 January 2024, as part of the firm’s lower-middle-market direct...
Read Story
February 07, 2024, 07:58 AM
|
U.S. middle market (MM) issuance was flat in 2023, according to a new Fitch Ratings report. The report, which incorporates data from Fitch’s LevFin Insights, shows that issuance was $36.5 billion in 2023, compared to $36.7 billion in 2022, and down...
Read Story
February 05, 2024, 08:02 AM
|
Gordon Brothers has been engaged to sell by private treaty over $85 million of inventory and the assets of two 775,000-square-foot fulfillment centers on behalf of Zulily ABC LLC. The U.S.-based online retailer specialized in the sale of...
Read Story
January 31, 2024, 07:25 AM
|
Phoenix Merchant Partners, an independent investment firm focused on providing broad financing solutions to the middle-market universe of companies, announced the closing of its first transaction, an innovative financing to Gryphon Holdings (the...
Read Story
January 30, 2024, 07:38 AM
|
SoFi announced that SoFi Invest members will now be able to invest in select alternative investment funds, mutual funds, and money market funds. With the launch of alternative investments, SoFi is granting everyday investors access to the power to...
Read Story
January 29, 2024, 08:10 AM
|
Churchill Asset Management, an investment specialist of Nuveen, closed a $400 million middle market collateralized loan obligation ("CLO"), Churchill MMSLF CLO III, on January 24, 2024.The CLO was structured in connection with Churchill’s...
Read Story
January 29, 2024, 07:55 AM
|
National Funding is celebrating its 25th anniversary on January 27. It has provided over $4.5 billion in working capital and equipment leasing for SMBs nationwide.Ready to take on the traditional lending practices that made it difficult for small...
Read Story
January 29, 2024, 07:36 AM
|
The TCW Group announced the launch of a dedicated Asset-Backed Finance (“ABF”) business that will be anchored with over $1 billion in capital commitments from TCW, partners, and affiliates.TCW was an early entrant to private credit and the continued...
Read Story
January 26, 2024, 07:40 AM
|
The 2024 CFO Outlook Survey found that with continued economic uncertainty tied to interest rates, inflation, geopolitics, and the upcoming presidential election, many CFOs have moderate expectations for 2024 compared to the previous year: Now, 32...
Read Story
January 24, 2024, 07:06 AM
|
FTI Consulting announced the findings of its 2024 Leveraged Loan Market Survey, which offers insight into bank and non-bank lenders’ perspectives on the U.S. loan industry and highlights expectations for leveraged credit market conditions in the year...
Read Story
January 23, 2024, 07:57 AM
|
KCP Advisory Group, a restructuring and financial consulting organization that offers creative solutions nationally, announced its merger with Altman and Company. The merger of KCP Advisory Group and Altman and Company creates a national consulting...
Read Story
January 23, 2024, 07:55 AM
|
Principal Asset Management reached $2 billion in borrower commitments through its direct lending business. Its direct lending investment team, known as Principal Alternative Credit, closed on over 115 transactions as of December 31, 2023, and...
Read Story
January 23, 2024, 07:52 AM
|
Magnite, the world's largest independent sell-side advertising company, announced its intention to refinance its outstanding senior secured credit facilities.The Company intends to replace its existing credit facilities, consisting of a $360.0...
Read Story
January 22, 2024, 07:20 AM
|
Phoenix Management, a part of J.S. Held, released the results of their Q4 2023 “Lending Climate in America” survey, which asked lenders how the credit ratings in their portfolios have changed from Q3 to Q4. A high majority of lenders (83%) signified...
Read Story
January 19, 2024, 07:58 AM
|
Golub Capital BDC entered into a definitive merger agreement with Golub Capital BDC 3, Inc. (“GBDC 3”), with GBDC as the surviving company, subject to certain stockholder approvals and customary closing conditions. Following the merger, GBDC is...
Read Story
January 18, 2024, 07:27 AM
|
Cohn & Dussi announced four attorneys from the firm were named Top Lawyers by Boston magazine.Boston magazine’s Top Lawyers List recognizes lawyers throughout Greater Boston for excellence in the field as chosen by their peers.The following Cohn &...
Read Story
January 18, 2024, 07:14 AM
|
Golub Capital marked the start of its 30th anniversary year and reported key milestones achieved in 2023. The Firm raised a record $13.9 billion of new investment firepower and grew capital under management to over $65 billion, a new high. The Firm...
Read Story
January 17, 2024, 08:00 AM
|
Uncertainty has remained a central theme in financial markets over the past several years. Surging inflation, rapid interest rate increases, slowing global growth, increased geopolitical risks and elevated stock and bond market volatility have all...
Read Story
January 17, 2024, 07:35 AM
|
Trinity Capital announced certain highlights for the quarter and year ended December 31, 2023. Trinity originated $340.7 million of total new commitments in the fourth quarter, bringing total new commitments for the year ended December 31, 2023, to...
Read Story
January 09, 2024, 07:59 AM
|
HYPERAMS, a full-service asset monetization, valuation, and advisory firm, announced the following leadership changes.On January 1, 2024, HYPERAMS formed the new entity Hyper Valuation Services (HVS). All appraisal services will be conducted by this...
Read Story
January 05, 2024, 07:51 AM
|
Crown Capital Partners has entered into an agreement with Canadian Western Bank ("CWB") which amends the terms of the Corporation's credit facility with CWB as follows: (i) reducing the maximum amount of the Corporation's operating loan limit from...
Read Story
January 02, 2024, 07:58 AM
|
Richard J. Giusto and Alan T. Dimond, Shareholders in global law firm Greenberg Traurig, P.A.'s Miami office, have been named winners of Connect CRE's 2023 Lawyers in Real Estate Awards.The third-annual awards program recognizes attorneys who excel...
Read Story
December 29, 2023, 07:26 AM
|
ABL Advisor will be closed Monday, January 1st for the New Year’s holiday. We will return with our Daily eNewsletter on Tuesday, January 2nd.We wish all of our readers and advertisers a very safe holiday and a happy, heatlhy and prosperous 2024!
Read Story
December 29, 2023, 07:00 AM
|
Star Mountain Capital officially opened its Tampa, Florida office. “We found Tampa to be one of the best places to build businesses, livelihoods, and careers in America. With a diverse talent pool in Tampa at all career levels, it has enabled us to...
Read Story
December 28, 2023, 07:25 AM
|
Maranon Capital closed Maranon Loan Funding 2023-2, Ltd., a $400 million collateralized loan obligation (“CLO”). This represents the eleventh CLO issued by Maranon.Maranon Loan Funding 2023-2 will primarily invest in leveraged loans to middle market...
Read Story
December 27, 2023, 06:47 AM
|
Hilco Global, a prominent B2B financial services company is committed to giving back to communities where it does business by donating time, money and in-kind goods. “Hilco Helps Warm the Winter” initiative is designed to deliver assistance to local...
Read Story
December 22, 2023, 07:00 AM
|
ABL Advisor's offices will be closed on Monday, December 25th and Tuesday, December 26th in observance of the Christmas holiday. We will return with our Daily eNews on Wednesday, December 27th. We wish all of our readers, colleagues, contributors...
Read Story
December 22, 2023, 06:00 AM
|
Houlihan Lokey announced a major expansion of its Private Funds Group to establish the Group as one of the preeminent global private capital advisory platforms.The firm has agreed to acquire Triago Management Development (Triago), a global...
Read Story
December 21, 2023, 08:03 AM
|
Trinity Capital, a leading provider of diversified financial solutions to growth-stage companies, expanded its Phoenix headquarters, reaffirming Trinity's longstanding commitment to the region as it continues to scale its business.Trinity has doubled...
Read Story
December 21, 2023, 07:00 AM
|
Pathlight Capital announced the final closing of its third fund, Pathlight Capital Fund III LP as well as the initial Tranche of its Evergreen vertical, Pathlight Capital Evergreen Fund LP. The parallel Fund entities secured a combined $860.3 million...
Read Story
December 20, 2023, 08:03 AM
|
Hilco Global announced the resounding success of "A Night of Shining Stars," a celebration and premier networking event hosted in collaboration with the Turnaround Management Association (TMA) of Chicago to raise money for the All Stars Project of...
Read Story
December 20, 2023, 07:00 AM
|
EisnerAmper announced that the partners and colleagues of accounting, tax, and business consulting firm Hughes Pittman & Gupton, LLP (“HPG”), are joining EisnerAmper in a transaction expected to close in the spring of 2024. In a separate transaction...
Read Story
December 15, 2023, 07:07 AM
|
Percent released their market outlook for 2024. The report, titled Percent’s 2024 Private Credit Outlook, summarizes the key macroeconomic trends from 2023 that propelled the asset class forward, with insights on what investors can expect for the...
Read Story
December 14, 2023, 07:58 AM
|
Kennedy Lewis Investment Management, a leading alternative credit manager, announced that it has launched a partnership with iCapital, the global fintech platform driving access to alternative investments for the wealth management industry, which...
Read Story
December 14, 2023, 07:48 AM
|
BlackRock released its 2024 Private Markets Outlook, with investment views on how private markets – spanning different sectors, geographies, investment styles, and risk appetites – will evolve in the year ahead. Several mega forces including the...
Read Story
December 12, 2023, 07:21 AM
|
Capstone Partners released its 2023 Middle Market Business Owners Survey Report, with insights from privately-owned companies across the U.S. This report combines Capstone's in-depth middle market knowledge with proprietary data obtained from 435...
Read Story
December 11, 2023, 07:00 AM
|
A new survey on mergers and acquisitions (M&A) disputes from Grant Thornton revealed that dispute activity has increased — along with an increase in overall deal volume. The 2023 M&A Dispute Survey polled 150 active deal participants on both the...
Read Story
December 08, 2023, 08:00 AM
|
Carl Marks Advisors announced its receipt of the Professional Services Deal Of The Year award for the mid-market category at the 22nd Annual M&A Advisor Awards, hosted by The M&A Advisor. The prestigious award recognizes the firm's exceptional work...
Read Story
December 07, 2023, 07:35 AM
|
Vibrant Capital Partners, a leading alternative credit investment manager with approximately US$8 billion in assets under management, announced the opening of its office at Abu Dhabi Global Market (“ADGM”), the international financial centre of the...
Read Story
December 05, 2023, 05:00 AM
|
In the midst of great turmoil around the world, SB360 Capital Partners (SB360) and Second Avenue Capital Partners (SACP) have chosen to direct their annual gift-giving efforts toward supporting civilians displaced by the conflict in the Middle East....
Read Story
December 04, 2023, 07:40 AM
|
Charvi Gupta, a Director at Getzler Henrich & Associates (), has been honored as one of the American Bankruptcy Institute’s (ABI) 40 Under 40 Emerging Leaders in Insolvency Practice for 2023. The recognition, which identifies and honors 40...
Read Story
December 04, 2023, 07:27 AM
|
B. Riley Advisory Services, a leading provider of business advisory, appraisal and consulting services and subsidiary of B. Riley Financial announced the addition of Alistair Ross as a Senior Vice President, based in California.Ross is an experienced...
Read Story
November 30, 2023, 08:06 AM
|
Star Mountain Capital, a private credit and secondaries specialist investment firm focused on generating premium returns from the less efficient and labor-intensive market of U.S. private small and medium-sized businesses (the “lower middle-market”)...
Read Story
November 28, 2023, 08:00 AM
|
Great Elm Capital, a business development company, amended its existing $25 million revolving line of credit. City National Bank is the lender according to an 8K filed with the Securities and Exchange Commission.The amendment provides for a...
Read Story
November 28, 2023, 07:53 AM
|
JPMorgan Chase and Next Street released The Middle Matters: Exploring the Diverse Middle Market Landscape, a new report that provides insights into the midsize businesses that power our economy. Conducted and analyzed by Next Street, the research...
Read Story
November 28, 2023, 07:41 AM
|
FGI Worldwide (“FGI”) announced that the UK’s largest independent invoice finance provider, Bibby Financial Services (“BFS”), has chosen FGI T.R.U.S.T. as its software platform for bad debt protection management and administration.FGI T.R.U.S.T. is a...
Read Story
November 28, 2023, 07:12 AM
|
State Street Corporation issued an aggregate principal amount of $1 billion of senior debt and $0.5 billion of senior subordinated debt. The offering was structured in keeping with State Street’s ongoing inclusion, diversity, and equity efforts, with...
Read Story
November 27, 2023, 07:31 AM
|
In celebration of the Thanksgiving season, Hilco Redevelopment Partners (HRP) completed its annual Turkey Drive initiative which aims to spread holiday spirit and gratitude in the communities surrounding HRP redevelopment projects. HRP redevelops...
Read Story
November 27, 2023, 07:21 AM
|
The Global M&A Network has recognized Hank Waida in the 2023 Top 100 Restructuring Professionals. Celebrating its 10th anniversary, the annual list highlights influential professionals in the restructuring, distressed M&A, and turnaround...
Read Story
November 22, 2023, 07:00 AM
|
Churchill Asset Management, an investment specialist of Nuveen, was named 2023 “Lender Firm of the Year” by The M&A Advisor. The firm was honored at the 22nd Annual M&A Advisor Awards Gala held in New York City on November 15, 2023.“We are thrilled...
Read Story
November 21, 2023, 07:46 AM
|
Phoenix Management, a part of J.S. Held “Lending Climate in America” third quarter survey results reveals increased optimism in the economy despite some contradicting underlying factors.Phoenix’s Q3 2023 “Lending Climate in America” survey asked...
Read Story
November 20, 2023, 07:35 AM
|
Cohn & Dussi announced that three attorneys at the firm were recognized by Super Lawyers for 2023. Two attorneys were named to the Super Lawyers List, Michael H. Theodore and Shawn M. Masterson. Only 5 percent of lawyers are named to the Super...
Read Story
November 17, 2023, 07:30 AM
|
EisnerAmper announced that the partners and colleagues of NYC-based accounting, tax, and consulting firm Spielman Koenigsberg & Parker (“SKP”) are joining EisnerAmper in a transaction expected to close in early 2024.Founded in 1955, SKP has six...
Read Story
November 16, 2023, 07:42 AM
|
Hilco Redevelopment Partners (HRP), has partnered with local youth sports organization Beyond the Ball to break ground on the renovation of existing basketball courts used to provide year-round youth sports programming in Chicago’s Little Village...
Read Story
November 14, 2023, 07:30 AM
|
Hercules Capital announced that the U.S. Small Business Administration (“SBA”) has issued a “green light” letter inviting Hercules to submit an application to obtain a license to form and operate a fourth Small Business Investment Company (“SBIC”)...
Read Story
November 10, 2023, 07:47 AM
|
Armstrong Teasdale announced that USFN, a national trade association representing America’s leading mortgage banking and servicing professionals, has named the firm among its 2023 Award of Excellence recipients.Award of Excellence recipients are USFN...
Read Story
November 09, 2023, 05:00 AM
|
Kennedy Lewis Investment Management, a leading alternative credit manager, closed on $4.1 billion for Kennedy Lewis Capital Partners Master Fund III LP and its associated parallel and co-investment vehicles (together, "Fund III"). Investors in Fund...
Read Story
November 08, 2023, 08:20 AM
|
Gridiron Capital announced that RidgeLake Partners has made a passive, minority investment in the firm. RidgeLake, a strategic partnership between OA Private Capital and Apogem Capital, is a dedicated platform focused on acquiring non-control equity...
Read Story
November 08, 2023, 07:06 AM
|
A&G Real Estate Partners, in its capacity as real estate advisor to Rite Aid Corporation announced plans to market for sale a second tranche of neighborhood pharmacy leases, pending approval by the U.S. Bankruptcy Court for the District of New Jersey...
Read Story
November 07, 2023, 07:00 AM
|
Moritt Hock & Hamroff has been recognized in the 2024 edition of Best Law Firms®, ranked by Best Lawyers®, nationally in one practice area and regionally in four practice areas: National Tier 3Bankruptcy and Creditor Debtor Rights / Insolvency and...
Read Story
November 07, 2023, 07:00 AM
|
KKR announced the final closing of KKR Global Impact Fund II (“GIF II” or the “Fund”), a $2.8 billion fund dedicated to investing in companies whose products and services contribute measurable progress toward the United Nations Sustainable...
Read Story
November 06, 2023, 08:00 AM
|
Nations Capital (NCI), a Gordon Brothers company, together with Ritchie Bros. Auctioneers received bankruptcy court approval to be the agent and liquidator of Yellow Corporation's transportation assets.The companies will utilize the expansive...
Read Story
November 03, 2023, 07:39 AM
|
Percent announced the findings of a recent study completed with Coalition Greenwich on trends and data in private credit, demonstrating a seismic shift to private credit market investments. The study, titled “Coalition Greenwich 2023 Private Credit...
Read Story
November 01, 2023, 08:02 AM
|
Solifi, a global fintech software partner for secured finance, announced the latest product enhancements for Solifi ABL. The releases include several new features aimed at improving efficiency through automation, reporting, and customer...
Read Story
October 31, 2023, 07:50 AM
|
Ares Management Corporation announced the final closing of Ares Pathfinder Fund II, L.P. and Ares Pathfinder Fund II (Offshore), L.P. (and together with parallel vehicles, “Pathfinder II” or the “Fund”) at $6.6 billion in commitments. The Fund was...
Read Story
October 30, 2023, 08:19 AM
|
According to a Bloomberg report, private credit firms seeking to capture market share from traditional bank lenders are giving up investor protections as they snag larger financings, according to Moody’s Investors Service.According to the report...
Read Story
October 26, 2023, 07:58 AM
|
IMA Financial Group, a North American integrated financial services company specializing in risk management, retail and wholesale insurance brokerage, and wealth management, has entered a strategic partnership with Chicago-based RedRidge, expanding...
Read Story
October 26, 2023, 05:00 AM
|
LongWater Opportunities, a lower middle market alternative asset manager, has launched a new dedicated private credit and capital solutions strategy focused on the lower-middle market. To drive the strategy, LongWater has hired a team of eight...
Read Story
October 25, 2023, 08:03 AM
|
Solifi, a global fintech software partner for secured finance, received an accolade at the 9th annual Motor Finance Europe Awards in the Digital Innovation of the Year (Technology Company), Retail Solutions/Vehicle Management category. The Awards...
Read Story
October 24, 2023, 07:09 AM
|
Cohn & Dussi, a full-service law firm with its principal office in Boston, has been named to the Great Places to Work list by The Secured Lender for the second year in a row. The Secured Lender is published by SFNet, an industry organization that...
Read Story
October 20, 2023, 07:32 AM
|
SC&H Capital announced that its client, Quality Heating & Air Conditioning Company, has been acquired by Kelso Industries. QHA is a manufacturer and installer of commercial sheet metal ductwork for construction and commercial customers across...
Read Story
October 19, 2023, 06:00 AM
|
Hilco Redevelopment Partners (HRP), broke ground today on the first phase of vertical construction on The Bellwether District’s 1,300-acre South Philadelphia site. Governor Josh Shapiro, Congresswoman Mary Gay Scanlon, U.S. Solicitor of Labor Seema...
Read Story
October 17, 2023, 07:45 AM
|
Hamilton Lane announced the final closing of Hamilton Lane National Small Business Credit Fund, L.P. and Hamilton Lane New York SBIC Fund II, L.P. (or "the Funds"). Together, the Funds total $290 million in size, with commitments from leading...
Read Story
October 17, 2023, 07:19 AM
|
Mercatus Finance, a cash flow lending specialty finance company, announced its official launch. Strategically backed with equity from Arena Investors, Mercatus fills an important void for smaller companies seeking cash flow based loans from $20...
Read Story
October 16, 2023, 08:07 AM
|
Main Street Capital Corporation announced the following recent activity in its private loan portfolio. During the third quarter of 2023, Main Street originated new or increased commitments in its private loan portfolio of $107.3 million and funded...
Read Story
October 13, 2023, 07:30 AM
|
Goldman Sachs entered into an agreement to sell the GreenSky platform and associated loan assets to a consortium of institutional investors led by Sixth Street (the “Consortium”). The transaction is expected to close in the first quarter of 2024...
Read Story
October 12, 2023, 08:15 AM
|
FTI Consulting announced the launch of FTI Delta, a global, industry-specialized strategy consulting practice that delivers tangible value to clients, from strategy definition to execution. FTI Delta will compete directly with traditional strategy...
Read Story
October 12, 2023, 08:12 AM
|
Hilco Redevelopment Partners (HRP) announced the appointment of four national leaders to the company’s corporate advisory board: Dr. Judith Rodin, President Emerita of the University of Pennsylvania and former President of the Rockefeller Foundation;...
Read Story
October 12, 2023, 08:05 AM
|
LSQ and Infor Nexus announced an agreement that provides their network of suppliers access early payments through an LSQ FastTrack® supply chain finance program.“The agreement opens up a world of opportunity for global suppliers to seize the...
Read Story
October 11, 2023, 06:15 AM
|
Global consulting firm J.S. Held announced expanded corporate finance and investment banking expertise with the acquisition of Phoenix Management, providing operationally focused turnaround, transaction, strategic growth investor services, and...
Read Story
October 10, 2023, 08:15 AM
|
Solifi announced The Secured Lender named Solifi on its 2023 Great Places to Work list. This recognition is testament to Solifi’s commitment to attract and retain talent by offering an employee value proposition that includes opportunities to learn...
Read Story
October 10, 2023, 07:56 AM
|
Citizens M&A Advisory served as financial advisor to VTG, an industry-leading provider of modernization and digital transformation solutions to Defense and Intelligence customers, on its recapitalization by A&M Capital Partners.Tracing its roots to...
Read Story
October 09, 2023, 07:44 AM
|
Versana has surpassed a key milestone of more than 1,500 syndicated loan facilities and approximately $900 billion in global loan commitments on its transformative, real-time digital data platform in less than a year since its product launch.The...
Read Story
October 06, 2023, 08:00 AM
|
Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR), part of Wolters Kluwer’s Corporate Performance and ESG (CP & ESG) division, will showcase the capabilities to meet Capital Requirements Regulation (CRR) III and Basel IV requirements at its...
Read Story
October 06, 2023, 07:00 AM
|
ACME Credit Partners, a newly launched New York-based credit-focused investment firm, will provide creative liquidity solutions to the lower middle market.ACME Credit Partners is led by Peter Eschmann and Jay Rogers — both former Managing Directors...
Read Story
October 05, 2023, 08:30 AM
|
Bloomberg reported private debt defaults will reach 5% by early 2024 as portfolios see an estimated one-third of deals come due in the next two-and-a-half years, according to a new report from Bank of America credit strategists Neha Khoda and Dong Ba...
Read Story
October 04, 2023, 07:59 AM
|
Solifi, a global fintech software partner for secured finance, announced the latest product enhancements for its wholesale finance solution. The 2023 releases include several new features designed to provide North American customers with an enhanced...
Read Story
October 03, 2023, 07:50 AM
|
The law firm of Moritt Hock & Hamroff has been recognized as one of Long Island Business News' Inaugural 2023 Empowering Women Honorees for its commitment to the growth and advancement of women, cultivation of diverse and inclusive communities and...
Read Story
October 03, 2023, 07:27 AM
|
U.S. corporate finance leaders have firmly pivoted their focus from revenue growth to cost control as they navigate through an uncertain economic environment and rapidly changing business landscape, according to the 2023 U.S. Bank CFO Insights Report...
Read Story
October 02, 2023, 07:50 AM
|
Värde Partners, a leading global alternative investment firm, announced it has raised nearly $1.5 billion for asset-based lending opportunities through The Värde Asset Lending Fund II and related accounts and co-investments. The firm received support...
Read Story
September 29, 2023, 08:10 AM
|
Confidence in the asset-based lending market in the second quarter was driven by hopes of a soft landing for the U.S. economy, according to data released by the Secured Finance Network. But lingering headwinds and recession risks still must be taken...
Read Story
September 28, 2023, 07:50 AM
|
Moritt Hock & Hamroff announced that Terese Arenth, Leslie Berkoff, Ted Berkowitz, Michael Cardello, James Chou, David Cohen, Robert Cohen, Theresa Driscoll, Andrew Eckstein, David Fitzhenry, Robert Fryman, Julia Gavrilov, Stephen Ginsberg, Henry...
Read Story
September 28, 2023, 07:00 AM
|
Sherwood Partners announced the launch of Sherwood Advisory Services, a new advisory group that leverages the strength of Sherwood Partners’ platform to deliver tailored turnaround and restructuring solutions to middle market companies. Sherwood...
Read Story
September 27, 2023, 07:34 AM
|
Andrew J. Kaye, a Founding Executive and Chief Commercial Officer of Sweet Leaf Madison Capital (SLMC), has been named an honoree in Green Market Report’s inaugural Notable Leaders in Cannabis designation for 2023. Honorees were selected by a panel...
Read Story
September 27, 2023, 05:00 AM
|
nFusion Capital announced they have sold their transportation factoring portfolio to a leading provider of factoring services for motor carriers and owner-operators. This strategic decision will enable the Company to focus on growing their core...
Read Story
September 22, 2023, 08:00 AM
|
Oxford Commercial Finance (OCF), a subsidiary of Oxford Bank, expanded its line of flexible working capital solutions for small to medium-sized businesses (SMBs) with the addition of Purchase Order (PO) Financing as an add-on to the lender’s popular...
Read Story
September 20, 2023, 07:55 AM
|
Breakout Capital, a leading fintech company simplifying access to term loans for small businesses, announced the successful merger of 12Five Capital, a Chicago-based commercial finance company with a focus on factoring, purchase order financing and...
Read Story
September 18, 2023, 08:02 AM
|
Visa released its first-ever 2023-2024 Growth Corporates Working Capital Index (WCI). The study surveyed CFOs and treasurers of growth corporates, organizations that have unique needs and capabilities but often fall through the cracks between small...
Read Story
September 18, 2023, 07:49 AM
|
Tiger Group announced the first four members of its newly launched Board of Advisors. The board members, who provide advice and counsel but are not involved in Tiger’s day-to-day operations, held their inaugural meeting on August 29. They are Elaine...
Read Story
September 14, 2023, 07:48 AM
|
Great Rock Capital announced the successful closing of an investment-grade corporate note financing. The funds from the transaction will be used to support the ongoing growth and success of the firm. The notes were assigned a BBB rating by a...
Read Story
September 14, 2023, 07:46 AM
|
Gordon Brothers acquired Durkin Group, a professional services firm that provides field examinations and diligence services to lenders, investors and operators in North America. The investment enhances Gordon Brothers’ suite of service offerings to...
Read Story
September 13, 2023, 08:04 AM
|
H.I.G. Capital announced the closing of H.I.G. Middle Market LBO Fund IV (the “Fund”). The Fund closed with aggregate capital commitments of $5.5 billion, in addition to co-investment separately managed accounts of $450 million, significantly...
Read Story
September 13, 2023, 08:00 AM
|
Solifi was named among the top 100 on the 2023 IDC FinTech Rankings. The 20th annual vendor ranking recognizes the world’s top 100 leading hardware, software, and service providers to the financial services industry. “We are honored to once again be...
Read Story
September 11, 2023, 08:00 AM
|
Lendscape and Lenvi Riskfactor have teamed up to offer enhanced digital risk management for finance providers across their entire lending operation. Combining Lendscape’s market-leading lending technology with Lenvi Riskfactor’s advanced, real-time...
Read Story
September 11, 2023, 07:00 AM
|
Solifi, a global fintech software partner for secured finance, announced that Access Capital, a privately owned asset-based lending firm based in New York City, NY, has upgraded from its on-premise system to Solifi ABL on Open Finance Platform. In...
Read Story
September 07, 2023, 07:52 AM
|
FGI Worldwide announced that Ronnie Bloom, Managing Director, will expand his business development efforts to the Western U.S. Mr. Bloom will remain involved in Canadian transactions as he develops and nurtures partnerships in California, the Pacific...
Read Story
September 07, 2023, 07:25 AM
|
Houlihan Lokey launched a new practice within the firm’s Financial and Valuation Advisory (FVA) business to provide clients with strategic counsel on sustainability and environmental, social, and governance (ESG) issues and to assist boards of...
Read Story
September 06, 2023, 08:02 AM
|
With concerns about inflation and a potential recession ticking down, business executives have grown guardedly less pessimistic about the U.S. economy's prospects, according to the third-quarter AICPA & CIMA Economic Outlook Survey. The survey polls...
Read Story
September 01, 2023, 07:33 AM
|
AmRock Financial announced the launch of its newly redesigned website, offering a seamless, user-friendly intuitive design experience, quick and easy access to essential information and a comprehensive understanding of the company’s products and...
Read Story
September 01, 2023, 06:32 AM
|
ABL Advisor's offices will be closed on Monday, Sept. 4 in observance of Labor Day. We will return with our Daily eNewsletter on Tuesday, Sept. 5.We wish all of our readers a safe and happy holiday!
Read Story
September 01, 2023, 05:00 AM
|
B. Riley Financial led the equity financing to facilitate the $2.8 billion management-led acquisition of Franchise Group, Inc. (“FRG”) which was completed on August 21, 2023.B. Riley invested $216.5 million of new capital in the transaction. Other...
Read Story
August 28, 2023, 08:00 AM
|
Deloitte Private released the findings of a survey, “Private Company Outlook: Raising Capital,” asking C-level private business leaders in the U.S. about their near term strategies for navigating financial risks and opportunities.Key...
Read Story
August 24, 2023, 07:00 AM
|
Best Lawyers in America has recognized 11 Moritt Hock & Hamroff lawyers in its 2024 edition. Four lawyers were included in The Best Lawyers in America and seven lawyers were included in The Best Lawyers: Ones to Watch in America.Best Lawyers in...
Read Story
August 18, 2023, 07:45 AM
|
eCapital Corp. achieved the 1383rd position on the esteemed 2023 Inc. 5000 list, highlighting an impressive growth rate of 422%. The Inc. 5000 list, renowned for offering a comprehensive data-driven perspective on the achievements of companies...
Read Story
August 16, 2023, 07:36 AM
|
Solifi announced that Merchant West Group, a leading privately-owned South African financial institution, has successfully upgraded to Solifi ABL on the Open Finance Platform.Merchant West Group were previously operating on a legacy system that was...
Read Story
August 15, 2023, 07:30 AM
|
Haversine Funding II LLC, one of the lender finance portfolios held by Haversine Management LLC, announced the closing of a $45,000,000 line of credit with First Horizon Bank on July 19, 2023. The new credit facility marks a new chapter in...
Read Story
August 10, 2023, 08:00 AM
|
Bain Capital Credit announced that the firm’s Private Credit Group invested $1.3 billion to support the growth of middle market and private equity-backed companies during the first half of 2023.Bain Capital Credit’s Private Credit Group invested in...
Read Story
August 10, 2023, 08:00 AM
|
Clifford Chance advised U.S. headquartered private equity firm MiddleGround Capital on its purchase of the UK based automotive transmissions manufacturer and supplier Xtrac from Inflexion. MiddleGround Capital is an operationally focused private...
Read Story
August 09, 2023, 06:00 AM
|
Gordon Brothers and Nations Capital Inc. (NCI) have joined forces to expand the firms’ commercial and industrial market presence and serve a broader range of clients with holistic solutions.Gordon Brothers’ majority investment in NCI will bolster...
Read Story
August 04, 2023, 08:20 AM
|
After nearly two years of resolving contentious disputes between the founding partners as well as other stakeholders in an Issaquah, Washington brewpub, restructuring specialist Revitalization Partners (RP) has sold the company to a group of...
Read Story
|
A new survey from Grant Thornton revealed that chief financial officers (CFOs) are heavily focused on two areas that could lead to revenue gains: building and preserving a workforce that can help drive them toward growth; and investing in technology...
Read Story
|
Crescent Capital Group, a leading alternative credit investment firm, announced the closing of Atlas Senior Loan Fund XXI (“Atlas 21”), a collateralized loan obligation (“CLO”) fund with a target par amount of $350 million. Atlas 21 will invest...
Read Story
|
Hilco Real Estate Finance (HREF), an institutionally backed real estate bridge lender, is bringing flexible, fast, short-term property finance expertise to the marketplace. The group is led by industry experts and co-founders Brad Altberger, Chief...
Read Story
|
Garrington Group of Companies announced the formation of Baker Garrington, a new wholly owned subsidiary created to expand its ability to respond to working capital challenges facing underserved small- to medium-sized businesses with practical and...
Read Story
|
Jefferies Credit Partners, a leading private credit manager and the asset management arm of Jefferies Finance, announced the intention to launch a private placement of a business development company (“BDC”) to further enhance its lending capacity in...
Read Story
|
Bloomberg reported Apollo Global Management is launching its first-ever fund dedicated to asset-based financing, laying the groundwork for what the firm is telling investors could be the largest vehicle of its kind in the market.According to the...
Read Story
|
Angelo Gordon announced the final close of the AG Asset Based Credit Fund, L.P. (the “Fund”) with over $1 billion of equity commitments, exceeding its $800 million target. The Fund received significant support from existing Angelo Gordon clients, as...
Read Story
|
Nassau Financial Group announced the formation of Nassau Global Credit (“NGC”), which combines Angel Island Capital Management (“AIC”) and Nassau Corporate Credit (“NCC”). NGC will be a subsidiary of Nassau’s asset management segment, Nassau Asset...
Read Story
|
Solifi announced Ivan Bagaliyski, Director, Go-To-Market Strategy at Solifi, received the highly commended mention in the Rising Star category at the AFC Summer Awards 2023.The Rising Star award celebrates an individual who has demonstrated their...
Read Story
|
Argonne Capital Group completed two recapitalizations and added to its executive ranks as the firm institutionalizes and seeks to propel future growth.Argonne Capital Group completed a recapitalization of National Fitness Partners (“NFP”), an Argonne...
Read Story
|
Bowmark Capital, the mid-market private equity firm, has made a significant investment in Lendscape, a leading technology provider to the global secured commercial finance market. Bowmark will support Lendscape’s continuing investment in innovative...
Read Story
|
Marathon Asset Management announced the final close for Marathon Secured Private Strategies Fund III, the third vintage of its closed-end asset-based lending (“ABL”) fund. The Fund, which was oversubscribed, accepted $1.7 billion of capital...
Read Story
|
Houlihan Lokey has agreed to acquire 7 Mile Advisors (7MA), an independent advisory firm that provides a range of investment banking services to clients across the IT services sector. The transaction, signed July 7, further enhances Houlihan Lokey’s...
Read Story
|
Global security leader Forcepoint signed a definitive agreement to sell the Company’s Global Governments and Critical Infrastructure (G2CI) business to TPG, a global alternative asset management firm. The transaction will separate Forcepoint’s...
Read Story
|
B. Riley Securities, a subsidiary of B. Riley Financial will host its 2023 Consumer Conference in New York on Thursday September 14. The conference highlights companies from a range of consumer verticals to share their stories with leading...
Read Story
|
Golub Capital announced that the Golub Capital Private Credit Fund (GCRED), a non-traded business development company, broke escrow with approximately $650 million in net proceeds on June 30, 2023. Golub Capital, founded in 1994, is a leading lender...
Read Story
|
Man Group plc entered into an agreement to acquire a controlling interest in Varagon Capital Partners, L.P., a leading U.S. middle market private credit manager with $11.8B of assets under management (‘AUM’) and $15.4B of total client...
Read Story
|
Bain Capital Credit announced that the firm’s Private Credit Group acted as sole lender and administrative agent for a senior credit facility to support Audax Private Equity’s strategic investment in Congress Wealth Management, an independent...
Read Story
|
CVC Credit, the $41 billion global credit management business of CVC, announced the final close of CVC CLO Equity III at its hard cap with $800 million of commitments. Across its period of deployment, this equity fund is intended to support over $10...
Read Story
|
ABL Advisor's offices will be closed on Tuesday, July 4 in observance of Independence Day. We will return with our Daily eNews on Wednesday, July 5. We wish all of our readers a safe and happy holiday!
Read Story
|
Medalist Partners, an alternative investment management firm focused on private credit and structured credit, is pleased to announce the final closing of Medalist Partners Asset-Based Private Credit Fund III. The oversubscribed fund is closing with...
Read Story
|
Moritt Hock & Hamroff announced that Leslie Berkoff and Theresa Driscoll, partners of the firm, have been recognized by Lawdragon as 500 Leading U.S. Bankruptcy & Restructuring Lawyers for 2023. The annual Lawdragon 500 Leading Lawyers in America is...
Read Story
|
Oaktree Capital Management closed its Life Sciences Lending Fund and its related vehicles (“the Fund”), with total capital commitments in excess of $2.3 billion. The Fund, which is Oaktree’s first dedicated life sciences fund, was oversubscribed and...
Read Story
|
Victory Park Capital (“VPC”), announced the launch of Triumph Capital Markets (“Triumph”), an affiliate of VPC focused on structured financing and capital markets solutions.Triumph will be led by experienced asset-backed securitization and capital...
Read Story
|
Ninepoint Partners has expanded its partnership with Monroe Capital.Monroe will be enhancing its institutional offerings in the Canadian market through the expanded partnership with Ninepoint Institutional Partners LP, a division of Ninepoint...
Read Story
|
New data suggests a pattern of credit expansion and a significant shift in credit usage, indicating potential challenges for businesses according to the Equifax Canada Market Pulse Business Credit Trends Report for Q1 2023. Additionally, it...
Read Story
|
Cohn & Dussi announced that Attorney William J. Delaney was recognized by Super Lawyers for 2023. Delaney, Counsel at Cohn & Dussi, has been named to the Super Lawyers list for Bankruptcy every year since 2008. Only 5 percent of lawyers are named...
Read Story
|
ABL Advisor's offices will be closed on Monday, June 19th in observance of Juneteenth Day. We will return with our Daily News on Tuesday, June 20th.We wish all of our readers a safe and happy holiday!
Read Story
|
Traditional bank lenders are applying more pressure to borrowers and now showing less tolerance when mid-sized companies in the U.S. miss financial targets, according to a new survey of business executives and lenders sponsored by Carl Marks Advisors...
Read Story
|
John Hancock Investment Management, a company of Manulife Investment Management, expanded availability for its alternative investment product offering. Having launched its first alternative allocation fund in 2009, the firm continues to see increased...
Read Story
|
HPS Investment Partners closed its second Core Senior Lending Fund ("CSL II") and parallel investment funds and accounts, with approximately $10 billion in investable capital. This includes $7.3 billion in equity commitments.CSL II will focus on...
Read Story
|
SQN Banking Systems reported that long-term President Joe Uhland has announced his retirement effective June 30, 2023.Chief Technology Officer Stan Jaslar will replace Uhland as SQN president and CEO.Uhland has led SQN Banking Systems since 1996, and...
Read Story
|
A&G Real Estate Partners is entertaining offers on 49 David’s Bridal leases across the United States—transactions that must be presented for bankruptcy court approval by June 30. “Interested retailers and landlords need to act now to seize these...
Read Story
|
Horizon Technology Finance announced that Horizon Secured Loan Fund I LLC, Horizon's wholly-owned subsidiary ("HSLF"), has amended its senior secured debt facility with a large U.S. based insurance company. Under the amended agreement, the commitment...
Read Story
|
Ninepoint Partners, one of Canada’s leading alternative investment management firms, released a new white paper that analyzes the factors they believe are setting the stage for the continued growth of the private debt asset class across the globe....
Read Story
|
Paul Hastings is advising Morgan Stanley on its $1.55 billion of committed bridge financing for RenaissanceRe’s Holdings Ltd. acquisition of American International Group's treaty reinsurance business, which includes Validus Reinsurance Ltd. and its...
Read Story
|
BroadLight Capital launched a $225 million debut fund to invest in growth stage companies across consumer and technology sectors.Co-founded by prominent entertainment attorney, Kevin Yorn, renowned talent manager, Rick Yorn, and seasoned investment...
Read Story
|
EisnerAmper announced that the partners and colleagues of Chicago-based accounting and advisory firm Morrison & Morrison are joining EisnerAmper in a transaction expected to close in the summer of 2023.Founded more than 75 years ago, Morrison &...
Read Story
|
EisnerAmper announced its new, state-of-the-art website. The site promises to be a go-to informational resource for clients, colleagues and the public-at-large who rely on timely, comprehensive content to help run their businesses.Using advanced...
Read Story
|
Legacy Corporate Lending (“Legacy”) a new asset-based lending (ABL) company, announced its launch as an independent lender focused on serving the needs of middle market companies across North America. Legacy is launching with a significant equity...
Read Story
|
US Capital Global launched a newly formed Mergers and Acquisitions (M&A) division, headed by investment banking veterans Jeffrey Sweeney (Chairman and CEO), Charles Towle (COO and Managing Partner), Mitchell R. Cohen (Senior Vice President and...
Read Story
|
LexisNexis® Risk Solutions released its latest Small and Midsize Business (SMB) Lending Fraud Study. Based on a survey of lenders, SMB lending fraud has increased significantly during the past 12 months, with many smaller banks, credit unions and...
Read Story
|
Securitize, a firm digitizing the issuance, management, and trading of real-world assets, launched a new feeder fund offering tokenized exposure to an evergreen private credit fund from leading private markets investment firm, Hamilton Lane...
Read Story
|
PGIM, the $1.2 trillion global investment management business of Prudential Financial, Inc., has signed a definitive agreement to acquire a majority interest in Deerpath Capital Management, LP and its associated affiliates. Deerpath Capital is a U.S....
Read Story
|
Ryan Gross, a Director at Getzler Henrich & Associates, received the 2022 NextGen Award by the Turnaround Management Association- Detroit Chapter at their inaugural Awards Ceremony. The NextGen Award recognizes emerging restructuring leaders who...
Read Story
|
Kian Capital Partners, a lower-middle-market focused private investment firm, closed the firm’s latest fund, Kian Growth Partners III, L.P. (“KGP III” or “the Fund”), which was oversubscribed at $400 million.Kian’s existing limited partners (“LPs”)...
Read Story
|
Moritt Hock & Hamroff opened a new office in the Fort Lauderdale, FL metro area serving the Southeast Florida market. The office will be supported by four attorneys from the Florida-based law firm of Ritter & Chusid including one of its founders...
Read Story
|
Jefferies Financial Group and Sumitomo Mitsui Financial Group, Sumitomo Mitsui Banking Corporation, SMBC Nikko Securities Inc., and SMBC Nikko Securities America Inc. (collectively, “SMBC Group”) have expanded their strategic alliance to collaborate...
Read Story
|
CVC Credit announced that it has priced Apidos XLV (45), a new issue Collateralized Loan Obligation (“CLO”) vehicle totalling $500 million (c.€450 million). Bank of America served as lead arranger. Apidos XLV is the fifth CLO priced by CVC Credit’s...
Read Story
|
The private capital market is alive and well, according to a new report from Proskauer. The leading international law firm released the findings of its annual Private Credit Survey which asked more than 150 executives at private credit firms across...
Read Story
|
Ares Management Corporation announced the launch of Ares Strategic Income Fund (“ASIF”), a perpetual capital, continuously offered, non-traded business development company, which seeks to primarily invest in directly originated, senior secured...
Read Story
|
J.P. Morgan Growth Equity Partners (GEP) closed its inaugural Growth Equity Fund ("Fund"), with over $1 billion in aggregate capital commitments raised from a broad set of institutions, family offices and individual investors across the Americas...
Read Story
|
EisnerAmper announced that the directors and colleagues of Louisiana-based accounting, assurance, tax, consulting and technology firm Postlethwaite & Netterville (“P&N”) will be joining EisnerAmper in a transaction anticipated to close by the summer...
Read Story
|
Hilco Global made a $50,000 donation to SUNRISE DAY CAMP-CHICAGO, a new day camp for kids with cancer which will open this June in Lake Zurich, Illinois. Sunrise Day Camp-Chicago will provide a full-summer day camp experience specifically designed...
Read Story
|
Oxford Commercial Finance (OCF), a subsidiary of Oxford Bank, announced an expanded line of flexible working capital solutions for small to medium-sized businesses, increased customer base, and new website with helpful resources for business owners....
Read Story
|
SG Credit Partners announced the re-branding of Stonegate Capital, which it acquired in late 2021, to SG Consumer Products. SG Consumer Products provides asset-based lines of credit plus IP/brand and M&E term loans primarily to sponsor-backed...
Read Story
|
Wingspire Capital completed five transactions with cumulative commitments of more than $230 million in the first quarter of 2023.The types and sizes of the transactions were diverse, as were the borrowers — ranging from a major cosmetics brand to a...
Read Story
|
Intrinsic, a national valuation and transaction advisory firm based in Denver, Colorado launched a separate Fixed Asset Valuation practice.
Intrinsic has historically served its clients with fixed asset valuation needs through its network of...
Read Story
|
FTI Consulting released the findings of its 2023 U.S. Loan Market Survey, which offers insight into bank and non-bank lenders’ perspectives on the U.S. loan industry and highlights expectations for leveraged credit market conditions in 2023.This...
Read Story
|
The fourth quarter Phoenix Management “Lending Climate in America” survey results reveals the imminent threat of a slow-down in consumer spending.With extra tax credits and pandemic-related stimulus payments halted, the IRS has warned Americans to...
Read Story
|
Golub Capital BDC originated $157.4 million in new middle-market investment commitments during the three months ended March 31, 2023. Approximately 98% of the new middle-market investment commitments were one stop loans and 2% were equity and other...
Read Story
|
Gordon Brothers will sell retail leases and operate going-out-of-business sales at all 39 retail store locations of Esco Ltd., operating as Shoe City, throughout Maryland, Virginia and Washington, D.C. After 70 years in business, Shoe City filed for...
Read Story
|
B. Riley Financial earned top honors during The M&A Advisor 17th Annual Turnaround Awards Gala held on March 22, 2023 at The Colony Hotel in Palm Beach, Florida.B. Riley was awarded in the following categories in recognition for its leadership in...
Read Story
|
Sound Point Capital Management, a credit-oriented investment manager overseeing approximately $32 billion in total assets, entered into an agreement to acquire Assured Investment Management LLC and certain of its related asset management entities...
Read Story
|
Hancock Whitney has established a new companywide asset-based lending (ABL) division primarily serving 12 states across the southern United States. Mike Knuckles, an asset-based lending executive with decades of industry experience, will lead the...
Read Story
|
Mitsubishi HC Capital America – and its subsidiary, Mitsubishi HC Capital Canada – along with Mitsubishi HC Capital (U.S.A.) and ENGS Commercial Finance has merged to create the largest non-bank, non-captive finance provider throughout North America...
Read Story
|
The Consumer Financial Protection Bureau (CFPB) has finalized a rule required by Congress to increase transparency in small business lending, promote economic development, and combat unlawful discrimination. Lenders will collect and report...
Read Story
|
Solifi announced Merchant West Group, a leading privately owned South African financial institution, will upgrade from an on-premise system to Solifi ABL on the Open Finance Platform.The upgrade is instrumental in the delivery of Merchant West...
Read Story
|
Versana announced the addition of four new leading banks – Deutsche Bank, Morgan Stanley, U.S. Bancorp and Wells Fargo – as investors in its industry backed, digital data and technology platform transforming the $5 trillion syndicated loan market....
Read Story
|
Hilco Digital Assets, a Hilco Global company and leader in the acquisition and monetization of premium digital assets, has made a substantial strategic investment in Squadhelp.com, a disruptive naming platform that combines AI, Crowdsourcing, and...
Read Story
|
Carl Marks Advisors announced that Scott Webb, Partner, has been awarded Investment Banker of the Year at the 17th Annual Turnaround Awards, hosted by The M&A Advisor. The award was presented on Wednesday, March 22, following the 2023 Distressed...
Read Story
|
Citizens M&A Advisory served as the exclusive financial advisor to General Die Casters, Inc. on its combination with Dart Casting, Inc.Headquartered in Twinsburg, OH, General Die Casters is a leading, value-added provider of complex, close tolerance...
Read Story
|
Monroe Capital was selected as the 2022 Best Performance in Private Debt - Mid-Cap Award recipient by Korean Economic Daily. Best Asset Managers by Korean Investors Awards Program was created in 2020 by The Korea Economic Daily Global Edition, one of...
Read Story
|
Ares Management Corporation and Mubadala Investment Company, a global sovereign investor, formed a joint venture to invest in global credit secondaries opportunities.The joint venture, anchored by Mubadala, will initially aim to deploy approximately...
Read Story
|
In a poll conducted by The Secured Finance Network (SFNet), since new CA disclosure rules were implemented in December 2022, 40% of respondents were found to be “no longer lending” to prospective borrowers who fall within the regulations’ threshold...
Read Story
|
White Oak Global Advisors announced that the firm, together with its financing affiliates, originated $1.4 billion of loan transactions across 60 deals in 2022.“2022 was an exceptional year for White Oak,” said Andre Hakkak, Co-Founder & CEO. “The...
Read Story
|
In its commitment to support the communities where it operates, Mitsubishi HC Capital Canada has completed its inaugural United Way campaign. Several local organizations will benefit from the company’s donations. These include Anna et la Mer, the...
Read Story
|
MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. announced it originated $15.1 billion in private placement debt and private structured credit across 245 transactions in 2022. This included $4.1...
Read Story
|
Deerpath Capital Management announced the closing of its Deerpath CLO 2023-1 ("the Fund"), a $504 million Collateralized Loan Obligation (CLO).Deerpath CLO 2023-1 represents the seventh CLO issued by Deerpath since 2018 and its largest CLO issuance...
Read Story
|
Crescent Capital BDC announced the closing of the previously announced merger with First Eagle Alternative Capital BDC. The combined company, which will remain externally managed by Crescent Cap Advisors, LLC, a subsidiary of Crescent Capital Group...
Read Story
|
Marathon Asset Management announced the closing of Bryant Park Funding 2023-19 Ltd., a $400 million new issue Collateralized Loan Obligation (“CLO”). This is the first new CLO executed by Marathon’s global Performing Credit platform in 2023, as well...
Read Story
|
On International Women’s Day, SFNet president and former CEO of Gerber Finance and eCapital ABL, Jennifer Palmer, announced the formation of JPalmer Collective. The asset-based lending firm will provide customized financing solutions with white-glove...
Read Story
|
United Furniture Industries ("UFI") has engaged a joint venture of SB360 Capital Partners ("SB360") and Hilco Global ("Hilco") (SB360 and Hilco together are hereinafter referred to as the "JV") as exclusive agents for the disposition of Inventory...
Read Story
|
Solifi, a global fintech software partner for secured finance, announced the release of its latest version of Solifi Originations for equipment and automotive finance lenders in North America. The newest features enable a multitude of automated...
Read Story
|
Monroe Capital announced continued strong investment activity for 2022. The firm closed approximately $6 billion in new financing commitments across 115 separate transactions. Monroe’s assets under management increased by 29% to approximately $16...
Read Story
|
The Maurice A. Deane School of Law at Hofstra University has named Juliana Gonzalez as the recipient of the 2022-2023 Moritt Hock & Hamroff Business Law Honors Fellowship and Estelle Gregory as the recipient of the 2022-2023 Marc Hamroff Annual...
Read Story
|
Monroe Capital was selected as the recipient of two separate Private Debt Investor (“PDI”) awards, including the 2022 Lower Mid-Market Lender of the Year and CLO Manager of the Year in the Americas. PDI is published by PEI, the only global B2B...
Read Story
|
Citizens M&A Advisory served as the exclusive financial advisor to Apogee IT Services, backed by Brook Venture Partners, on the sale of its U.S. assets to Magna5. Magna5 is a national provider of managed IT, cybersecurity and cloud-based services and...
Read Story
February 27, 2023, 07:41 AM
|
Spouting Rock Asset Management announced an ownership stake in Altan Asset Management LLC (Altan), an investment management firm that aims to drive outsized returns by diligently seeking overlooked opportunities in the global equity markets.Led by...
Read Story
February 24, 2023, 07:00 AM
|
Wolters Kluwer announced that it intends to bring together four of its global enterprise software businesses to form a new division, Corporate Performance & ESG. This is to meet the growing demand from corporations and banks for integrated financial...
Read Story
February 23, 2023, 07:48 AM
|
Solifi announced the addition of a leading German transport equipment manufacturer to its European asset finance customer portfolio. Under the new pan-European agreement, Solifi will implement its end-to-end Originations and Portfolio Management...
Read Story
February 22, 2023, 07:42 AM
|
Stonebriar Commercial Finance (“Stonebriar”) continued to serve its valued customer base, originating $2.3 billion of new business volume for 2022, a 53% increase over 2021, while increasing ending receivables and serviced assets to over $5.6 billion...
Read Story
February 21, 2023, 07:07 AM
|
Bain Capital Credit, a leading global credit specialist, announced the launch of Bain Capital Private Credit (“BCPC” or the “Fund”), a perpetual life, non-traded business development company. The Fund will offer access to income-producing investments...
Read Story
February 17, 2023, 07:56 AM
|
AlixPartners entered into an agreement to acquire leading independent restructuring practice THM Partners LLP (THM). The proposed transaction will see THM’s 40 Partners and staff located in the UK, Germany, and Singapore joining AlixPartners’...
Read Story
February 17, 2023, 07:37 AM
|
B. Riley Advisory Services expanded the firm’s appraisal and valuation services with the addition of a dedicated field examination practice. This experienced team specializes in developing company-specific field examination procedures in...
Read Story
February 16, 2023, 07:53 AM
|
Global M&A Network presented the 14th Annual Americas M&A Atlas Awards at a gala held this year in New York City on January 19. Carl Marks Advisors, a leading investment bank providing financial and operational advisory services to middle market...
Read Story
February 16, 2023, 07:10 AM
|
FTI Consulting announced the publication of Navigating Today’s Environment | The Directors’ and Officers’ Guide to Restructuring (Second Edition), which examines key topics and challenges facing directors and officers leading distressed enterprises...
Read Story
February 16, 2023, 07:00 AM
|
EisnerAmper signed a multi-year sponsorship agreement with LPGA golf star Paula Creamer to become a brand ambassador. As part of this agreement, EisnerAmper’s logo will be featured on Creamer’s golf shirts during all her golf-related appearances...
Read Story
February 13, 2023, 07:25 AM
|
Nuveen, the $1.1 trillion investment manager of TIAA, and Churchill Asset Management, an investment-specialist affiliate of Nuveen, announced that Nuveen Churchill Private Capital Income Fund (PCAP) will offer qualified individual investors1 access...
Read Story
February 09, 2023, 07:49 AM
|
Wingspire Capital provided $700+ million in senior secured financing commitments in 2022, bringing its total to $3 billion in its third year of operations.
“We are pleased to reach this commitment milestone in our third year of operations as we...
Read Story
February 08, 2023, 08:26 AM
|
Solifi, a global fintech software partner for secured finance, announced the release of its latest version of Solifi Asset-Based Lending (ABL) software, which includes several new and enhanced features designed to improve both the lender and borrower...
Read Story
February 08, 2023, 07:55 AM
|
Rosenthal & Rosenthal announced the launch of a new recourse factoring program designed to meet the unique financing needs of growing service businesses and light manufacturing or assembly businesses. An alternative to bank financing, Rosenthal’s...
Read Story
February 07, 2023, 08:00 AM
|
In response to increasing demand for top-tier data security by large asset-based lenders, Asset Compliant Solutions (ACS) announced that the company has secured SOC-2 Certification from the American Institute of Certified Public Accountants (AICPA)....
Read Story
February 02, 2023, 07:32 AM
|
Diamond Scaffold Services, a scaffolding rental company with locations in the southern United States, has retained SC&H Capital to run the bankruptcy court-approved sale process for the Company. Founded over 20 years ago, DSS is a provider of...
Read Story
January 30, 2023, 07:10 AM
|
Citizens M&A Advisory served as the financial advisor to Eagle Merchant Partners on its acquisition of Eskola Roofing & Waterproofing, a leading provider of commercial roofing and waterproofing services.Eagle Merchant Partners is an Atlanta-based...
Read Story
January 27, 2023, 07:00 AM
|
Dekel Capital has launched Dekel Correspondent Lending (DCL), which on behalf of capital providers including a global asset manager and large European bank, will originate balance sheet and CMBS loans for the acquisition, refinancing and...
Read Story
January 25, 2023, 07:53 AM
|
SLR Capital Partners closed on $2.2 billion of equity commitments within SLR's direct cash flow lending and specialty finance strategies ("Multi-strategy Private Credit") during the second half of 2022. Inclusive of anticipated leverage, the...
Read Story
January 24, 2023, 08:06 AM
|
eCapital Corp. issued $95 million in lines of credit during the fourth quarter of 2022 through its eCapital ABL North America division. With this working capital, the companies – which include CPG products in the home and lawn categories – plan to...
Read Story
January 24, 2023, 07:40 AM
|
Main Street Alliance (MSA), a non-profit organization that works with small businesses across the country to create an equitable economy, announced it has partnered with Biz2Credit, a leading online financing resource, to provide working capital and...
Read Story
January 23, 2023, 07:00 AM
|
The fourth quarter Phoenix Management “Lending Climate in America” survey results reveal that inflation continues to plague the economy and is expected to do so well into 2023..Phoenix’s Q4 2022 “Lending Climate in America” survey asked lenders how...
Read Story
January 19, 2023, 07:48 AM
|
Finance ERC, a new financial services industry provider, announced its innovative solution for businesses affected by the COVID-19 pandemic and economic shutdown.The brainchild of two alternative financing industry pioneers, David Goldin & Jeffrey...
Read Story
January 18, 2023, 06:00 AM
|
Turnarounds & Workouts has again recognized Getzler Henrich & Associates with the prestigious honor of being selected as one of the top U.S. Outstanding Turnaround Firms.Getzler Henrich, founded in 1968, is one of the nation's oldest and most...
Read Story
January 17, 2023, 07:53 AM
|
Citizens M&A Advisory served as the exclusive financial advisor to The Acacia Group, an independent sponsor specializing in digital transformation, on its acquisition of Isos Technology, an award-winning Atlassian Platinum and Enterprise Solution...
Read Story
January 13, 2023, 07:08 AM
|
In honor of Martin Luther King, Jr. Day, ABL Advisor will be closed Monday, January 16th. We will return with our Daily eNews on Tuesday, January 17th.
Read Story
January 13, 2023, 07:00 AM
|
Cresset Partners has launched the Cresset Partners Private Credit Fund, LLC (the "Fund"). The Fund invests in a diversified portfolio of private senior secured loans, among other private credit opportunities, with the objective of delivering...
Read Story
January 11, 2023, 08:01 AM
|
Golub Capital BDC originated $247.0 million in new middle-market investment commitments during the three months ended December 31, 2022. Approximately 93% of the new middle-market investment commitments were one stop loans, 3% were senior secured...
Read Story
January 11, 2023, 07:49 AM
|
Solifi, a global fintech software partner for secured finance, announced its newest technology partnership with Codat to make it easier for asset-based lending (ABL) firms to make smarter, faster, and actionable credit decisions. Using pre-built APIs...
Read Story
January 10, 2023, 08:00 AM
|
LSQ, a leading provider of working capital finance and payments solutions, and Calculum, an industry leader in financial artificial intelligence (AI) and data-analytics services, announced an agreement to collaborate and combine LSQ working capital...
Read Story
January 10, 2023, 07:48 AM
|
Cohn & Dussi, a full-service law firm with its principal office in Boston, MA, announced four attorneys from the firm were named Top Lawyers by Boston magazine.Boston magazine’s Top Lawyers List recognizes lawyers throughout Greater Boston for...
Read Story
January 09, 2023, 07:23 AM
|
Editor's note: This news story was published in error on December 27, 2022 and has been retracted. We apologize for the error.
Read Story
December 30, 2022, 03:00 PM
|
ABL Advisor will be closed Friday, December 30th through Monday, January 2nd for the New Year’s holiday. We will return with our Daily eNews Blast on Tuesday, January 3rd.We wish all of our readers, advertisers and colleagues a safe holiday and a...
Read Story
December 29, 2022, 06:00 AM
|
National Funding announced that the San Diego Business Journal recognized CEO and Founder David Gilbert in the finance section of its annual edition of the SD 500 - The Most Influential People in San Diego.The Business Journal taps into its veteran...
Read Story
December 28, 2022, 07:27 AM
|
Stifel Financial Corp. signed a definitive agreement to acquire Torreya Partners LLC (“Torreya”), a leading independent M&A and private capital advisory firm serving the global life sciences industry. Terms of the transaction were not...
Read Story
December 27, 2022, 07:45 AM
|
Cohn & Dussi LLC announced three attorneys at the firm were recognized by Super Lawyers for 2022. William J. Delaney, Counsel at Cohn & Dussi, has been named to the Super Lawyers list for Bankruptcy every year since 2008. Only 5 percent of lawyers...
Read Story
December 27, 2022, 07:29 AM
|
Main Street Capital Corporation announced the closing of a private notes offering totaling $100.0 million in aggregate principal amount (the "Notes"). The Notes are unsecured and bear interest at a fixed rate of 7.84% per year, payable semiannually...
Read Story
December 27, 2022, 07:22 AM
|
ABL Advisor will be closed Friday, December 23rd through Monday, December 26th for the Christmas holiday. We will return with our Daily eNews on Tuesday, December 27th.We wish all of our readers, advertisers and partners a very safe and happy holiday...
Read Story
December 22, 2022, 07:00 AM
|
The third quarter saw continued confidence in the asset-based lending market, according to data released by the Secured Finance Network, and that was welcome news as the country wrestles with inflation, rising interest rates and a slowed...
Read Story
December 20, 2022, 07:47 AM
|
Configure Partners acted as exclusive financing advisor to Hidden Harbor Capital Partners (HHCP) in securing committed debt capital to support HHCP’s acquisition of Avtron Power Solutions (Avtron), the global market leader in the design and...
Read Story
December 19, 2022, 07:25 AM
|
B. Riley Financial, one of the largest creditors of Core Scientific, Inc, issued an open letter to Core Scientific shareholders and lenders.In light of Core Scientific's strategic alternatives process with respect to its capital structure, B. Riley...
Read Story
December 16, 2022, 08:00 AM
|
CIBC Asset Management is expanding its strategic relationship with Ares Management Corporation to add strategies that invest in global private credit markets. Ares is currently the sub-advisor to the Renaissance Floating Rate Income Fund....
Read Story
December 16, 2022, 07:52 AM
|
Gordon Brothers has transformed and sold the global ORSAY brand, archives, and related trademarks and other intellectual property to a private investor from the Czech Republic operating under Orsay International. The private investor will continue to...
Read Story
December 15, 2022, 07:40 AM
|
Vida Capital, a portfolio company of RedBird Capital Partners and Reverence Capital Partners, announced a corporate rebranding, which includes the changing of its name to Obra Capital, Inc. (the “Company” or “Obra”), as part of the Company’s ongoing...
Read Story
December 14, 2022, 07:14 AM
|
KKR announced the release of Regime Change: The Benefits of Private Credit in the ‘Traditional’ Portfolio by Henry McVey, CIO of KKR’s Balance Sheet and Head of Global Macro and Asset Allocation (GMAA) and Racim Allouani, Head of Portfolio...
Read Story
December 14, 2022, 07:05 AM
|
William Blair has continued its investment banking growth in Europe with the opening of an office in Madrid and the addition of investment banking capabilities to the firm’s office in Zurich.“William Blair’s investment banking momentum in Europe...
Read Story
December 14, 2022, 06:00 AM
|
Tidal Financial Group, a leading ETF investment and technology platform, announced the listing of the Senior Secured Credit Opportunities ETF, an actively managed secured credit fund managed by Gateway Credit Partners. The fund seeks to generate...
Read Story
December 07, 2022, 07:52 AM
|
Kroll announced the acquisition of Appraisal & Valuation Consultants LTD (AVC), an independent firm that specializes in the valuation of oil, gas, petrochemical, chemical, power, mining, metals processing and offshore facilities for insurance and...
Read Story
December 07, 2022, 07:05 AM
|
Armstrong Teasdale announces that USFN, a national trade association representing America’s leading mortgage banking attorneys, has named the firm among its 2022 Award of Excellence recipients.Award of Excellence recipients are USFN members in good...
Read Story
December 06, 2022, 07:00 AM
|
The M&A Advisor announced the winners of the 21st Annual M&A Advisor Awards on Tuesday November 16, 2022. The Awards Gala is the premier celebration of the year for the industry's leading M&A Dealmakers attracting the industry's leading M&A...
Read Story
December 05, 2022, 07:00 AM
|
Capstone Partners was named "Middle Market Investment Banking Firm of the Year" by The M&A Advisor at their 21st Annual M&A Awards in New York, NY on November 15, 2022. This marks Capstone's third esteemed 'Investment Bank of the Year' award earned...
Read Story
December 01, 2022, 07:00 AM
|
Audax Private Debt announced that, as Administrative Agent and Joint Lead Arranger, it provided a unitranche credit facility to support Odyssey Investment Partners’ acquisition of Magna Legal Services.Headquartered in Philadelphia, Magna provides...
Read Story
December 01, 2022, 07:00 AM
|
Phoenix American (“Phoenix”) announced its new client partnership with real estate investment fund sponsor Ashford Inc. Phoenix will fulfill the agent and back-office operational needs of Ashford with its industry-leading investor services platform...
Read Story
December 01, 2022, 05:00 AM
|
Fordham University director of athletics Ed Kull announced a partnership with Moritt Hock & Hamroff LLP to advise the Rams with Name, Image, and likeness (NIL) matters for their student-athletes. "We are thrilled to be working with Dan Lust and...
Read Story
November 23, 2022, 07:19 AM
|
ABL Advisor's offices will be closed on Thursday, November 24 and Friday, November 25 in observance of Thanksgiving. We will return with our Daily eNews Blast on Monday, November 28.We wish all of our readers a safe and happy Thanksgiving holiday!
Read Story
November 23, 2022, 07:00 AM
|
Portage Point Partners announced the launch of a Transaction Advisory Services (TAS) practice. The TAS practice will be led by industry veterans Travis Pittman and Sandy Ryan who will be responsible for the growth and development of the new practice...
Read Story
November 22, 2022, 08:00 AM
|
Great Elm Capital Corp. (GECC), a business development company, today announced that it has launched Great Elm Healthcare Finance, LLC (“GEHF”) with an affiliate of Berkadia Commercial Mortgage, LLC (“Berkadia”) as its strategic minority partner. Led...
Read Story
November 14, 2022, 08:00 AM
|
Cohn & Dussi has been named to the inaugural Great Places to Work list by The Secured Lender.The Secured Lender is published by SFNet, an industry organization that serves as a key resource for professionals in the secured finance industry. The...
Read Story
November 10, 2022, 07:44 AM
|
Solifi announced the release of its latest version of Solifi Asset-Based Lending (ABL) software, which includes several new and enhanced features designed to improve the lender and borrower experience through self-service functionality, gain insights...
Read Story
November 09, 2022, 07:55 AM
|
Solifi, a global fintech software partner for secured finance, announced its Solifi Asset-Based Lending (ABL) software-as-a-service (SaaS) solution on its open finance platform now supports more than $1B in loans outstanding for lenders globally....
Read Story
November 08, 2022, 08:03 AM
|
Castlelake announced that it completed the final closing of Castlelake Income Opportunities II, L.P. (“CIO II” or the “Fund”), with approximately $782 million in capital commitments. CIO II, an asset-based private credit product, is the successor to...
Read Story
November 04, 2022, 07:40 AM
|
Moritt Hock & Hamroff has received national recognition in the 2023 "Best Law Firms," rankings by U.S. News & World Report and Best Lawyers.The firm has been ranked as a Tier 1 in the 2023 U.S. News & World Report - Best Lawyers "Best Law Firms" list...
Read Story
November 04, 2022, 07:22 AM
|
EisnerAmper announced that the partners and colleagues of La Jolla, California-based accounting and advisory firm Lindsay & Brownell CPAs & Advisors (“LB Advisors”) are to join EisnerAmper in a transaction expected to close in December of 2022....
Read Story
November 04, 2022, 07:09 AM
|
eCapital Corp. (“eCapital”), a leading finance provider for businesses across North America and the U.K., was named to Inc. Business Media’s inaugural Power Partner Awards. The program honors B2B organizations across the globe that have proven track...
Read Story
November 04, 2022, 07:00 AM
|
Monroe Capital closed a $502.5 million term debt securitization known as Monroe Capital MML CLO XIV, LTD. The term financing was Monroe's second new CLO completed in 2022 and is secured by a portfolio of middle market senior secured loans.Monroe sold...
Read Story
November 03, 2022, 08:06 AM
|
Rosenthal & Rosenthal completed several transactions, including an asset based lending deal and three deals for Rosenthal’s newest division, Pipeline, serving e-commerce and direct-to-consumer businesses. The funding and financing facilities will...
Read Story
November 02, 2022, 07:46 AM
|
Nuveen, the investment manager of TIAA, entered into a definitive agreement to acquire a controlling interest in Arcmont Asset Management, a leading European private debt investment manager with $21 billion in committed capital. The acquisition will...
Read Story
October 31, 2022, 07:45 AM
|
Fortress Investment Group was ranked as the 2nd fastest-growing brand among 50 alternative investment managers included in the second edition of the Alts 50 report, published by Peregrine Communications. The report provides a qualitative and...
Read Story
October 31, 2022, 06:00 AM
|
The third quarter Phoenix Management “Lending Climate in America” survey results reveals the impact inflation is having on global economic conditions and consumer spending.Phoenix’s Q3 2022 “Lending Climate in America” survey asked lenders to...
Read Story
October 28, 2022, 07:44 AM
|
Hilco Global has issued a timely report that explores the current state of the US economy with a narrowed focus on the rise of consumer debt and how that will inform near-term receivables planning for businesses and creditors. A Rising Tide of...
Read Story
October 27, 2022, 07:43 AM
|
Gulp Data, a new fintech enterprise, is changing the capital acquisition game for startups with the launch of its data-as-an-asset financing model. Unlike conventional and venture debt that too often results in dilution, lost control and exorbitant...
Read Story
October 27, 2022, 07:20 AM
|
nFusion Capital provided 39 new factoring, inventory finance, and asset-based lending facilities during the third quarter of 2022 for an aggregate of $14 million, and $102 million in receivables purchased. With an average days to close of 17, the...
Read Story
October 21, 2022, 07:07 AM
|
EisnerAmper announced that the colleagues of Maryland-based firm The Hoffman Group, a Certified Public Accounting and advisory firm, have joined EisnerAmper.Founded in 2017, The Hoffman Group is a full-service accounting and business consulting firm...
Read Story
October 21, 2022, 07:06 AM
|
Citizens M&A Advisory served as the exclusive financial advisor to Greenshades Software in a growth recapitalization led by Gearbox Capital, LLC and Waypoint Capital. As part of the transaction, existing investors, including SFW Capital Partners...
Read Story
October 18, 2022, 07:00 AM
|
Main Street Capital Corporation announced the following recent activity in its private loan portfolio. During the third quarter of 2022, Main Street originated approximately $269.9 million in new commitments in its private loan portfolio across eight...
Read Story
October 14, 2022, 07:50 AM
|
SLR Investment Corp. has entered into a joint venture agreement with SunStone Senior Credit L.P. (the “Investor”) to create SLR Senior Lending Program LLC (“SSLP”). The joint venture is expected to invest primarily in senior secured cash flow...
Read Story
October 13, 2022, 07:55 AM
|
Veteran private equity fund manager Richard Waryn has joined forces with transportation and logistics entrepreneur Todd Harman and M&A specialist Michael Seeley to form Ridgefield Partners LLC, a top-tier mergers & acquisitions and strategic advisory...
Read Story
October 13, 2022, 07:47 AM
|
Golub Capital BDC originated $176.7 million in new middle-market investment commitments during the three months ended September 30, 2022. Approximately 91% of the new middle-market investment commitments were one stop loans, 7% were senior secured...
Read Story
October 12, 2022, 07:49 AM
|
Middle market private companies in the Golub Capital Altman Index experienced year-over-year revenue growth of 12% and earnings decline of 2% during the first two months of the third quarter of 2022. This compares to year-over-year revenue growth of...
Read Story
October 11, 2022, 07:58 AM
|
Gordon Brothers and TAGeX Brands, one of the nation’s largest liquidation resources for restaurants, food service operators, supermarkets and convenience stores, have formed a strategic alliance to provide comprehensive real estate and equipment...
Read Story
October 07, 2022, 08:00 AM
|
Solifi announced MyTechMag named Solifi as one of the world’s top 10 banking technology solution providers in 2022. Solifi was recognized for its innovative fintech solutions built on the company’s software-as-a-service (SaaS)-based open finance...
Read Story
October 05, 2022, 07:47 AM
|
IR2 Holdings, LLC (“IR2”) announced its formal launch of a specialized joint venture between Alan Kestenbaum, Gaurav Mehta and funds and accounts managed by Oaktree Capital Management, L.P. (“Oaktree”), leveraging a unique collection of expertise...
Read Story
October 04, 2022, 07:51 AM
|
Berkeley Research Group (BRG) announced the creation of an integrated Strategic Performance Solutions (SPS) group within the firm's Corporate Finance practice. Bringing together BRG's Private Equity PortCo Services, Finance Excellence and Performance...
Read Story
October 04, 2022, 07:45 AM
|
National Funding, one of the largest U.S. specialty finance companies serving small- and medium-sized businesses, closed its second asset-backed securitization (ABS) for $125 million. Guggenheim Securities served as sole structuring advisor and the...
Read Story
October 04, 2022, 07:33 AM
|
The law firm of Moritt Hock & Hamroff LLP announced Leslie A. Berkoff, Ted A Berkowitz, Michael Cardello III, James P. Chou, Robert S. Cohen, Theresa A. Driscoll, Andrew B. Eckstein, Robert M. Finkel, Robert J. Fryman, Stephen J. Ginsberg, Henry L....
Read Story
September 30, 2022, 07:16 AM
|
Solifi, a global fintech software partner for secured finance, announced the release of its latest version of Solifi Wholesale Finance SaaS solution, which includes several new automated features to better manage inventory audits, provide real-time...
Read Story
September 29, 2022, 07:55 AM
|
Austin Financial Services (“AFS”), a Los Angeles, CA based provider of asset-based lending solutions to small and medium sized businesses for over 40 years, closed a $115 million debt recapitalization with two lenders, lowering the company’s overall...
Read Story
September 27, 2022, 07:57 AM
|
Global M&A Network has named A&G Real Estate Partners Co-President Andy Graiser to its 2022 list of “Top 100 Restructuring Professionals.” The ninth-annual “Distinction in Deal-Making Award” recognizes “highly respected, successful and innovative”...
Read Story
September 22, 2022, 07:57 AM
|
Mitsubishi HC Capital Canada announced it has reached $2 billion in financing assets. Founded as CLE Leasing in Grand-Mère, Québec in 1979, the company has grown from a small, local finance shop to become a pan-Canadian specialty finance powerhouse...
Read Story
September 22, 2022, 07:45 AM
|
Wintrust Business Credit announced plans to expand its geographic reach from a regional provider to a national ABL platform.
Since its founding in 2008, WBC has provided best-in-class asset-based lending solutions with a focus on middle-market...
Read Story
September 20, 2022, 08:00 AM
|
Oaktree Specialty Lending Corporation (“OCSL”)and Oaktree Strategic Income II, Inc. (“OSI II”) entered into an agreement to merge together with OCSL as the surviving company, subject to stockholder approval and customary closing conditions. The...
Read Story
September 20, 2022, 07:35 AM
|
InterVest Capital Partners, formerly known as Wafra Capital Partners, a leading investment manager in structured finance verticals and a pioneer of Sharia-compliant investment products, announced a major rebrand.InterVest Capital Partners, previously...
Read Story
September 19, 2022, 07:40 AM
|
Solifi announced it was named to the 2022 IDC FinTech Rankings. The 19th annual vendor ranking recognizes the world’s top 100 leading hardware, software, and service providers to the financial services industry.“We are honored to be recognized by IDC...
Read Story
September 13, 2022, 07:59 AM
|
eCapital announced the creation of a new division, eCapital Healthcare, dedicated to serving clients within the healthcare industry with fast and flexible financial solutions designed for their unique needs. The new division will be led by 20+ year...
Read Story
September 13, 2022, 07:55 AM
|
FG Financial Group announced the expansion of its growth strategy through the formation of a merchant banking division. FG Financial is a reinsurance and asset management holding company focused on collateralized and loss capped reinsurance and...
Read Story
September 12, 2022, 07:50 AM
|
Deerpath Capital Management reported investment activity of $3 billion into US-headquartered companies backed by private equity sponsors over a 12-month period ending June 30, 2022.Deerpath invested in more than 100 businesses across a diverse set of...
Read Story
September 06, 2022, 08:04 AM
|
White Oak Global Advisors announced that the firm, together with its financing affiliates, provided over $1 billion in loans across all platforms between January 1 and June 30, 2022. The total dollar amount accounts for the combined value of 45...
Read Story
August 31, 2022, 08:00 AM
|
Solifi announced the release of its latest version of Solifi Asset-Based Lending (ABL) software, which includes several new and enhanced features designed to provide a richer experience for customers and lenders, mitigate risk, and streamline...
Read Story
August 31, 2022, 07:55 AM
|
Fifth Third Private Bank, a division of Fifth Third Bank announced the release of its collaborative research with the National Center for the Middle Market, housed at The Ohio State University Max M. Fisher College of Business. The research provides...
Read Story
August 31, 2022, 07:00 AM
|
Mizzen Capital, a New York based private-debt, SBIC fund, has deployed AIO Logic's loan and portfolio management platform, AXIS.AXIS by AIO Logic is an end-to-end loan and portfolio management platform designed for the complex needs of SMB and middle...
Read Story
August 29, 2022, 07:22 AM
|
MetLife Investment Management (MIM), the institutional asset management business of MetLife, originated $9.2 billion in private placement debt and private structured credit for the first half of 2022 across 137 transactions. This was a record for MIM...
Read Story
August 26, 2022, 08:05 AM
|
Best Lawyers in America has recognized nine Moritt Hock & Hamroff attorneys in its 2023 edition. Six attorneys were included in The Best Lawyers in America and three attorneys were included in The Best Lawyers: Ones to Watch in America.Best Lawyers...
Read Story
August 23, 2022, 07:50 AM
|
Revelation Machinery, which specializes in the Manufacturing and Industrial industries with services in Auctions/Liquidations, Asset Recovery and Remarketing, was recognized as one of the fastest-growing private companies in the US. Named one of the...
Read Story
August 23, 2022, 07:41 AM
|
Commercial Finance Partners announced the expansion of it direct funding programs. The company is providing accounts receivable financing for small businesses seeking cash flow solutions; typically focusing on smaller businesses who sometimes get...
Read Story
August 22, 2022, 07:05 AM
|
Solifi, a global fintech software partner for secured finance, announced the launch of its software-as-a-service (SaaS)-based lease and loan pricing solution for the U.S. equipment and automotive finance industries. The SaaS version of Solifi’s...
Read Story
August 16, 2022, 07:43 AM
|
EisnerAmper announced that the partners and colleagues of Minneapolis-based accounting and advisory firm Lurie LLP will be joining EisnerAmper in a transaction anticipated to close in September of 2022.With more than 200 employees, 24 partners, and...
Read Story
August 16, 2022, 07:30 AM
|
Phoenix announced that Brian Gleason, Senior Managing Director & Shareholder at Phoenix Management Services, has been named a Top Restructuring Consultant by Global M&A Network. The most accomplished, influential, and innovative consultants...
Read Story
August 15, 2022, 07:47 AM
|
Solifi, a global fintech software provider for secured finance, announced British Car Auctions (BCA) extended its Solifi platform contract to support the expansion of its wholesale finance offering.The BCA Partner Finance service supports dealers...
Read Story
August 10, 2022, 07:40 AM
|
The July 2022 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months, which generally correspond to the second...
Read Story
August 08, 2022, 07:48 AM
|
Hilco Corporate Finance (HCF), a boutique investment bank, is accelerating its growth by re-imagining corporate finance advisory for the middle market.Over the past 12 months, HCF has doubled its size and expanded its geographic presence – first with...
Read Story
August 05, 2022, 08:05 AM
|
AIO Logic announced the launch of their AXIS commercial lending platform. AXIS by AIO Logic provides commercial lenders with increased efficiency and accuracy throughout the loan life cycle by providing them with unprecedented automation and...
Read Story
August 05, 2022, 07:21 AM
|
Balbec Capital, a global alternative asset manager with over $11 billion in platform assets, announced the closing of its fifth global flagship fund, InSolve Global Credit Fund V, L.P. (the “Fund” or “IGCF V”), with total commitments of over $1.5...
Read Story
August 04, 2022, 07:10 AM
|
Owl Rock, a division of Blue Owl Capital Inc. announced that certain of its funds have made an initial equity commitment to Amergin Asset Management, a newly formed portfolio company created to invest in a leasing platform focused on railcar and...
Read Story
August 03, 2022, 07:40 AM
|
Castlelake, a global alternative investment manager with approximately 17 years of experience investing in asset-rich opportunities, and Aequum Capital Founder, LLC ("Aequum"), a tech-enabled specialty finance lender, announced a partnership...
Read Story
|
Encina Private Credit (“EPC”) announced a significant expansion to its capital base with $500 million in incremental capital commitments. This capital will enable the platform to scale its first-out, enterprise value loan product in partnership with...
Read Story
|
A&G Real Estate Partners was named “Real Estate Restructuring Firm of the Year” at Global M&A Network’s 14th Annual Turnaround Atlas Awards. The July 21 announcement marked the third consecutive year in which the Melville-based advisory firm has...
Read Story
|
FTI Consulting was named to Forbes magazine’s 2022 list of America’s Best Employers for Women.Commenting on the recognition, Holly Paul, Chief Human Resources Officer at FTI Consulting, said, “We strive to ensure FTI Consulting is an employer of...
Read Story
|
Versana announced that industry veteran David Kamp has joined the firm as Chief Technology Officer (CTO). In this role, Kamp is responsible for Versana’s technology strategy, while building and managing its engineering and development teams. He will...
Read Story
|
Red Mountain Capital Partners LLC (“Red Mountain”) announced the launch of Red Mountain Capital Advisors LLC (“RMCA”) and Red Mountain Securities LLC (“RMS”), an investment banking platform focused exclusively on providing advisory services for...
Read Story
|
The Global M&A Network announced the winners of the 14th Annual Turnaround Atlas Awards, naming national interim management and advisory firm SierraConstellation Partners (“SCP”) as the winner of “Private Equity Deal of the Year” for their work with...
Read Story
|
Specialty Finance Startup Company established in Buffalo, New York closes $5MM round of equity and $35MM of funding to support Small to Medium Sized businesses nationwide. Culain Capital Management (Culain) officially launched a new Specialty...
Read Story
|
B. Riley Financial earned multiple awards at the 14th Annual Turnaround Atlas Awards. Presented by Global M&A Network, the Turnaround Atlas Awards recognize the best value-creating transactions, outstanding firms, professionals and leaders for their...
Read Story
|
Squire Patton Boggs won the ‘Turnaround of the Year Award (large)’ for its innovative work on the Ferrellgas Partners pre-packaged chapter 11 restructuring.The Turnaround Atlas Awards, presented by Global M&A Network, recognize the best...
Read Story
|
Phoenix IB acted as the exclusive financial advisor and investment banker to Polymeric Resources Corporation in arranging, structuring, and negotiating a refinancing of $30 million through Citizens. The new refinancing consists of a Revolving Line of...
Read Story
|
Solifi, a global fintech software partner for secured finance, announced that Mountain Ridge Capital (MRC) selected and recently deployed Solifi’s asset-based lending (ABL) software solution. A start-up ABL independent with seasoned finance...
Read Story
|
SSG Capital Advisors (“SSG”) acted as the investment banker to Panhandle Oilfield Services, Inc, a portfolio company of Argosy Private Equity (“Argosy”), in the placement of a $12 million asset-based credit facility. The credit facility was used to...
Read Story
|
KKR announced the final close of KKR Asset-Based Finance Partners (“ABFP” or the “Fund”), KKR’s first fund dedicated to asset-based finance investments “ABF.” The approximately $2.1 billion fund will commit capital globally to privately originated...
Read Story
|
Golub Capital BDC originated $449.6 million in new middle-market investment commitments during the three months ended June 30, 2022. Approximately 93% of the new middle-market investment commitments were one stop loans, 2% were senior secured loans...
Read Story
|
John Hancock Investment Management, a company of Manulife Investment Management, and Marathon Asset Management announced the launch of John Hancock Asset-Based Lending Fund (the fund). The fund is subadvised by Marathon Asset Management (Marathon), a...
Read Story
|
Providing companies and their advisors with fast access to reliable working capital solutions has always been at the center of Gibraltar Business Capital’s (“GBC”) mission.Gibraltar Business Capital is taking that commitment a step further by...
Read Story
|
The Merchant Opportunities Fund, a Vancouver-based private debt fund focused on investing in specialty finance portfolios, has increased its revolving debt facility with the Bank of Montreal ("BMO"). The facility now consists of a $27.5 million...
Read Story
|
HPD Lendscape has evolved its brand to reflect the company’s market position and progressive approach to the financial sector. As part of this initiative, the business has changed its name from HPD Lendscape to Lendscape – matching the name of its...
Read Story
|
SC&H Capital acted as the exclusive investment banker to CCX, Inc., dba Braeburn Alloy Steel (“Braeburn”), in the sale of substantially all of its assets to a G.O. Carlson subsidiary (“Carlson”) in the United States Bankruptcy Court for the District...
Read Story
|
H.I.G. Capital ("H.I.G."), announced that its portfolio company, Riveron Consulting, has acquired Clermont Partners, a women-owned consultancy specializing in environmental, social, and governance (“ESG”) communications and strategy, investor...
Read Story
|
Sumitomo Mitsui Banking Corporation (SMBC) President and CEO Makoto Takashima announced that the bank has entered into a strategic alliance with Marathon Capital LLC for collaboration in ESG-related space.Marathon Capital, headquartered in Chicago...
Read Story
|
Citizens M&A Advisory served as the financial advisor to New State Capital on its acquisition of Patuxent Roofing and Contracting, an independent provider of re-roofing installation and services.
New State has the ability to invest up to $100...
Read Story
|
Wingspire Capital Holdings announced an agreement to acquire Liberty Commercial Finance LLC (“Liberty”). Wingspire Capital is a portfolio company of Owl Rock Capital Corporation, a publicly traded business development company that is...
Read Story
|
Mitsubishi HC Capital America achieved record results from its Technology Finance team for fiscal year 2021, ending March 31, 2022. Offering supply-chain financing to value-added resellers (VARs) specifically in the technology industry, the team...
Read Story
|
Mountain Ridge Capital ("MRC"), an asset-based commercial finance company, announced its official launch.Strategically backed with equity from Arena Investors, Mountain Ridge Capital is focused on originating, underwriting and managing asset-based...
Read Story
|
Deerpath Capital Management announced the launch of its newest international office in London, England.The office, located in Berkeley Square, will serve as Deerpath's European headquarters, and is led by private markets specialist Tania Kutner, Head...
Read Story
|
B. Riley Financial has been recognized in three individual categories of The M&A Advisor's 16th Annual Turnaround Awards, demonstrating its cross-platform leadership in middle market investment banking, restructuring and the retail industry.
B....
Read Story
|
KKR announced that it is partnering with Andrew K. “Andy” Silvernail, the former Chairman and CEO of Madison Industries and IDEX Corporation, to pursue new acquisition opportunities.
Silvernail will work alongside KKR as an Executive Advisor to...
Read Story
|
SellersFunding, a fintech provider for ecommerce sellers, announced the addition of two new products to its robust lineup of working capital products, Invoice Factoring and Purchase Order (PO) Financing.
Invoice Factoring and PO Financing support...
Read Story
|
Percent, the platform powering the future of private markets, and Anzen, the first ever protocol for private credit protection, announced the launch of a new risk mitigation tool that offers accredited investors on Percent's platform seamless access...
Read Story
|
EisnerAmper announced that the partners and staff of New York City-based accounting and advisory firm Raich Ende Malter & Co. LLP (“REM”) will be joining EisnerAmper in a transaction anticipated to close in the summer of 2022.Founded in 1972, REM has...
Read Story
|
Victory Park Capital announced the final close of its latest fundraise for its Asset Backed Opportunistic Credit strategy (the “Fund”). The Fund is oversubscribed at $2.4 billion of committed and investable capital, including separately managed...
Read Story
|
EQ Riskfactor, a global provider of risk management software for the commercial finance market (part of Equiniti Group), unveil its new partnership with Solifi. A global fintech software partner, Solifi provides market-leading, mission-critical...
Read Story
|
SC&H Capital, a leading investment bank specializing in M&A advisory, announced that its client, Marine Technologies, Inc. (“MTI”) has sold its marine construction operation to Ballard Marine Construction LLC (“Ballard”) via an asset sale. MTI was...
Read Story
|
Business development companies (BDCs) have periodically evolved since their creation in the late 1980s, with the advent of perpetual non-traded BDCs being the most recent example, Fitch Ratings says. Continuous fundraising in perpetual non-traded...
Read Story
|
Nexseer Capital announced that the management team of W. Scott McCullum (President), Jonathan Albin (Chief Operating Officer) and Robert Davis (Executive Vice President) have acquired majority ownership of the company. The senior management team...
Read Story
|
Encina Equipment Finance (EEF) announced it has provided a $15 million equipment lease line to a specialty materials company for the installation of a new manufacturing line. EEF was represented by Reed Smith LLP.
For more equipment finance and...
Read Story
|
SLR Business Credit has announced that its subsidiary Fast Pay Partners has been rebranded as SLR Digital Finance (“SLRDF”). SLRDF provides asset-based loans and factoring facilities to ad tech and digital media businesses throughout the United...
Read Story
|
SSG Capital Advisors (“SSG”) acted as the investment banker to Listen Technologies Corporation in the placement of a financing package, which enabled Listen to refinance existing indebtedness and will provide additional capital for growth. The...
Read Story
|
Angelo Gordon, a $50 billion alternative investment firm focused on credit and real estate investing, announced the final close of the AG Credit Solutions Fund II, L.P. (the “Fund”) with $3.1 billion of equity commitments, exceeding the Fund’s $3.0...
Read Story
|
CohnReznick launched a new awards program to recognize U.S.-based businesses that are “changing the game” through their commitment to environmental, social, and governance (ESG) strategies and practices.The Gamechangers in ESG Awards program...
Read Story
|
Altimer Capital launched a new alternative asset management firm targeting credit opportunities in the rapidly growing area of digital transformation. The new private credit and structured equity firm will offer innovative and customized financing...
Read Story
|
Crestmark, the Commercial Finance Division of MetaBank, N.A., secured a total of $12,801,160 in ABL/factoring financial solutions for 11 new clients; Crestmark Equipment Finance provided $10,080,680 in 11 new large ticket transactions and $2,320,351...
Read Story
|
Monroe Capital announced the final close of its Monroe Capital Opportunistic Private Credit Fund I (“Fund”) with approximately $500 million of investable capital, including targeted fund leverage. The Fund has limited partner commitments from over 75...
Read Story
|
BlackRock secured more than $800 million in initial commitments toward its $1 billion target for the BlackRock Impact Opportunities Fund. This new fund, the first multi-alternatives strategy of its kind, is already beginning to invest in businesses...
Read Story
|
Deerpath Capital Management announced the closing of Deerpath CLO 2022-1, a $375 million collateralized loan obligation (CLO).Deerpath CLO 2022-1 represents the fifth CLO issued by Deerpath since 2018 and brings the firm's total CLO assets under...
Read Story
|
William Blair announced the launch of its Private Capital Advisory practice. The practice expands William Blair’s robust financial sponsor advisory platform to provide financial sponsor clients with highly relevant and differentiated strategic advice...
Read Story
|
Fourshore Partners announced its acquisition of Celtic Capital Corporation.With an appetite for the more complex transactions, Celtic Capital has a history of success in crafting creative, flexible financing solutions with no financial covenants. As...
Read Story
|
Yieldstreet launched the Enhanced Crypto Fund which offers crypto investors an easier way to modernize their portfolio to include crypto and blockchain assets.“Yieldstreet is all about access that gives you the potential to help build a more stable...
Read Story
|
Ritchie Bros. Auctioneers announced its wholly owned indirect subsidiary, Ritchie Bros. UK Holdings Ltd. (RB Purchaser) is discontinuing the Phase 2 review by the UK Competition and Markets Authority (the CMA). The Sale and Purchase Agreement dated...
Read Story
|
Monroe Capital announced the final close of its 2022 Monroe Capital Private Credit Fund IV (“Fund”) with $4.8 billion of investable capital, including targeted fund leverage and separately managed accounts investing alongside the Fund. The Fund has...
Read Story
|
Citizens M&A Advisory served as the exclusive financial advisor to DSG Consulting, LLC on its sale to Corporate Visions, Inc., a portfolio company of The Riverside Company.DSG is a technology-enabled growth consultancy that helps B2B companies...
Read Story
|
The Disputes and Investigations practice at Alvarez & Marsal (A&M) published Threatscape 2022, that examines three major fraud, compliance, regulatory risks and investigations trends the firm expects to see in Asia and provides mitigation strategies...
Read Story
|
Gordon Brothers, the global advisory, restructuring and investment firm, has received $300 million in financing from Canada Pension Plan Investment Board (CPP Investments) through its subsidiary CPPIB Credit Investments Inc., increasing the firm’s...
Read Story
|
Monroe Capital has been recognized by Global M&A Network as the Small Mid-Markets Lender of the Year. Award winners were honored at the virtual Americas M&A Atlas Awards Gala held on January 29th.This award recognizes the firm’s notable...
Read Story
|
White Oak Global Advisors announced its adoption of Impact Rate of Return®, a comprehensive impact analytics system provided by Global Impact LLC.Global Impact, led by its President Howard W. Buffett, will guide the effort as White Oak’s newest...
Read Story
|
Newly-formed Meriwether Group Capital (MWGC) launched this month to make commercial loans available to businesses that fall outside the criteria required by traditional lenders. The MWGC Hero Fund focuses on small to mid-sized companies that meet the...
Read Story
|
Yieldstreet, a leading digital alternative investment platform driven to help millions of people unlock access to previously unattainable investments, is launching a platform that allows investors the unique opportunity to invest in individual...
Read Story
|
Golub Capital BDC originated $306.3 million in new middle-market investment commitments during the three months ended March 31, 2022. Approximately 94% of the new middle-market investment commitments were one stop loans, 2% were senior secured loans...
Read Story
|
TCG BDC announced that it will change its name to Carlyle Secured Lending effective April 11th, 2022.“We are pleased to announce the renaming of TCG BDC as Carlyle Secured Lending. Our new name best reflects Carlyle’s twenty-year investment heritage...
Read Story
|
National Loan Exchange, a division of Heritage Global and a leading loan sale advisor of charged off and nonperforming asset portfolios, announced that Ashley Arens-Yager has joined its team as Assistant Vice President – Sale Operations, where she...
Read Story
|
Big Shoulders Capital and Iroquois Industrial Group have formed a partnership to acquire the assets of Benda Manufacturing, a leader in conveyor and product handling systems for the food industry and other industries requiring integrated production...
Read Story
|
AlixPartners announced a strategic alliance with Cypress International, a Washington, D.C.-based consultancy specializing in helping industry support the U.S. Department of Defense (DoD) and other federal-government departments and agencies. The...
Read Story
|
Golub Capital acted as Left Lead Arranger and Administrative Agent on a $1.3 billion unitranche facility to finance CVC Capital Partners’ acquisition of a controlling interest in Radwell International, Inc. from Greenbriar Equity Group. Greenbriar...
Read Story
|
SLR Investment Corp. announced the closing of the previously announced merger with SLR Senior Investment Corp. (“SUNS”), with SLRC as the surviving company. The combined company will operate as SLR Investment Corp. and continue to trade on the NASDAQ...
Read Story
|
Paul Hastings significantly strengthened its position among elite Wall Street firms with today’s announcement that a high-profile team of 18 financial restructuring partners has joined its New York and Los Angeles offices.The team is led by...
Read Story
|
In November 2021, SG Credit Partners acquired Stonegate Capital and announced its entry into asset-based lending with a focus on high-growth consumer products. The result of the combined companies is the ability to deliver a complete range of...
Read Story
|
FTI Consulting announced the Company has been named to Forbes magazine’s list of America’s Best Management Consulting Firms for the seventh consecutive year, recognized in 13 sectors and functional areas.Commenting on the recognition, Steven H. Gunby...
Read Story
|
A decrease in first-lien term loan recoveries, driven by the pandemic, has begun to reverse, with 2021 ultimate recoveries reverting back to historical levels, according to a new Fitch Ratings report.“The coronavirus pandemic, resulting EBITDA...
Read Story
|
eCapital announced the launch of the Five Star Load Board and Five Star Dispatch platforms under the Five Star brand. These tools have been designed specifically for the underserved owner-operator, small fleet and freight brokerage segments as part...
Read Story
|
CIT, a division of First Citizens Bank, is launching a new lending and leasing vertical focused on financing fleet golf cars, turf (grounds care) equipment, utility vehicles and similar equipment.Golf & Turf is part of CIT’s Business Capital group...
Read Story
|
Pinnacle Financial Partners has formed a debt capital markets group that will house its existing loan syndications team and future efforts in the bond capital markets. In addition, Pinnacle has created a new specialty group to provide financing to...
Read Story
|
Monroe Capital closed a $457 million term debt securitization known as Monroe Capital MML CLO XIII, LTD. The term financing was Monroe’s eighth new issue CLO completed since 2018 and is secured by a portfolio of middle market senior secured...
Read Story
|
SLR Investment Corp. and SLR Senior Investment Corp. announced that each company obtained stockholder approval of the proposals related to the previously announced merger of SLRC and SUNS (the “Merger”) at their respective special meetings of...
Read Story
|
Amsterdam-based Hilco Industrial Acquisitions, B.V., an operating company of U.S.-based Hilco Global, announced the strategic acquisition of all assets at ThyssenKrupp Heavy Plate Rolling Mill facility located in Duisburg-Hüttenheim, Germany. The...
Read Story
|
The first quarter Phoenix Management “Lending Climate in America” survey results reveals the majority of lenders anticipate geopolitical tension and an increase in interest rates to be the biggest economic headwind in 2022.Phoenix’s Q1 2022 “Lending...
Read Story
|
Businesses are investing in technology to expand online operations and facilitate remote work during the pandemic. But many of those same businesses are also eager to see their employees return to the workplace in greater numbers over the long...
Read Story
|
Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA), directed the Agency to provide additional deferment of principal and interest payments for existing COVID Economic Injury Disaster Loan (EIDL) program Borrowers for a...
Read Story
|
Utica Equipment Finance completed three transactions totaling $5,150,000 in the first half of March.
$1,250,000 capital lease secured by a hypercar and support vehicles to transport and deliver the vehicle. Utica was able to provide them working...
Read Story
|
Alvarez & Marsal’s (A&M) Healthcare Industry Group has launched a Public Health practice. This practice will work with national, state and local governments, not for profit and community-based healthcare organizations to meet evolving healthcare...
Read Story
|
MetLife Investment Management (MIM), the institutional asset management business of MetLife, originated $15.6 billion in private placement debt and private structured credit across 247 transactions in 2021. This included $3.0 billion of investments...
Read Story
|
Alvarez & Marsal (A&M) continues to expand its Healthcare Industry Group offerings with the launch of its Human Capital and Workforce Management Practice.
Led by Bianca A. Briola, the practice will focus on developing strategic solutions for...
Read Story
|
CBRE Group announced a decision to discontinue most of its business in Russia in response to the horrific attack on Ukraine. The company has begun the process of exiting its office in Moscow, which provides leasing, investment, property management...
Read Story
|
Great Elm Capital Corp. (GECC), a business development company, launched Great Elm Utica, LLC (“GEU”), a joint venture between GECC and Utica Leaseco (“Utica”), to co-invest in proprietary equipment financing transactions sourced by Utica.Founded in...
Read Story
|
North Mill Equipment Finance (NMEF) announced the closing of its fifth commercial equipment backed securitization (ABS), NMEF Funding 2022-A (NMEF 2022-A). The $371,070,000 transaction represents North Mill’s largest ABS issuance to date, surpassing...
Read Story
|
Monroe Capital Corporation BDC released its fourth quarter and full year 2021 results.
Fourth Quarter 2021 Financial Highlights:
Paid quarterly dividend of $0.25 per share
Current annual cash dividend yield to shareholders of approximately...
Read Story
|
Monroe Capital was selected as the recipient of two Private Debt Investor (“PDI”) awards, including the 2021 Senior Lender of the Year and Lower Mid-Market Lender of the Year, in the Americas.PDI is published by PEI, the only global B2B information...
Read Story
|
Hildene Capital Management, an asset management firm focused on distressed and event-driven opportunities within credit, has entered into a strategic relationship with Leucadia Asset Management (“LAM”), a division of Jefferies Financial Group Inc. In...
Read Story
|
Horizon Technology Finance announced that Horizon Secured Loan Fund I LLC, Horizon's wholly-owned subsidiary ("HSLF"), has amended its senior secured debt facility with a large U.S. based insurance company. Under the amended agreement, the commitment...
Read Story
|
The Maurice A. Deane School of Law at Hofstra University has named Nicholas Tramposch as the recipient of the 2021-2022 Moritt Hock & Hamroff Business Law Honors Fellowship and Rachel November as the recipient of the 2021-2022 Marc L. Hamroff Annual...
Read Story
|
Monroe Capital announced record investment activity for 2021. The firm closed in excess of $6.3 billion in new financing commitments across 131 separate transactions. Monroe’s assets under management increased by 35% to $12.7 billion as of December...
Read Story
February 28, 2022, 08:00 AM
|
Configure Partners announced the successful completion of a financing in support of Hidden Harbor Capital Partners’ (“Hidden Harbor”) acquisition of Superhero Fire Protection, LLC (“SuperHero”). SuperHero is a leading Fire, Life and Safety installer...
Read Story
February 25, 2022, 05:00 AM
|
FTI Consulting released the findings of its 2022 U.S. Loan Market Survey, which provides insight into the impact of COVID-19, inflation and other economic trends on the U.S. loan industry, along with expectations for leveraged credit market...
Read Story
February 23, 2022, 08:00 AM
|
Configure Partners completed a financing for 1435 Rail Equipment Leasing and Maintenance, Inc. (“RELAM”), a portfolio company of an affiliate of Paceline Equity Partners. RELAM is the leading provider of maintenance-of-way (“MOW”) equipment, and...
Read Story
February 23, 2022, 07:00 AM
|
Jack Henry & Associates announced that Independent Financial has expanded its collaboration with Jack Henry, selecting the company's digital lending platform, LoanVantage®, to automate commercial loans for small and medium-sized businesses.McKinney...
Read Story
February 22, 2022, 07:00 AM
|
Cerebro Capital, a commercial loan marketplace, released its Q4 2021 survey on non-bank lending for middle-market commercial and industrial (C&I) loans. Cerebro reports commercial lenders continued to ease lending standards in the fourth quarter...
Read Story
February 18, 2022, 08:00 AM
|
Blue Owl Capital has entered into a definitive purchase agreement to acquire Wellfleet Credit Partners LLC ("Wellfleet") from affiliates of Littlejohn & Co., LLC ("Littlejohn"). The transaction is expected to close in March 2022 and is subject to...
Read Story
February 17, 2022, 08:06 AM
|
BizCap opened an office in Dallas, marking another milestone in its national geographic expansion plan.Leading the growth effort for the new Dallas office is David Schubel, BizCap’s vice president of originations. With BizCap since 2020, Mr. Schubel...
Read Story
February 16, 2022, 07:53 AM
|
Solifi, a leading provider of mission-critical software for the secured finance industry, announced that Exeter Finance extended its agreement to use the Solifi (formerly IDS and White Clarke Group) platform in more than 11,000 U.S. auto dealerships....
Read Story
February 15, 2022, 07:50 AM
|
Bain Capital Specialty Finance announced the formation of Bain Capital Senior Loan Program, LLC ("SLP"). The SLP will provide BCSF with greater balance sheet flexibility to capitalize on senior middle market loan opportunities to borrowers in North...
Read Story
February 15, 2022, 07:09 AM
|
LSQ has forged a partnership with the Michigan Minority Supplier Development Council (MMSDC), a non-profit organization committed to driving economic growth in minority communities, to provide working capital assistance to minority-owned businesses...
Read Story
February 15, 2022, 07:06 AM
|
Ares Management Corporation announced that new financing commitments made across its U.S. direct lending strategies more than doubled to $33.4 billion in 2021. Funds managed by Ares Management Corporation’s Credit Group (collectively “Ares”) closed...
Read Story
February 11, 2022, 08:05 AM
|
MidCap Business Credit has formed a new entity MidCap Equipment Finance LLC and has retained a team of seasoned investment professionals to begin offering equipment loans and leases to middle market companies in the U.S. and Canada. This new product...
Read Story
February 11, 2022, 08:00 AM
|
Kapitus, a provider of small business financing, announced the closing of a $200 million asset-backed securitization (ABS). This new financing positions Kapitus for continued growth following a banner year in 2021, which saw the company’s highest...
Read Story
February 10, 2022, 05:41 AM
|
Crestmark, the Commercial Finance Division of MetaBank, N.A., announced a series of organizational changes as part of a company-wide initiative to enhance customer experience and improve operational execution. “Refocusing our organizational structure...
Read Story
February 09, 2022, 08:02 AM
|
NFS Leasing, a privately-held leader in equipment finance across the U.S. and Canada, is expanding its product offerings to include asset-based loans. An asset-based loan enables a company to access the equity in its business assets, converting that...
Read Story
February 09, 2022, 08:00 AM
|
White Oak Global Advisors announced that the firm, together with its financing affiliates (collectively, “White Oak”), originated $2.1 billion of loan transactions across 133 companies in 2021. As small and medium enterprises (SMEs) continue to look...
Read Story
February 08, 2022, 08:01 AM
|
PKF O’Connor Davies, one of the nation’s largest accounting, tax and advisory firms, introduced PKF Clear Thinking, LLC, a subsidiary of the Firm specializing in business advisory services for companies at any stage of their life cycle. Formally...
Read Story
February 07, 2022, 07:52 AM
|
Phoenix recognizes Michael Jacoby, Senior Managing Director and Shareholder, for his 3 decades of service at Phoenix.Jacoby joined Phoenix in 1992, and at the time became its 4th employee. He became a shareholder in 1994 and has been instrumental to...
Read Story
February 07, 2022, 07:47 AM
|
Great Elm Capital (GECC), a business development company, acquired a majority equity interest in Sterling Commercial Credit, LLC (“Sterling”) a leading asset-based lender.Established in 2004, Sterling provides asset-based loans to middle market...
Read Story
February 04, 2022, 08:00 AM
|
Solifi™ (formerly IDS), a global software partner for secured finance, exited 2021 – a transformational year of growth – with the launch of its new website www.solifi.com. The website encompasses the company’s complete market-leading portfolio of...
Read Story
February 02, 2022, 07:50 AM
|
NFS Leasing, a privately-held leader in equipment finance across the U.S. and Canada, achieved 16% year-over-year growth of originations in 2021. “Our growth throughout 2021 speaks to the strength of our team, our ability to move quickly in response...
Read Story
February 02, 2022, 07:45 AM
|
Solifi announced a collaboration with BlackBerry Limited that will integrate BlackBerry IVY with the company’s open finance platform to drive innovative, high-impact finance use cases for OEMs and automotive finance providers. Solifi becomes the...
Read Story
January 27, 2022, 07:40 AM
|
Wingspire Capital achieved a milestone of exceeding $1 billion in commitments in just its second year of operations as it provided more than $600 million in senior secured financing commitments for 2021.Wingspire’s 2021 transactions ranged in size...
Read Story
January 25, 2022, 08:15 AM
|
LiquidX, the global technology solutions provider for working capital, trade finance, and trade credit insurance, has expanded its technology offering to include reporting capabilities for securitization facilities. LiquidX sourced and facilitated a...
Read Story
January 21, 2022, 07:00 AM
|
Wingspire Capital announced the expansion of its product mix with the creation of a dedicated Equipment Finance division that will offer a full suite of flexible capital solutions delivered with Wingspire’s trademark level of creativity, flexibility...
Read Story
January 20, 2022, 08:10 AM
|
Principal Global Investors®, through its direct lending business, Principal Alternative Credit, closed out 2021 with a more than eight-fold increase in committed capital, advancing its plans to expand its private debt capabilities. Marking the...
Read Story
January 20, 2022, 08:03 AM
|
Benefit Street Partners announced record originations for both the fourth quarter and full-year 2021. BSP originated a record $2.8 billion of commitments across 41 issuers in the fourth quarter of 2021, resulting in record annual originations of $7.7...
Read Story
January 20, 2022, 07:58 AM
|
Houlihan Lokey announced that Chris Hastings has joined the firm as a Managing Director in the Capital Markets Group. Hastings will join Sean Fitzgerald in New York to provide equity solutions, including growth capital, structured equity, and PIPEs...
Read Story
January 19, 2022, 07:41 AM
|
SSG Capital Advisors acted as the investment banker to Custom Ultrasonics, Inc. (“CUI”) in the sale of substantially all of its assets to Wassenburg Medical B.V. (“Wassenburg”). The transaction closed on December 31, 2021.Headquartered in Ivyland...
Read Story
January 14, 2022, 07:45 AM
|
Crown Partners completed a successful recapitalization of Arsenal Funding, a merchant cash advance provider.Headquartered in New York City, Arsenal has provided merchant funding to thousands of small businesses and corporate organizations since 2014....
Read Story
January 14, 2022, 07:37 AM
|
Värde Partners and Hawkins Way Capital formed a joint venture to acquire more than $1 billion of value-add and distressed hospitality and housing assets in major U.S. cities. The assets will operate under a Hawkins Way affiliate. The JV, through...
Read Story
January 14, 2022, 07:00 AM
|
Robbins, Salomon & Patt, Ltd. (RSP) and DiMonte & Lizak, LLC (D&L) have merged their Chicago-based law practices to form Robbins DiMonte, Ltd. The combination expands the firms’ collective capabilities in core practice areas including business and...
Read Story
January 12, 2022, 07:45 AM
|
Golub Capital announced record originations for both the fourth quarter of 2021 and the full year. The Firm closed over $15 billion in commitments during the fourth quarter and over $36 billion in commitments for all of 2021. “2021 was Golub...
Read Story
January 11, 2022, 08:12 AM
|
Blue Owl Capital, a leading alternative asset manager, will bring its institutional quality middle-market lending capabilities to Canadian accredited investors. The initiative positions Blue Owl as one of the first U.S.-based private credit managers...
Read Story
January 07, 2022, 08:07 AM
|
Hunter Point Capital (“HPC”), an investment firm focused on taking minority stakes in middle-market alternative asset managers, announced a strategic investment in Iron Park Capital (“IPC”), a global alternative investment manager with deep...
Read Story
January 07, 2022, 07:40 AM
|
American Bank announced the acquisition of ACG Equipment Finance (ACG), a fully integrated direct equipment financing company headquartered in Austin, TX. The acquisition is another milestone in American Bank’s growth strategy, enhances the bank’s...
Read Story
January 07, 2022, 07:14 AM
|
SLR Investment Corp. amended its senior secured credit facility. The amendment includes a reduction in the Credit Facility’s pricing grid of 25 basis points, to LIBOR + 175 – 200 basis points, based on certain conditions. The Credit Facility was...
Read Story
January 04, 2022, 07:37 AM
|
AlixPartners announced the completion of the acquisition of the business and assets of Galt & Company, which specializes in helping management teams achieve and sustain superior growth in shareholder value. The acquisition closed on December 31, 2021...
Read Story
January 04, 2022, 07:00 AM
|
Cerebro Capital, a commercial loan marketplace, released its Q3 2021 survey on non-bank lending for middle-market commercial and industrial (C&I) loans. Cerebro reports lenders continued to ease lending standards, making it easier for businesses to...
Read Story
December 29, 2021, 07:55 AM
|
The staff of ABL Advisor would like to extend Happy New Year wishes to all of our readers and advertisers. Thank you for your loyalty and goodwill throughout 2021! We will return with the Daily eNews Blast on Monday, Jan. 3, 2021.ABL Advisor's...
Read Story
December 29, 2021, 07:00 AM
|
Virginia Governor-Elect Glenn Youngkin announced he has chosen Stephen Emery Cummings to serve as the next Secretary of Finance of the Commonwealth of Virginia. Cummings, a leader in finance in the United States and abroad, and most recently...
Read Story
December 28, 2021, 08:07 AM
|
P10, a leading private markets solutions provider, announced that it and certain of its subsidiaries, as guarantors, have entered into a $250 million credit facility with a syndicate of banks led by JPMorgan Chase Bank and Texas Capital Bank.The new...
Read Story
December 27, 2021, 08:00 AM
|
MCAP Acquisition Corporation (“MCAP”), a special purpose acquisition company sponsored by an affiliate of Monroe Capital, announced the completion of its business combination (the “Business Combination”) with AdTheorent Holding Company, a leading...
Read Story
December 27, 2021, 07:40 AM
|
B. Riley Financial has established a new receivables business to provide debt monetization solutions and portfolio acquisition services for its clients. This new division utilizes the Company's strong capital base and expert resources offered through...
Read Story
December 22, 2021, 08:00 AM
|
Citizens M&A Advisory served as the exclusive financial advisor to Best Lawyers®, the oldest and most respected peer-review ranking service in the global legal community, on its acquisition by Abry Partners, a Boston-based investment firm. Best...
Read Story
December 22, 2021, 07:00 AM
|
Citizens Financial Group announced a definitive agreement to purchase substantially all of the assets of DH Capital LLC, a private investment banking firm serving companies in the Internet infrastructure, software and next generation IT services, and...
Read Story
December 16, 2021, 07:45 AM
|
FTI Consulting entered into a definitive agreement to acquire BOLD, a leading restructuring, transactions, digital and transformation advisory firm in the Netherlands. The acquisition is expected to close during the first quarter of 2022. Terms of...
Read Story
December 15, 2021, 07:10 AM
|
Reaching a pivotal milestone in its four-year journey as court-appointed receiver for pioneering digital data and advertising company AudienceScience Inc., Seattle-based Revitalization Partners has filed suit against Google LLC and YouTube LLC for...
Read Story
December 13, 2021, 08:10 AM
|
Corcentric and North Mountain Merger Corp., a publicly traded special purpose acquisition company, have entered into a definitive agreement to consummate a business combination that would result in Corcentric becoming a publicly listed company. Upon...
Read Story
December 13, 2021, 07:55 AM
|
The fourth quarter Phoenix Management “Lending Climate in America” survey results reveals supply chain constraints are the biggest concern for the U.S economy as we enter 2022.COVID-19 has amplified the carrier shortage causing major supply chain...
Read Story
December 10, 2021, 08:05 AM
|
Leslie A. Berkoff, a Partner and Chair of the Dispute Resolution practice group in the Garden City office of Moritt Hock & Hamroff, has been appointed by the American Bar Association to serve as Chair of the Dispute Resolution Committee of the...
Read Story
December 07, 2021, 07:35 AM
|
AdTheorent Holding Company, a leading programmatic digital advertising company using advanced machine learning technology and privacy-forward solutions to deliver real-world results for advertisers and marketers, announced that the registration...
Read Story
December 07, 2021, 07:14 AM
|
WeWork provided a business update of key operational metrics for November 2021 and announced agreements to extend its secured credit commitments, which resulted in an extension of $1.75 billion of total liquidity from February 2023 to February...
Read Story
December 06, 2021, 08:05 AM
|
SLR Investment Corp. (“SLRC”) and SLR Senior Investment Corp. (“SUNS”) have entered into an agreement to merge together, with SLRC as the surviving company, subject to stockholder approval and customary closing conditions. The Boards of Directors of...
Read Story
December 02, 2021, 08:10 AM
|
Solifi (formerly IDS), a global fintech software partner for secured finance, announced Sunflower Bank as its first client to move mission-critical Asset-Based Lending (ABL) operations to the Solifi software-as-a-service (SaaS) platform. Solifi...
Read Story
December 01, 2021, 07:49 AM
|
Commercial Equipment Finance, an independent commercial equipment finance company headquartered in Puerto Rico, closed a $90.9 million asset-backed security (ABS) transaction. The proceeds will be used to pay down existing warehouse lines and for...
Read Story
December 01, 2021, 07:00 AM
|
DLL, a global provider of asset-based financial solutions, announced the intended appointment of Carlo van Kemenade as Chief Executive Officer (CEO) and Chairman of the Executive Board of DLL, subject to final approval of the applicable regulatory...
Read Story
November 29, 2021, 07:41 AM
|
Mitsubishi HC Capital Canada (formerly Hitachi Capital Canada) has been named as a winner of the 2021 Canada’s Most Admired Corporate Cultures™ program. This national program recognizes best-in-class Canadian organizations for fostering high...
Read Story
November 29, 2021, 07:00 AM
|
B. Riley Securities will host a Crypto Conference in New York, NY on Wednesday, December 8, 2021.Andy Moore, CEO of B. Riley Securities, commented: “Our Live Crypto Conference delivers the ultimate forum for our institutional partners to glean...
Read Story
November 24, 2021, 07:30 AM
|
Phoenix Management Services congratulates Brian Gleason, Senior Managing Director & Shareholder of the firm, on his new role on the Turnaround Management Association’s Executive Board as Vice President of Certification. In addition to the TMA, Brian...
Read Story
November 24, 2021, 07:00 AM
|
Oaktree Capital Management announced the successful final close of Oaktree Opportunities Fund XI and its related vehicles (“Opps XI” or “the Fund”), with total capital commitments of $15.9 billion. Opps XI is Oaktree’s largest fund in history...
Read Story
November 22, 2021, 07:57 AM
|
Solifi (formerly IDS), a global fintech software partner for secured finance, announced they have secured 11 new customers and 14 go-lives to date in 2021. With our unique open finance platform driving record-breaking growth and digital...
Read Story
November 19, 2021, 07:59 AM
|
Yieldstreet, a leading multi-asset alternative investment platform, announced that Deloitte ranked it once again among the fastest growing technology companies in the U.S. as part of its annual Technology Fast 500 List. Yieldstreet is featured among...
Read Story
November 19, 2021, 07:40 AM
|
Global financial institutions’ (FIs) credit ratings have been affected less severely by the pandemic than by the two previous crises this century, Fitch Ratings says. The agency’s transition and default analysis shows that global FI ratings fell by 0...
Read Story
November 17, 2021, 07:40 AM
|
Taylor Morrison Home Corporation, the nation's fifth largest homebuilder, and Värde Partners, a leading global alternative investment firm, have entered into a land banking facility agreement and agreed to a joint venture, opening more than $1...
Read Story
November 17, 2021, 07:06 AM
|
Oppenheimer & Co. announced the launch of its new Global Fund Placement and Advisory Group ("FPA Group"). The FPA Group will provide services to leading alternative investment firms to help them fulfil their fundraising ambitions and strategic plans....
Read Story
November 15, 2021, 08:00 AM
|
AlixPartners announced its intended acquisition of management consulting firm Galt & Company, which specializes in helping management achieve and sustain superior growth in shareholder value. Galt & Company has been associated with some of the more...
Read Story
November 15, 2021, 07:40 AM
|
BHI announced that its Commercial and Industrial Group has closed $1.1 billion in transactions year-to-date 2021. BHI’s C&I Group handles financing for commercial and industrial companies in the middle market and encompasses sectors including private...
Read Story
November 09, 2021, 08:00 AM
|
Pathlight Capital announced the final closing of its sophomore funds, Pathlight Capital Fund II LP and Pathlight Capital Offshore Fund II, LP (together, the “Fund”), with $1.16 billion of capital commitments. The Fund was oversubscribed, closing...
Read Story
November 09, 2021, 07:54 AM
|
FTI Consulting announced its commitment to achieve net-zero greenhouse gas (“GHG”) emissions by 2030.The Company will identify emission reduction targets for Scope 1 and Scope 2 emissions, as well as business travel, in 2022 and intends to work...
Read Story
November 08, 2021, 07:29 AM
|
Ameriprise Financial completed its previously announced acquisition of BMO Financial Group’s (BMO) EMEA Asset Management business for £615 million, or approximately $829 million, subject to customary adjustments. The all-cash transaction adds...
Read Story
November 08, 2021, 05:00 AM
|
American Equity Investment Life Holding Company, a leading provider of financial dignity solutions through general account annuities for individual clients in the United States and Monroe Capital, a premier boutique $11.2 billion asset management...
Read Story
November 05, 2021, 08:00 AM
|
SSG Capital Advisors acted as the investment banker to Tri-Wire Engineering Solutions, Inc., in the sale of substantially all of its assets to ITG Communications, LLC (“ITG”). The sale was effectuated through a Chapter 11 Section 363 process in the U...
Read Story
November 05, 2021, 07:44 AM
|
Houlihan Lokey announced the launch of the Private Performing Credit Index (PPCI), a new quarterly index that offers visibility to the universe of performing private credit loans. “We are excited to launch the first index of its kind to bring...
Read Story
November 04, 2021, 07:55 AM
|
The middle market, defined as organizations with annual revenues between $10 million and $1 billion, is responsible for one-third of private sector GDP and employment (HBR). New research from Capital One and Morning Consult explored how middle market...
Read Story
November 04, 2021, 07:40 AM
|
Mercury Financial LLC (Mercury Financial), a financial inclusion technology company, announced the closing of a new $400 million warehouse facility. This transaction increases Mercury Financial’s funding capacity as it continues to grow its customer...
Read Story
November 04, 2021, 07:30 AM
|
Citizens M&A Advisory served as the exclusive financial advisor to FT Synthetics on its acquisition by GAF, a portfolio company of Standard Industries.FT Synthetics is a fully integrated manufacturer of coated woven fabrics, with a dedicated focus on...
Read Story
November 04, 2021, 06:00 AM
|
Phoenix Capital Resources, a leading middle market special situations investment bank, served as the exclusive investment banker to Fast Track Leasing, LLC in its sale to an affiliate of Buggy TLC Rentals.Fast Track is one of New York City’s...
Read Story
November 03, 2021, 07:38 AM
|
FGI Worldwide announced that Paul Melchiorre has been appointed to the Board of Directors of its parent company, FGI Worldwide Holdings LLC.Melchiorre brings over 30 years of business solutions leadership experience to FGI, specifically within the...
Read Story
November 01, 2021, 07:00 AM
|
Gordon Brothers will serve as Ranger Energy Services Inc.’s agent in the disposition of excess oil field services equipment and operating assets the company purchased through the Basic Energy Services Inc. bankruptcy process.Gordon Brothers will...
Read Story
October 28, 2021, 07:36 AM
|
Solifi, formerly IDS, a global fintech software partner for secured finance, announced Stonebriar Commercial Finance has extended its relationship with Solifi as Solifi provides its software-as-a-service (SaaS) technology platform to support...
Read Story
October 27, 2021, 07:30 AM
|
Hilco Redevelopment Partners (HRP), an operating company within Hilco Global, announced a new brand and identity for the former PES refinery in South Philadelphia. The 1,300-acre South Philadelphia property will now be called The Bellwether District...
Read Story
October 26, 2021, 07:30 AM
|
Yieldstreet Private Business Credit entered year two in a tremendous fashion. In 3Q 2021, Yieldstreet Private Business Credit closed a total of $115 million in new deals across both consumer and commercial asset classes within various positions of...
Read Story
October 22, 2021, 08:07 AM
|
White Oak Global Advisors has successfully completed fundraising for White Oak Yield Spectrum Fund V (“the Fund”) and other associated vehicles with over $1.3 billion of total committed capital. An additional commitment of up to $1.0 billion was...
Read Story
October 21, 2021, 08:00 AM
|
FTI Consulting announced that Stella Mendes, a Senior Managing Director in the firm’s Forensic and Litigation Consulting segment, and Caroline Parker, a Managing Director in the firm’s Strategic Communications segment, have been named to Consulting...
Read Story
October 18, 2021, 06:17 AM
|
Kyriba, a global leader of cloud-based finance and IT solutions, announced the launch of new Kyriba Working Capital Solutions as part of its bold effort to close the reported $3.4 trillion trade financing gap and help corporate buyers support all...
Read Story
October 15, 2021, 07:50 AM
|
Moody’s Analytics announced the launch of ABS Suite Plus, a next-generation version of its industry leading solution for end to end structured finance administration, accounting, funding optimization, and analytics. By incorporating workflow...
Read Story
October 14, 2021, 07:55 AM
|
HyperAMS and Liquid Asset Partners announced a new joint venture, HyperLiquid Retail Solutions, to focus on retail inventory and store closing liquidations. HyperLiquid will utilize decades of experience and specialties of both businesses to provide...
Read Story
October 13, 2021, 07:18 AM
|
IDS and its acquired companies, William Stucky and Associates and White Clarke Group, announced the launch of a new company identity: Solifi. The new brand and visual identity bring together innovative solutions, deep industry expertise, global reach...
Read Story
October 12, 2021, 08:00 AM
|
National Funding announced the recent renewal and upsize of a $60.0 million senior secured warehouse line of credit. The facility, which includes an accordion to expand to $75.0 million, was provided by a prominent U.S.-based commercial bank. The...
Read Story
October 12, 2021, 07:13 AM
|
Two attorneys from Greenberg Traurig were recognized as “Attorney of the Year” at the Euromoney Legal Media Group’s annual “Women in Business Law Awards Americas.” Presented virtually on Sept. 29, 2021, the awards recognized the firm in two...
Read Story
October 11, 2021, 07:28 AM
|
Alvarez & Marsal’s Global Transaction Advisory Group (TAG) has launched A&M Data Intelligence Gateway (A&M DIG), a new proprietary technology that significantly increases the speed of deal identification. Led by A&M DIG Executive Directors Tara Bilby...
Read Story
October 11, 2021, 07:08 AM
|
Amerisource Business Capital was honored in the M&A Advisor’s 15th Annual Turnaround Awards. Amerisource received its award at the Turnaround Awards Gala, which took place at the 2021 Distressed Investing Summit on September 29, 2021 in midtown...
Read Story
October 08, 2021, 08:00 AM
|
Siena Lending Group is proud to be an honoree in the 15th Annual Turnaround Awards, which recognize achievements in the distressed investing and reorganization industry. The awards, sponsored by The M&A Advisor, were presented at a gala dinner in...
Read Story
October 07, 2021, 07:40 AM
|
SC&H Capital, a leading investment bank specializing in M&A advisory, is pleased to share that its client, Electronic Data Magnetics, Inc. (“EDM” or the “Company”), has completed a going concern sale of its 38-year-old family-owned-and-operated...
Read Story
October 06, 2021, 07:43 AM
|
Rosenthal & Rosenthal announced the launch of Pipeline, a new e-commerce growth capital resource tailor-made for savvy entrepreneurs and founders looking for an extra edge to keep their brands charging forward. Family-owned and independent...
Read Story
October 05, 2021, 08:05 AM
|
Teacher Retirement System of Texas (“TRS”) and CIFC Asset Management LLC (“CIFC”) have announced the creation of a new leveraged loan investment fund platform known as Texas Debt Capital LP (“TDC”). A CIFC affiliate is the general partner and...
Read Story
October 04, 2021, 08:12 AM
|
American Finance Trust amended and restated its existing $540 million unsecured revolving credit facility and increased the size to $815 million (the "Credit Facility"). The Credit Facility matures in 4.5 years, has two 6-month extension options, and...
Read Story
October 04, 2021, 07:45 AM
|
Carl Marks Advisors has been recognized with three awards at The M&A Advisor’s 15th Annual Turnaround Awards, one of the restructuring and distressed investing industry’s benchmarks for excellence. Carl Marks Advisors was honored in the following...
Read Story
October 01, 2021, 07:37 AM
|
HOPE Chicago is a first-of-its-kind scholarship model serving Chicago students and their parents. Led by former Chicago Public Schools (CPS) CEO Dr. Janice Jackson, HOPE Chicago is committed to raise, invest and deploy $1 billion in college...
Read Story
September 30, 2021, 06:00 AM
|
Monroe Capital announced the closing of a $505 million term debt securitization known as Monroe Capital MML CLO XII, LTD. The term financing was Monroe’s seventh CLO completed since March 2018 and is secured by a portfolio of middle market senior...
Read Story
September 28, 2021, 07:55 AM
|
Crossroads Systems, a holding company focused on investing in businesses that promote economic vitality and community development, announced a merger with Rise Line Business Credit ("Rise Line"), a nationwide asset-based lending firm that provides...
Read Story
September 28, 2021, 07:52 AM
|
Gibraltar Business Capital announced that Jim Marasco, a widely respected senior executive leader with an extensive tenure at Wells Fargo Capital Finance, has been appointed to its Board of Directors. Jim has deep expertise in all aspects of secured...
Read Story
September 28, 2021, 07:36 AM
|
Gordon Brothers and Jones Lang LaSalle Incorporated (JLL) have expanded their strategic alliance to offer integrated services to businesses operating in Spain and Portugal that are going through change or transformation. The alliance covers the...
Read Story
September 27, 2021, 07:49 AM
|
MidCap Financial in alliance with Apollo Global Management announced the start of a non-exclusive strategic capital relationship with Lafayette Square, an impact investment platform founded by Damien Dwin that is working locally to create an...
Read Story
September 24, 2021, 07:52 AM
|
For its work on the Chapter 11 bankruptcy restructuring of off-price home goods retailer Tuesday Morning, A&G Real Estate Partners was among the winners of the Turnaround Management Association’s 2021 Turnaround/Transaction of the Year Awards. The...
Read Story
September 22, 2021, 07:37 AM
|
By order of the U.S. Bankruptcy Court, District of Delaware, SC&H Capital, a leading investment bank specializing in M&A advisory, has been retained as the exclusive investment banker to Moon Group, Inc. (“Moon” or “the Company”) to explore strategic...
Read Story
September 22, 2021, 07:00 AM
|
Great Elm Capital Corp. (GECC), a business development company, has acquired a majority equity interest in Lenders Funding, LLC (Lenders) a private funding and risk sharing source for factors and asset-based lenders.Established in 2000, Lenders...
Read Story
September 21, 2021, 08:04 AM
|
Monroe Capital was selected as the recipient of the 2021 Best U.S. Direct Lending Fund by Creditflux, a London-based global publication and leading information source for the rapidly evolving market for credit funds and CLOs. The award was presented...
Read Story
September 21, 2021, 08:00 AM
|
Ballard Spahr represented Excel Physical Therapy in its recent partnership with Ivy Rehab Network, a transaction that will expand Ivy Rehab Network’s footprint to 73 locations in the Philadelphia region and 300 locations nationwide.Founded in 1990...
Read Story
September 20, 2021, 07:07 AM
|
PKF O’Connor Davies, one of the nation’s largest accounting, tax, and advisory firms, announced that Clear Thinking Group, LLC, an award-winning national bankruptcy and restructuring consultancy based in Hillsborough, NJ, has joined the Firm. The...
Read Story
September 15, 2021, 08:06 AM
|
In recent weeks, Hilco Terracota, a subsidiary of Hilco Global and Hilco Global Mexico, was appointed as the Primary Servicer of one of the major Payroll Loan Companies in Mexico and Colombia (the “Company”). The Company has recently filed for...
Read Story
September 15, 2021, 07:58 AM
|
A Haynes and Boone team led by Partner Ian Peck has been honored by the Turnaround Management Association (TMA) for its representation of Tuesday Morning Corporation in its successful reorganization and emergence from Chapter 11.Haynes Boone received...
Read Story
September 15, 2021, 07:55 AM
|
Loeb announced easier and quicker access to its portfolio of financial services with the launch of its updated and completely redesigned website, loebequipment.com. Whether you are looking for appraisal, auction, liquidation or financial services...
Read Story
September 15, 2021, 07:07 AM
|
Houlihan Lokey announced that Stephen Lee has joined as a Managing Director and Head of the Technology and Cybersecurity practice, a new service line within Transaction Advisory Services (TAS). He is based in Chicago and will lead a team providing IT...
Read Story
September 14, 2021, 07:07 AM
|
Citizens M&A Advisory announced served as the exclusive financial advisor to Aviacode, a leading provider of outsourced medical coding services, to GeBBS, a ChrysCapital-backed technology enabled revenue cycle management (“RCM”) and risk adjustment...
Read Story
September 13, 2021, 07:25 AM
|
Theresa A. Driscoll, a partner at Moritt Hock & Hamroff, has been named by Long Island Business News as a member of its Top 50 Most Influential Women In Business for 2021. The award recognizes the significant contributions of women professionals to...
Read Story
September 09, 2021, 07:28 AM
|
Crayhill Capital Management announced the final close of Crayhill Principal Strategies Fund II ("Principal Strategies II") with approximately $820 million of capital commitments. Principal Strategies II closed at its hard cap with support from a...
Read Story
September 08, 2021, 07:38 AM
|
Main Street Capital recently invested a total of $26.0 million in first lien, senior secured term debt in two existing portfolio companies.Main Street recently completed a follow-on investment in OMi Holdings, Inc, ("OMi") to support a...
Read Story
September 07, 2021, 07:07 AM
|
Sterling Bancorp announced a strategic investment in Texture Capital Holdings Corp., which through its wholly-owned subsidiary Texture Capital, Inc. operates an SEC registered broker dealer and Alternative Trading System (“ATS”). Texture supports...
Read Story
September 07, 2021, 07:00 AM
|
Greenberg Traurig has been honored in several categories at the M&A Advisor's 15th Annual Turnaround Awards. The firm's attorneys were members of the teams awarded Restructuring of the Year ($500 MM- $1 B) for the restructuring of American Addiction...
Read Story
September 07, 2021, 06:23 AM
|
Cerebro Capital, a commercial loan platform, released its Q2 2021 survey on non-bank lending for middle-market commercial and industrial (C&I) loans. Lenders saw increased demand for credit because of the booming M&A market and the improving economy...
Read Story
September 03, 2021, 08:04 AM
|
Celtic Bank expanded its commercial loan offerings to technology companies that are not well suited for traditional loan products given the nature of their business models."This is an interesting loan product that may not be suitable for many...
Read Story
September 01, 2021, 08:00 AM
|
Citizens M&A Advisory served as the exclusive financial advisor to Invisors, a leading Workday consulting firm based in Atlanta, GA, on its recapitalization by WestView Capital Partners, a Boston-based private equity firm focused on middle-market...
Read Story
September 01, 2021, 07:27 AM
|
KKR announced the formation of Strategic Lease Partners (“SLP”), a new platform to invest in a diversified portfolio of triple-net lease (NNN) real estate. KKR’s investment, primarily from its credit and real estate funds, will position the platform...
Read Story
August 26, 2021, 07:52 AM
|
MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. originated $6.4 billion in private placement debt and private structured credit for the first half of 2021 across 107 transactions. This included $1.2...
Read Story
August 26, 2021, 06:37 AM
|
Hilco Global donated over $1,200,000 worth of new athletic apparel to The Salvation Army in Chicago, New Jersey, Boston, Philadelphia, and the Alexandria Redevelopment Housing Authority in Alexandria, Virginia. The 47,000 pieces of new apparel and...
Read Story
August 25, 2021, 07:15 AM
|
Stonebriar Commercial Finance issued and sold $227,000,000 of Series A 7.50% Fixed-Rate Reset Cumulative Preferred Shares (“Preferred Shares”) in a private offering.The Preferred Shares, rated “BB” by DBRS, were issued to a group of qualified...
Read Story
August 24, 2021, 07:00 AM
|
Advisory Group Equity Services launched Trust Capital Markets, a growth stage and middle-market focused investment banking division providing financial advisory, capital placement, mergers and acquisitions, and restructuring services to businesses...
Read Story
August 20, 2021, 07:48 AM
|
Citizens M&A Advisory served as the exclusive financial advisor to Orttech, Inc. on its majority recapitalization by Main Street Capital Corporation. Headquartered in Solon, OH, Orttech is a leading value-added distributor delivering mission-critical...
Read Story
August 18, 2021, 07:50 AM
|
CBIZ appointed Richard T. Marabito as independent director to the Company's Board of Directors, effective August 12, 2021.The appointment of Mr. Marabito comes as the CBIZ Board of Directors approved the expansion of its membership from 10 to 11...
Read Story
August 16, 2021, 07:00 AM
|
North Mill Capital LLC (d/b/a SLR Business Credit), acquired Fast Pay Partners. Based in Los Angeles, CA, Fast Pay Partners enables clients to accelerate receivables and access liquidity through its asset-based lending and factoring platform which...
Read Story
August 13, 2021, 08:00 AM
|
Carl Marks Advisors served as the exclusive financial advisor to WE Transport, a provider of outsourced transportation services to the special needs and general education communities, in its sale to Beacon Mobility. WE Transport provides...
Read Story
August 12, 2021, 07:06 AM
|
J.P. Morgan Asset Management announced the expansion of its private credit platform and appointment of Vincent Lu and Brian Van Elslander as co-heads of the newly formed Global Performing Credit group. Mr. Lu and Mr. Van Elslander bring extensive...
Read Story
August 10, 2021, 08:06 AM
|
Encina Business Credit announced a recapitalization and a significantly expanded capital base provided by Barings LLC affiliated funds along with participation by Encina management. This recapitalization provides liquidity necessary for Encina to...
Read Story
August 06, 2021, 08:28 AM
|
FTI Consulting has been named Global Turnaround Consulting Firm of the Year and Public Relations Firm of the Year by Global M&A Network. The firm also was recognized for its work on 14 restructuring and merger and acquisition engagements.The...
Read Story
August 06, 2021, 07:58 AM
|
TowerBrook Capital Partners, an international investment management firm, has made a strategic investment in EisnerAmper.TowerBrook’s significant capital infusion will help drive EisnerAmper’s long-term growth initiatives, which include accelerating...
Read Story
August 03, 2021, 08:10 AM
|
Houlihan Lokey and GCA Corporation have entered into a definitive agreement, dated as of August 3, 2021 (local time in Tokyo), under which Houlihan Lokey will commence a tender offer to acquire GCA for a total cash purchase price of approximately ¥65...
Read Story
August 03, 2021, 07:41 AM
|
SLR Capital Partners announced initial closings of its healthcare direct lending funds (together "SLR HCLF" or the "Fund"), securing over $480 million in equity commitments, reaching SLR's initial target. With anticipated leverage, total available...
Read Story
|
Prudential Financial announced that it is more deeply integrating its environmental, social and governance (ESG) commitments into the company’s liquidity framework through the renewal of its five-year $4 billion credit facility, which now links the...
Read Story
|
White Oak Global Advisors announced that it has brought on Eric Tanjeloff as Managing Principal to lead White Oak Real Estate Capital (“WOREC”), a newly formed affiliate focused on credit opportunities in commercial real estate. WOREC will initially...
Read Story
|
GTCR LLC and Reverence Capital Partners, L.P. announced that upon closing of their acquisition of Wells Fargo Asset Management (WFAM), the newly independent company will be rebranded as Allspring Global Investments. The new name Allspring Global...
Read Story
|
Revolving credit facilities remained a critical tool for companies, with overall robust recoveries for both asset-backed loans (ABL) and cash flow revolvers, according to a new Fitch Ratings report."The pandemic fostered increased revolving credit...
Read Story
|
GemCap announced the receipt of investment capital from VION Investments, an Atlanta-based provider of funding to companies managing receivable assets. This partnership combines their shared expertise with incremental capital to create a new source...
Read Story
|
Alternative investment manager Archway Capital has expanded its lending platform to include first mortgage debt, mezzanine capital, as well as preferred and CO-GP equity between $3 million and $15 million secured by performing and non-performing...
Read Story
|
IDS, a provider of mission-critical enterprise solutions for secured finance, announced it has signed a strategic partnership agreement with Tamarack Technology, Inc., a provider of digital transformation services and solutions for equipment finance....
Read Story
|
Carl Marks Advisors has been recognized with three 2021 Turnaround Atlas Awards. The awards, which are given out each year by the Global M&A Network to honor significant achievements in financial restructuring, insolvency and distressed investing...
Read Story
|
Three Pennsylvania-based business and mergers & acquisitions experts have launched TwelveDawn Mergers & Acquisitions, a mid-sized financial and strategic consulting firm focused on owners seeking to create an exit for their going-concern. TwelveDawn...
Read Story
|
Rendering financial advisory services in the business turnaround, restructuring and bankruptcy practice areas requires both special knowledge and extensive relevant experience. In 1992, the AIRA established the Certified Insolvency and Restructuring...
Read Story
|
Golub Capital published a special edition of the Golub Capital Middle Market Report for Q2 2021. The report compared the April and May 2021 revenue and earnings of middle market private companies in the Golub Capital Altman Index to revenue and...
Read Story
|
Jefferies Financial Group and Sumitomo Mitsui Financial Group, Sumitomo Mitsui Banking Corporation (“SMBC”) and SMBC Nikko Securities (“SMBC Nikko”) entered into a Strategic Alliance to collaborate on future corporate and investment banking business...
Read Story
|
Matrix Capital Markets Group announced the formation of a new Capital Advisory Investment Banking Group. John J. Whalen, Managing Director, has been named head of the new group and M. Ryan Weir, Jr., Vice President has also joined the team.Matrix has...
Read Story
|
Golub Capital announced record originations in the second quarter of 2021, signing up over $9 billion in retained and syndicated commitments and completing over 95 new and add-on transactions. Originations in the quarter were 30% higher than the...
Read Story
|
Golub Capital BDC originated $614.7 million in new middle-market investment commitments during the three months ended June 30, 2021. Approximately 80% of the new middle-market investment commitments were one stop loans, 15% were senior secured loans...
Read Story
|
Hilco Global announced that it has entered into a definitive agreement to acquire the New York based firm - Getzler Henrich & Associates LLC. Getzler Henrich is a 53-year-old nationally recognized turnaround and restructuring advisory firm that...
Read Story
|
IDS, a leading provider of mission-critical enterprise solutions for secured finance, announced that it has completed the migration of IDS ABL to IDScloud, a leading SaaS-based solution for secured finance. Now asset-based lenders can gain access to...
Read Story
|
B. Riley Financial received multiple awards at the 13th Annual Turnaround Atlas Awards, hosted by Global M&A Network on June 24 and 25, 2021.Tom Kelleher, Co-Chief Executive Officer of B. Riley Financial commented: “These awards demonstrate our...
Read Story
|
SSG Capital Advisors acted as the investment banker to Connections Community Support Programs in the sale of substantially all of its assets to an affiliate of Inperium, Inc. The transaction closed in June 2021.Founded in 1985, Connections is a...
Read Story
|
Hertz Global Holdings announced the composition of its new Board of Directors whose term is effective with the Company's successful completion of its restructuring and emergence from Chapter 11. The new Board will initially include eight members with...
Read Story
|
EisnerAmper announced that its FAS Group has won the Turnaround Atlas Award in the category of “Health Care Restructuring Deal of the Year” from the Global M&A Network—a leading media company reporting on alternative investing, PE, M&As...
Read Story
|
Thompson Coburn LLP, a national law firm with six offices across the country, announced its combination with New York-based Hahn & Hessen LLP, a 44-attorney firm with nearly a century of experience representing financial institutions and other...
Read Story
|
SSG Capital Advisors acted as the investment banker to the Chapter 11 Trustee (“Trustee”) of Vascular Access Centers, L.P. in the sale of substantially all of its assets and certain equity interests to Endovascular Health Services, Inc. and...
Read Story
|
Thompson Pipe Group ("TPG" or the "Company"), a leading provider of innovative solutions for demanding infrastructure applications, has engaged B. Riley Securities, Inc., a full-service investment bank and subsidiary of B. Riley Financial, Inc., to...
Read Story
|
The 2021 institutional U.S. loan default rate forecast has been lowered to 1.5% from 2.5%, reflecting continued capital market confidence as constricted sectors re-open, according to a new Fitch Ratings report."The anticipated 1.5% default rate would...
Read Story
|
Panagram Structured Asset Management (“Panagram”), an Eldridge business and an SEC-registered investment adviser (“RIA”) specializing in structured credit, announced its launch. Panagram currently oversees approximately $13.5 billion in assets under...
Read Story
|
HSBC Bank USA announced it is offering Sustainability-Linked Loans (SLL) that will enable U.S businesses to tie their borrowing to activities that support a more sustainable, resilient and prosperous world.HSBC SLLs are available in a variety of...
Read Story
|
Apollo Global Management announced that entities, clients and funds managed by its affiliates (the “Apollo Funds”) have committed to invest up to $500 million in senior secured credit facilities originated by Victory Park Capital (“VPC”), a global...
Read Story
|
J.P. Morgan Asset Management announced the launch of J.P. Morgan Private Capital, which includes a new growth equity investment arm and an existing private debt business, committed to providing customized solutions for early and growth stage...
Read Story
|
DirectBooks, the capital markets consortium founded to optimize global financing markets, announced that Scotiabank, Rabo Securities and Huntington Capital Markets have joined the DirectBooks platform. The addition of these dealers increases the sell...
Read Story
|
Fifty-seven percent of executives say their companies don’t have documented plans in place for executive transitions, despite nearly 90% agreeing that succession planning is more important today than ever before. And efforts to preserve an outgoing...
Read Story
|
On Wednesday, June 2, 2021, Yieldstreet announced its Series C funding round of $100M. For the last six years, Yieldstreet has been committed to providing its origination partners with a one-stop solution for capital, providing true flexibility and...
Read Story
|
Architect Capital, an asset-based lender to early-stage technology businesses, has launched with over $100 million to provide non-dilutive or less-dilutive financing solutions to high-growth and technology-enabled businesses. With a focus on FinTech...
Read Story
|
Monroe Capital has been recognized by Global M&A Network as the Mid-Markets Lender of the Year. Award winners were honored at the virtual U.S.A. M&A Atlas Awards Gala held on May 26th. This award recognizes the firm’s notable value-creating...
Read Story
|
The Federal Reserve Board on Wednesday announced plans to begin winding down the portfolio of the Secondary Market Corporate Credit Facility (SMCCF), a temporary emergency lending facility that closed on December 31st, 2020. The SMCCF proved vital in...
Read Story
|
Nations Capital, Inc. ("NCI"), an asset management and advisory firm focused on opportunistic investments and asset remarketing, has officially launched all of its business platforms to its clients and customer base. NCI is a strategic partner to...
Read Story
|
Hilco Redevelopment Partners (HRP), a unit of Hilco Global, announced the purchase of an industrial development site located at 11002 Northwest S. River Drive in Medley, FL. The 8.5-acre property is part of a larger 25-acre Superfund site which has...
Read Story
|
Encina Equipment Finance announced the pricing and closing of its first assetbacked securities transaction. The $258.4MM offering was backed by a diverse pool of equipment loans and leases to 43 obligors across a variety of industries.EEF’s...
Read Story
|
IDS has successfully completed the acquisition of White Clarke Group, a leading provider of retail, fleet, wholesale and asset finance software solutions for the automotive and equipment finance markets. The combination creates a multi-asset class...
Read Story
|
Steve Emerson has announced the formation of Dry Creek Capital Partners, a special situations investing group formed to provide a platform for investments in debt obligations of distressed commercial real estate and small business debt. Dry Creek...
Read Story
|
Värde Partners, a leading global alternative investment firm, announced the closing of a commercial real estate collateralized loan obligation (CRE CLO). This is the firm’s fourth and largest CRE CLO, and eighth securitization of commercial real...
Read Story
|
Hilco Global's commercial-industrial team has acquired all of the assets of Sutton Leasing, a large fleet leasing company based in Sterling Heights Michigan, in a multi-million-dollar transaction which closed on May 7, 2021. The Hilco Commercial...
Read Story
|
Allvue Systems announced that Monroe Capital selected the firm as its portfolio management software provider.
Allvue is providing Monroe a powerful suite of solutions including private debt, portfolio management, trade order management, compliance...
Read Story
|
By order of the U.S. Bankruptcy Court, Middle District of North Carolina, Greensboro Division, SC&H Capital, a leading investment bank specializing in M&A advisory, has been retained as the exclusive investment banker to Electronic Data Magnetics...
Read Story
|
EisnerAmper launched a new group focused on servicing special purpose acquisition companies (“SPACs”).A SPAC is an entity formed by investors or sponsors with specific sector expertise in order to raise public capital and pursue future acquisitions....
Read Story
|
IDS has been selected a winner of the Top 20 FinTech Solution Providers 2021 by Enterprise Ventures. IDS was selected after a rigorous evaluation process which included over 300 global fintech software technology firms and was based upon the...
Read Story
|
SG Credit Partners announced the extension of its comprehensive credit platform exclusively serving lower middle market entrepreneurs and new website illustrating its expanded capabilities. The broad platform was developed to provide tailored lending...
Read Story
|
AllianceBernstein announced the closing of AB BSL CLO 2, a $400 million collateralized loan obligation (CLO) with JPMorgan Chase acting as lead arranger.This marks the second CLO for the firm's broadly syndicated loan and CLO management business...
Read Story
|
From the second quarter Phoenix Management “Lending Climate in America” survey results reveals optimism in the U.S. economy with results for the near-term economy exceeding pre-pandemic predictions for the first time since the country shutdown due to...
Read Story
|
Sterling Bancorp made a capital investment in Finitive, a New York based financial technology firm. Founded in 2017, Finitive operates a data-driven platform that provides institutional investors with direct access to curated private credit...
Read Story
|
Gordon Brothers has been engaged by Danish Salling Group, owner of the Netto chain, to exclusively manage the store sell-out program of the Polish Tesco stores and fulfil the mergers and acquisitions process. Following Tesco’s restructuring decision...
Read Story
|
KKR signed an agreement to acquire a majority position in ERM, the world’s largest pure-play sustainability consultancy. KKR will acquire its position in the company from OMERS Private Equity and Alberta Investment Management Corporation (AIMCo)...
Read Story
|
Monroe Capital closed a $455 million term debt securitization known as Monroe Capital MML CLO XI, LTD. The term financing was Monroe’s sixth CLO completed since March 2018 and is secured by a portfolio of middle market senior secured loans. Monroe...
Read Story
|
Cerebro Capital, a commercial loan platform, released its Q1 2021 survey on non-bank lending for middle-market commercial and industrial (C&I) loans. The results are paired with the Federal Reserve's 1Q21 survey of commercial banks to illustrate a...
Read Story
|
Bloomberg reported that defaults in the U.S. private credit market fell in Q1 2021 as the nation’s abating pandemic triggered a surge in economic growth, and investors hunting for yield grew more willing to finance struggling companies.According to...
Read Story
|
Monroe Capital has become a signatory to the United Nations-supported Principles for Responsible Investment (“PRI”) as part of its ongoing commitment to environmental, social and corporate governance (“ESG”) principles. The PRI works to understand...
Read Story
|
CIT Group won two Stevie® Awards for business excellence in the 19th Annual American Business Awards®. The awards include a Gold award for Company of the Year in Banking and a Silver award for Corporate Social Responsibility Program of the Year."CIT...
Read Story
|
The All Stars Project of Chicago (ASP of Chicago), a nonprofit organization that sponsors innovative Afterschool Development programs for inner-city youth in Chicago, announced that veteran business and philanthropic leader Ben Nortman, Executive...
Read Story
|
IDS announced it added four new customer wins during first quarter of 2021. They include two start-up equipment finance operations; Metropolitan Capital, a universal bank expanding into asset-based lending (ABL); and a top five U.S. bank, which...
Read Story
|
SSG Capital Advisors acted as the investment banker to South Moon Sales, Inc., d/b/a South Moon Under in the sale of substantially all of its assets to an affiliate of Ames Watson LLC. The transaction was effectuated through Article 9 of the Uniform...
Read Story
|
Jefferies Credit Partners announced the expansion of its capital formation capabilities and its investor relations team with the addition of two senior hires. Jefferies Finance is a joint venture of Jefferies Financial Group and MassMutual.Charles...
Read Story
|
IDS, a leading provider of enterprise mission-critical solutions for the secured finance industry, recently completed its annual System and Organization Controls (SOC) audit and received validation reports for SOC 1® Type 2, SOC 2® Type 2 and SOC 3®....
Read Story
|
Hilco Industrial Acquisitions, an Amsterdam-based Industrial Asset Disposition and Acquisition Company, acquired all Machinery & Equipment from the Swiss-based CMO Legacy Pharmaceuticals. After several years of expansion, the Swiss company was forced...
Read Story
|
The 2021 institutional loan default rate forecast has been lowered to 2.5% from 4.5%, according to a new Fitch Ratings report."Operating conditions are starting to improve due to the ramp-up in coronavirus vaccinations and the easing of restrictions...
Read Story
|
IDS, a leading provider of enterprise mission-critical solutions for secured finance announced the Metropolitan Capital Bank & Trust has selected IDS ABL to support their small to medium business customers access to working capital through an easy to...
Read Story
|
The Risk Management Association (RMA) and Finastra announced a strategic initiative to advance commercial banking risk rating frameworks for U.S. financial institutions. Through this partnership, RMA Dual Risk Rating scorecards will be available...
Read Story
|
MidCap Financial raised more than $800 million of new equity from a diverse group of global investors that included Apollo clients, including Athene as well as pensions, sovereign wealth funds and other leading institutions.Proceeds from the raise...
Read Story
|
Gordon Brothers and Ritchie Bros. have created a formal joint venture, the Gordon Brothers & Ritchie Bros. Alliance. The Alliance provides end-to-end asset advisory and asset remarketing services to the insolvency and restructuring market in...
Read Story
|
TrueRate, a debt placement marketplace that optimizes the commercial real estate lending experience by creating true markets in real time, announced its public launch into the market. With a number of the top lenders in the United States as partners...
Read Story
|
US Capital Global announced the group’s continued international expansion with a new office about to open in Abu Dhabi, providing a gateway to the Middle East. The Abu Dhabi branch is due to open next month, following US Capital Global’s recent...
Read Story
|
SSG Capital Advisors acted as the investment banker to New Hampshire Plastics, LLC in the sale of substantially all of its assets to Grimco, Inc. (“Grimco”). The transaction closed in March 2021.New Hampshire Plastics is a leading manufacturer of...
Read Story
|
Great Rock Capital announced the upsize of its leverage facility with KeyBank. The upsized facility includes the addition of new partners Huntington National Bank, First Foundation Bank, and Hitachi Capital America Corporation.“In executing the plan...
Read Story
|
LBC Credit Partners announced the final closing of LBC Credit Partners V, L.P. (“LBC V”), and a fund raised contemporaneously adding $808 million of equity commitments to the firm’s capital base. To date, LBC V has funded 28 investments and with...
Read Story
|
eCapital Corp. achieved substantial growth in 2020 and consolidated a total of eight acquired entities into a simplified corporate structure. In its 2020 growth surge eCapital provided its clientele access to over $4 billion in financing across 80...
Read Story
|
For decades, both Ritchie Bros. and Rouse Services have been serving the equipment and truck industries with their respective appraisal businesses. With Ritchie Bros.' acquisition of Rouse last year, the company has now combined these two appraisal...
Read Story
|
Commercial and specialty finance veterans Mark Seigel, Evan Nadler and Tony Liobis announce the launch of Crown Partners, an independent advisory firm specializing in $5 to $75 million senior credit facilities and loan products for U.S. companies in...
Read Story
|
Mitsubishi UFJ Lease & Finance Co., Ltd. (MUL) and Hitachi Capital Corporation (HC) have merged to form Mitsubishi HC Capital Co., Ltd.As a result of this merger, Mitsubishi HC Capital will be one of the largest global players in the industry in...
Read Story
|
Getzler Henrich's Mark D. Podgainy is participating on a panel hosted by the American Bankruptcy Association at its Annual Spring Meeting 2021 entitled "Dealing with the Insolvent or Near-Insolvent Hotel Debtor — Debtor and Creditor Perspectives...
Read Story
|
Golub Capital BDC originated $234.7 million in new middle-market investment commitments during the three months ended March 31, 2021. Approximately 75% of the new middle-market investment commitments were one stop loans, 24% were senior secured loans...
Read Story
|
Chesswood Group Limited, a North American commercial equipment finance provider for small and medium-sized businesses, announced it has entered into a definitive agreement to merge its subsidiary Blue Chip Leasing Corporation with Vault Credit...
Read Story
|
IDS, a leader in enterprise mission-critical solutions for secured finance, has agreed to acquire White Clarke Group, a leading provider of retail, fleet, wholesale and asset finance solutions for the automotive and equipment finance markets. The two...
Read Story
|
Jaguar Freight, a leading global freight forwarder and U.S-based NVOCC., together with King Trade Capital, the largest purchase order finance company in the U.S., have announced the addition of a new trade and purchase order finance solution to...
Read Story
|
Bank of America acquired Axia Technologies (“AxiaMed”), an industry-leading health care payment and technology company focused on facilitating secure patient payments.The acquisition will deepen and expand Bank of America’s payment offerings for...
Read Story
|
Horizon Technology Finance Management, advisor for Horizon Technology Finance Corporation, announced that on March 4, 2021 it entered into an agreement with Waterfall Asset Management, LLC to originate and manage a venture debt portfolio. Horizon...
Read Story
|
CapitalPlus Construction Services launched a new Materials Financing product to help contractors and subcontractors in all trades access mission-critical materials without tying up their capital.“The cash flow of companies in the construction...
Read Story
|
The March trailing 12-month institutional leveraged loan default rate stands at 3.9%, according to a new Fitch Ratings report."The current 2021 forecast is 4.5%, but if market access remains as open and issuer-friendly as it has been, the rate will...
Read Story
|
Wells Fargo entered into a definitive agreement to sell its Corporate Trust Services (CTS) business to Computershare. The transaction is expected to close in the second half of 2021, subject to customary closing conditions. Under the terms of the...
Read Story
|
The Office of the Comptroller of the Currency (OCC) selected Kelly Skalicky, CEO and president, Stearns Bank along with six additional new committee members, to serve on its Minority Depository Institutions Advisory Committee (MDIAC). The primary...
Read Story
|
Antares launched its fifth annual outlook survey, Compass 2021 presenting analysis of perspectives on the middle market from portfolio companies, private equity sponsors and investors.The report suggests confidence in the U.S. economy and private...
Read Story
|
Bloomberg reported that Credit Suisse CEO Thomas Gottstein signaled he would consider further separating the asset-management unit from the rest of the bank after the Greensill Capital collapse. According to the Bloomberg report, Credit Suisse is...
Read Story
|
Oaktree Specialty Lending Corporation announced the closing of the previously announced merger with Oaktree Strategic Income Corporation (“OCSI”), with OCSL as the surviving company. Based on December 31, 2020 financial information, the combined...
Read Story
|
Bryant Park Capital announced that Healthcare Funding Partners, LLC (HFP) recently closed on a senior secured debt transaction with a global asset management firm with more than $100 billion in assets under management.BPC served as the exclusive...
Read Story
|
Citizens M&A Advisory served as the exclusive financial advisor to trustaff Management, Inc. and CardioSolution on their recapitalization by Cornell Capital and Trilantic North America, two New York-based private equity firms.Founded in 2002...
Read Story
|
The first quarter Phoenix Management “Lending Climate in America” survey results reveal the third stimulus package will cause inflationary pressure in the U.S. economy.The third stimulus package includes nearly $2 trillion in coronavirus relief funds...
Read Story
|
SSG Capital Advisors acted as the investment banker to Utica Leaseco on the sale of the assets of Alta Devices (Alta) to Ubiquity Solar Inc. The assets included intellectual property, research and development, production equipment, and inventory. The...
Read Story
|
Stonebriar Commercial Finance is celebrating its sixth anniversary this week, having closed another record year with new funded volume of $1.43 billion in structured leases and loans, and driving a 36% year-over-year increase in operating income....
Read Story
|
Citizens M&A Advisory served as the exclusive M&A advisor to Tube Processing Corporation in its sale of its Commercial Tube Processing Division (CTP) to Nelson Global Products, a portfolio company of Wind Point Partners. Established in 1974, CTP is a...
Read Story
|
Fourshore Partners acquired a majority stake in Genesis Capital Finance, a specialty finance company that provides commercial loans to independent owner operators in the long-haul trucking industry.Established in 2011, Genesis Capital Finance has...
Read Story
|
Aiming to improve the returns to creditors from inefficient and slow asset auctions, Revitalization Partners has developed a proprietary new digital marketing system to augment its expertise in corporate restructuring and receiverships. RP’s Asset...
Read Story
|
NXT Capital announced the final closing on NXT Capital Senior Loan Fund VI (L), LP (SLF VI Levered or the Fund). SLF VI Levered will have approximately $1 billion in fund capacity from equity commitments combined with expected leverage. The addition...
Read Story
|
36th Street Capital Partners announced the successful securitization of equipment loans and leases through a private loan transaction with pension and insurance companies as lenders. The Transaction involves the securitization of $138 million of...
Read Story
|
Cerberus Capital Management announced that its middle-market direct lending platform, Cerberus Business Finance, completed the final close of its latest flagship fund, Cerberus Levered Loan Opportunities Fund IV (“Fund IV”). Fund IV closed with $2.4...
Read Story
|
Monroe Capital was selected as the recipient of three Private Debt Investor (“PDI”) awards, including the 2020 Lower Mid-Market Lender of the Year; Lender of the Year; and CLO Manager of the Year awards, in the Americas. PDI is a global independent...
Read Story
|
Hilco Streambank successfully facilitated the private sale of substantially all of the assets of Varentec to Sentient Energy, a subsidiary of Koch Engineered Solutions (KES). The acquisition included all of Varentec's intellectual property, inventory...
Read Story
|
Bloomberg reported the Federal Reserve and other bank regulators are signaling new warnings for the U.S. economy, stating businesses hardest hit by Covid-19 are sitting on $1 trillion of debt and a high percentage of the debt is at risk of going bust...
Read Story
|
Hilco Global announced the completion of its “Hilco Helps Warm the Winter” coat giveaway campaign by donating an additional 3,500 brand new winter coats to underserved residents in Jersey City, NJ and throughout the Little Village neighborhood in...
Read Story
|
Monroe Capital announced that it has sold a passive minority equity stake to Bonaccord Capital Partners (“Bonaccord”), a division of Aberdeen Standard Investments (“ASI”). Terms of the investment were not disclosed. Bonaccord's investment will...
Read Story
|
Context Business Lending announced the launch of its official E-Commerce Division. With online retail sales skyrocketing as a result of the Pandemic, many E-commerce companies and distribution centers have found themselves without viable working...
Read Story
|
Mitsubishi UFJ Financial Group (MUFG) acted as a structuring lead on Starwood Property Trust Inc.'s first project finance collateralized loan obligation (CLO) – STWD 2021-SIF1.The deal also represents MUFG's first structuring lead mandate on a...
Read Story
|
Limbach Holdings entered into new credit agreements led by Wintrust Financial, together with a syndicate of commercial financial institutions. The Credit Facilities consist of a $25.0 million revolving credit facility (including a $5.0 million letter...
Read Story
February 26, 2021, 07:35 AM
|
Solar Capital Partners announced that it will change its name to SLR Capital Partners (“SLR” or “the Advisor”), effective February 25, 2021. The new name, which utilizes a common brand across its affiliates and specialty finance investment teams...
Read Story
February 25, 2021, 08:09 AM
|
An affiliate of Peak Rock Capital, a leading middle-market private investment firm, announced that it has partnered with Neptune Financial ("NepFin") to expand capital access and provide financing solutions to middle market and growth-oriented...
Read Story
February 25, 2021, 06:19 AM
|
B. Riley Financial announced the addition of a Compliance, Risk and Resilience practice to its financial consulting division, B. Riley Advisory Services. Scott Corzine and Duane Lohn join B. Riley Advisory Services to lead a team of experienced risk...
Read Story
February 24, 2021, 08:10 AM
|
Freeport Financial Partners announced the appointments of James Colletti and Ryan VanDagens as Associates, responsible for sourcing, structuring, and managing middle-market debt investments for the Freeport loan funds. Both Mr. Colletti and Mr....
Read Story
February 22, 2021, 05:00 AM
|
Biddeford Holdings LLC, a partnership between Gordon Brothers and New Mill Capital, acquired the real estate and machinery and equipment of a producer and marketer of packed bakery food. The assets include company-owned real estate and the machinery...
Read Story
February 19, 2021, 07:55 AM
|
Otterbourg P.C. has named Thomas P. Duignan co-chair of the firm’s Finance Department.Duignan represents many prominent banks, commercial finance companies and other institutional lenders in connection with a wide range of transactions. He will join...
Read Story
February 19, 2021, 07:30 AM
|
White Oak Global Advisors announced the firm, together with its affiliates, funded $2.7 billion in loans across 119 borrowers in 2020. As companies seek support, White Oak continued to meet the nuances of their client’s business needs through...
Read Story
February 18, 2021, 08:00 AM
|
LQD Business Finance launched development of the world’s first Bitcoin business lending platform. This cutting-edge platform will make LQD Business Finance the first company to use Bitcoin as currency for commercial loans.While Bitcoin can be used as...
Read Story
February 18, 2021, 07:50 AM
|
American Equity Investment Life Holding Company and Adams Street Partners reached an agreement to form a joint venture for co-developing insurer capital-efficient products in middle market credit, with American Equity initially committing up to $2...
Read Story
February 18, 2021, 07:47 AM
|
IDS, a leading provider of asset and equipment finance technology has completed the acquisition of William Stucky and Associates (WSA), the leading provider of ABL and factoring software. The combination of the two companies creates a powerful, cloud...
Read Story
February 17, 2021, 08:09 AM
|
Citizens M&A Advisory served as the exclusive M&A advisor to Bionix Development Corporation on its recapitalization by Argosy Private Equity. Bionix, headquartered in Toledo, Ohio, is a leading developer of innovative healthcare products for...
Read Story
February 17, 2021, 06:00 AM
|
Gordon Brothers has published a two-part series of articles examining current supply stresses and how the prolonged effects of the COVID-19 pandemic continue to disrupt global trade. Author Ulos Anderson, Senior Managing Director, Commercial &...
Read Story
February 11, 2021, 07:48 AM
|
Carl Marks Securities served as financial advisor to Hawkins Point in the sale of the leading life sciences consultancy to Verista, a transformative compliance and automation solutions organization for the life sciences industry. Financial terms of...
Read Story
February 11, 2021, 07:00 AM
|
Bardin Hill Investment Partners announced the successful final close of the Bardin Hill Opportunistic Credit Fund, LP and a parallel side-car vehicle (collectively, the “Strategy”) with total commitments of approximately $600 million. The firm’s...
Read Story
February 10, 2021, 08:00 AM
|
Getzler Henrich & Associates announced that it has once again been recognized for its outstanding work, having received the Turnaround Atlas Award Restructuring of the Year for Non-Profit Restructuring from the Global M&A Network. This year's award...
Read Story
February 10, 2021, 07:50 AM
|
Clear Thinking Group announced that the U.S. Bankruptcy Court for the District of Minnesota has approved its retention by Stock+Field under section 363 of the US Bankruptcy Code, and that Partner Michael Wesley will serve as Chief Restructuring...
Read Story
February 05, 2021, 07:43 AM
|
Ares Acquisition Corporation announced the closing of its initial public offering of 87,000,000 Class A ordinary shares at a price of $10.00 per share and the sale of an additional 13,000,000 Class A ordinary shares at $10.00 per share pursuant to...
Read Story
February 05, 2021, 07:35 AM
|
Barings served as Lead Arranger and sole lender of a senior secured credit facility to support the combination of Loftware and NiceLabel. Loftware, Inc., the global leader in Enterprise Labeling and Artwork Management solutions and a portfolio...
Read Story
February 05, 2021, 06:00 AM
|
EisnerAmper announced that the partners and staff of certified public accounting firm Goldin Peiser & Peiser, LLP, (“GPP”) have joined EisnerAmper LLP.Founded in 1994 and based in Dallas, Texas, GPP has eight partners and a staff of 75. The firm...
Read Story
February 04, 2021, 07:00 AM
|
Catalio Capital Management, a multi-strategy life sciences investment firm, announced the launch of their Credit Opportunities strategy to expand the scope of the firm’s investments across the biomedical technology industry and meet the growing...
Read Story
February 03, 2021, 07:50 AM
|
LBC Credit Partners provided a senior secured credit facility to support LightBay Capital’s investment in Rancho Family Medical Group.The investment from LightBay will allow Rancho Family to invest in new and existing care centers, as well as...
Read Story
February 03, 2021, 07:40 AM
|
Hilco Global has issued a timely and relevant report examining the shift in the balance of value between tangible and intangible assets that has taken place among large corporations, and how data driven insights and thorough management of a...
Read Story
February 02, 2021, 07:50 AM
|
Robbins, Salomon & Patt announced that Andrew M. Sachs, Chief Operating Officer, has taken the firm’s reins as Chief Executive Officer effective January 1, 2021.“I couldn’t be more pleased to pass the gavel to Andy,” former CEO Richard L. Gayle said....
Read Story
February 02, 2021, 07:44 AM
|
A&G Real Estate Partners captured two major awards at the 12th Annual Turnaround Atlas Awards Ceremony, a virtual event held on January 22, 2021. Most notably, the firm won the coveted “Outstanding Restructuring Real Estate Firm of the Year” award at...
Read Story
February 02, 2021, 07:00 AM
|
PacWest Bancorp and Pacific Western Bank announced the first step of a Senior Leadership Transition Plan to be realized over the next three years. The plan involves the retention of Matthew P. Wagner as President and Chief Executive Officer through...
Read Story
February 01, 2021, 07:19 AM
|
Credit Acceptance Corporation announced the completion of a $100.0 million asset-backed non-recourse secured financing (the “Financing”). Pursuant to this transaction, the company contributed approximately $125.1 million of loans to a wholly-owned...
Read Story
February 01, 2021, 07:00 AM
|
Antares closed more than 220 transactions in 2020, issuing nearly $14 billion in financing commitments to middle market private equity-backed companies. In a record Q4, the firm closed 120 transactions with commitments of $9.3 billion, supporting the...
Read Story
January 29, 2021, 07:38 AM
|
CIT Group received a score of 100 on the Human Rights Campaign Foundation's 2021 Corporate Equality Index, the nation's foremost benchmarking survey and report measuring corporate policies and practices related to LGBTQ workplace equality for the...
Read Story
January 29, 2021, 07:15 AM
|
Private credit investment manager WhiteHawk Capital Partners, LP (“WhiteHawk”) launched in 2020 with a focus on providing asset-based financing solutions to primarily middle market companies in need of liquidity and growth capital.WhiteHawk is led by...
Read Story
January 28, 2021, 08:20 AM
|
B. Riley Advisory Services was named Middle Market Turnaround Consulting Firm of the Year for its outstanding leadership in restructuring. The firm was also awarded in several individual deal categories at the 12th Annual Turnaround Atlas Awards...
Read Story
January 28, 2021, 06:00 AM
|
Marathon Asset Management announced the final close for its Marathon Secured Private Strategies Fund, which was oversubscribed with approximately $900 million in commitments. The fund will invest in a diversified portfolio of asset-based loans across...
Read Story
January 26, 2021, 08:35 AM
|
SG Credit Partners has started a collateral-based lending division and hired Nathalie Butler to be Managing Director, Underwriting to lead this group. Butler has over 20 years of experience including asset valuation, disposition and most recently...
Read Story
January 26, 2021, 08:30 AM
|
Monroe Capital Corporation announced that it has closed a public offering of $130 million aggregate principal amount of 4.75% notes due 2026 (the “Notes”).The Company intends to use the net proceeds from this offering to redeem all of its outstanding...
Read Story
January 26, 2021, 07:35 AM
|
Tree Line Capital Partners announced the expansion of its lower middle-market direct lending platform adding a Small Business Investment Company (SBIC), an Austin, TX office and three new team members. 2020 presented significant volatility and market...
Read Story
January 25, 2021, 08:13 AM
|
Hudson Avenue Partners, a Detroit and New York-based advisory firm specializing in designing, structuring and raising debt and equity capital facilities within the middle market, announced its official launch.Founded by seasoned investment banking...
Read Story
January 22, 2021, 08:30 AM
|
Clear Thinking Group has been named “Restructuring Advisory Firm of the Year - USA” as part of Finance Monthly’s 2020 Global Awards. The Global Awards highlight the outstanding work done by financial advisors and organizations at an international...
Read Story
January 22, 2021, 07:20 AM
|
SSG Capital Advisors acted as the investment banker to Green’s Natural Foods, Inc. in the sale of its equity interests to Hudson Equity Partners, LLC. The transaction closed in December 2020. Green’s is a branded lifestyle chain of organic and...
Read Story
January 15, 2021, 08:00 AM
|
NXT Capital closed a senior credit facility in support of an affiliate of Peak Rock Capital’s acquisition of Shipley Do-Nuts. NXT Capital acted as the Sole Lead Arranger and Administrative Agent on this transaction. Shipley Do-Nuts is a franchisor of...
Read Story
January 13, 2021, 07:00 AM
|
Middle market companies took advantage of newfound clarity in crisis and are poised not just for a return but a renaissance. According to the 2021 BDO Middle Market CFO Outlook Survey, CFOs anticipate the new year will bring recovery and new...
Read Story
January 12, 2021, 08:00 AM
|
DFG Investment Advisers announced that it has changed its name to Vibrant Capital Partners. The new name unifies the firm with its CLO business and several of its investment vehicles, which have operated under the Vibrant brand since 2012. In...
Read Story
January 11, 2021, 07:00 AM
|
Rating Outlooks have turned Negative for many non-bank financial institution (NBFI) sub-sectors compared to the start of 2020, reflecting negative pressures from the operating environment on asset quality, earnings and support-driven ratings, says...
Read Story
January 06, 2021, 08:30 AM
|
Ted Gavin, Managing Director of Gavin/Solmonese LLC, announced he will host his own talk show on the leading network for original live internet talk radio, VoiceAmerica. Business/disrupted will air live on VoiceAmerica Business on Mondays beginning...
Read Story
January 06, 2021, 08:15 AM
|
In a year filled with unforeseen and unparalleled challenges, small and midsize U.S. business leaders are showing resilience by remaining nimble, accelerating digital adoption and using lessons learned to plan for continued economic uncertainty...
Read Story
January 06, 2021, 07:15 AM
|
Armstrong Teasdale announced its intent to establish a physical presence in Wilmington, Delaware. This marks the firm’s seventh office opening in the past two and a half years. Armstrong Teasdale will initially welcome a team of four partners, with...
Read Story
January 05, 2021, 08:15 AM
|
The staff of ABL Advisor would like to extend Happy New Year wishes to all of our readers and advertisers. Thank you for your loyalty and goodwill throughout 2020! We will return with the Daily eNews Blast on Monday, January 4, 2021.ABL Advisor's...
Read Story
December 30, 2020, 07:00 AM
|
The American Institute of CPAs (AICPA) is a strong advocate of additional relief for small businesses and worked in recent months to prepare CPA firms for the next round of Paycheck Protection Program (PPP) funding through the development of...
Read Story
December 29, 2020, 08:15 AM
|
President Donald Trump signed into law H.R. 133, a $2.3 trillion coronavirus relief and government funding bill into law. The spending package provides coronavirus emergency response and relief, including extending programs for Americans who are out...
Read Story
December 28, 2020, 09:19 AM
|
The staff of ABL Advisor would like to extend our best wishes for a happy holiday season and our sincere thanks to all of our readers and advertisers for your loyalty and goodwill throughout the year! Our offices will be closed Thursday, Dec. 24 and...
Read Story
December 24, 2020, 07:00 AM
|
GS Investment I, LLC, a special purpose vehicle and indirect subsidiary of GreenSky, Inc. entered into Amendment No. 3 to the Warehouse Credit Agreement, dated May 11, 2020 (the "Credit Agreement"), by and among the SPV, as borrower, the lenders...
Read Story
December 23, 2020, 08:00 AM
|
The global coronavirus pandemic hit small businesses especially hard despite the federal government programs tailored to pumping new capital into credit markets. But according to The Wall Street Journal, the pandemic masked a gradual contraction in...
Read Story
December 21, 2020, 08:55 AM
|
ORIX Corporation USA (ORIX USA), the Americas business of Tokyo-based ORIX Corporation (ORIX), announced that wholly-owned subsidiary, Boston Financial Investment Management (Boston Financial), completed the acquisition of Boston Capital’s low-income...
Read Story
December 18, 2020, 07:00 AM
|
Widespread vaccine availability later in 2021 will alleviate pressures on global structured finance (SF) asset performance by reducing the duration of the pandemic and likelihood of lockdown measures, mitigating downside risk in 2H21, Fitch Ratings...
Read Story
December 16, 2020, 09:05 AM
|
Sidley represented Invitation Homes Inc. in a $3.5 billion sustainability-linked syndicated credit facility agented by Bank of America, N.A., with BBVA USA acting as Sustainable Agent and Coordinator. The credit facility consists of a US$1 billion...
Read Story
December 16, 2020, 08:44 AM
|
The year 2021 is shaping up to be a strong and supportive one for leveraged finance, led primarily by merger-and-acquisition (M&A) and refinancing activity, according to the Capital Markets group at Mitsubishi UFJ Financial Group (MUFG). Key members...
Read Story
December 15, 2020, 08:34 AM
|
More than half of business executives (54 percent) say they expect some negative impact to their organizations if a renewed round of economic stimulus does not materialize by early 2021, according to the fourth-quarter AICPA Economic Outlook Survey....
Read Story
December 14, 2020, 08:49 AM
|
Kimbell Royalty Partners, LP, a Delaware limited partnership (the “Partnership”), entered into Amendment No. 2 (the “Second Amendment”) to the Partnership’s existing Credit Agreement, dated as of January 11, 2017 (as amended by that certain Amendment...
Read Story
December 14, 2020, 08:45 AM
|
Wolters Kluwer Governance, Risk & Compliance (GRC) has signed an agreement to acquire eOriginal, a leading provider of cloud-based digital lending software, for approximately $280 million in cash.The acquisition extends GRC Compliance Solutions’...
Read Story
December 11, 2020, 08:30 AM
|
Carlson Capital, L.P., an alternative asset management firm, announced that it reached a strategic agreement with Jefferies Group LLC and structured credit investor Hildene Capital Management, LLC to support the new issuance of CLOs on Carlson’s...
Read Story
December 11, 2020, 08:15 AM
|
The Q3 2020 Asset-Based Lending Index reflects improving confidence for lenders, fears of a double dip downturn subsiding for now, and exhibits the continuing impact of PPP funds distributed in April. The Q3 rebound of the U.S. economy lead to a GDP...
Read Story
December 11, 2020, 08:10 AM
|
From the fourth quarter Phoenix Management “Lending Climate in America” survey results reveal a slow and choppy recovery after COVID-19.While the majority of lenders surveyed seem to believe economic recovery after COVID-19 to be slow and choppy, the...
Read Story
December 10, 2020, 08:30 AM
|
Lannett Company, Inc. announced the closing of a $30 million asset-backed revolving credit facility with Wells Fargo Bank, National Association."Completing this transaction enhances our financial flexibility, supports our ability to invest in growth...
Read Story
December 08, 2020, 08:50 AM
|
Runway Growth Capital LLC ("Runway"), a provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, announced the close of a senior secured term loan of $40 million to FiscalNote, a global...
Read Story
December 08, 2020, 08:30 AM
|
Fifth Third Business Capital closed an $8.5 million credit facility with BlastOne International, a privately held company specializing in the provision of leading products and services to the corrosion control industry throughout North American and...
Read Story
December 07, 2020, 08:49 AM
|
Zedcor Inc. announced that the Company has entered into an amended and restated loan and security agreement with Maynbridge Capital Inc. (the "Lender") in the principal amount of $17.3 million. The Agreement consolidates the Company's existing term...
Read Story
December 07, 2020, 08:45 AM
|
The American Institute of CPAs (AICPA) and a coalition of more than 560 organizations representing millions of employers and American workers sent Congressional leaders a letter urging passage of legislation making it clear that expenses related to a...
Read Story
December 04, 2020, 08:15 AM
|
eCapital Corp. announced it has acquired UK-based specialty lender and factoring company Advantedge Commercial Finance. The acquisition will allow eCapital to continue building out its full suite of specialty lending solutions and geographically...
Read Story
December 01, 2020, 08:50 AM
|
In the nine months since COVID-19 was declared a pandemic, Gibraltar Business Capital has remained committed to providing access to flexible, reliable and fast capital — closing 12 transactions and $130.5 million in new commitments. Credit facilities...
Read Story
December 01, 2020, 08:45 AM
|
The Federal Reserve Board announced an extension through March 31, 2021, for several of its lending facilities that were generally scheduled to expire on or around December 31.By backstopping critical short-term funding markets, these facilities are...
Read Story
December 01, 2020, 08:36 AM
|
Financial institutions will be exposed to long-lasting economic scars from the coronavirus pandemic, which could affect ratings in the longer term, Fitch Ratings says. This is likely to be negative for the credit profiles of most banks and for US...
Read Story
November 30, 2020, 09:10 AM
|
Stampede Drilling Inc. announced the closing of a loan facility in an amount of up to $2 million pursuant to a letter of offer dated October 28, 2020 with the Business Development of Canada ("BDC"). The BDC Facility has an interest rate equal to...
Read Story
November 30, 2020, 08:50 AM
|
COVID-19 has stalled the emergence of new credit fund investment strategies and has pushed managers to focus on their existing credit platform products, according to a new report from global law firm Ropes & Gray.The report, “Challenges and...
Read Story
November 25, 2020, 09:05 AM
|
Kredivo, the leading digital credit platform for retail borrowers across Indonesia, announced today that it has secured a debt facility of up to $100 million from Victory Park Capital (“VPC”), a leading global alternative investment firm, to fund...
Read Story
November 25, 2020, 09:00 AM
|
The Merchant Opportunities Fund, a Vancouver-based diversified credit opportunities fund focused on prudently compounding capital over the long-term, today announced that it has closed a revolving debt facility with the Bank of Montreal ("BMO"). The...
Read Story
November 25, 2020, 08:55 AM
|
Earlier this year, the American Institute of CPAs (AICPA) joined more than 170 organizations urging Congress to include a technical correction addressing the tax treatment of loan forgiveness under the Paycheck Protection Program (PPP) in its next...
Read Story
November 24, 2020, 07:50 AM
|
SSG Capital Advisors announced that Teresa C. Kohl will be inducted as a Fellow in the 32nd Class of the American College of Bankruptcy. Kohl is one of 37 new Fellows, insolvency professionals who are being honored and recognized for their...
Read Story
November 23, 2020, 08:29 AM
|
Mark Okada, Jack Yang, and Trey Parker Launch Value-Oriented, Durable-Alpha Asset Manager, Specializing in Private and Alternative Credit.Mark Okada, Jack Yang and Trey Parker, industry veterans and innovators in alternative credit investing, have...
Read Story
November 20, 2020, 08:30 AM
|
Pike Street Capital, LLC, a Seattle-based private equity firm, has announced the closing of Pike Street Capital Partners, a $237 million fund that will focus on control investments in industrial technology businesses. Fund investors include leading...
Read Story
November 20, 2020, 08:17 AM
|
B. Riley Financial announced the launch of B. Riley Financial Sponsors Group. The team will focus on developing and maintaining relationships with alternative capital managers, including private equity firms, family offices, sovereign wealth, credit...
Read Story
November 19, 2020, 08:30 AM
|
The American Institute of CPAs (AICPA) and over 80 additional organizations have expressed concern about the new Paycheck Protection Program (PPP) “Loan Necessity Questionnaires.” The questionnaires (SBA Forms 3509 & 3510) were recently established...
Read Story
November 19, 2020, 08:15 AM
|
The average net loss for portfolios of U.S. broadly syndicated loan (BSL) CLOs under Fitch's surveillance steadied in October at -1.4%, even while 2020 vintages reduced their average net gain, Fitch shows in its latest Monthly U.S. CLO Index. The...
Read Story
November 19, 2020, 07:30 AM
|
Lawrence Financial Group funded more than $75 million in the third quarter of 2020. Despite Pandemic fears, Lawrence has been able to provide capital to several companies. Highlights of Third Quarter:
$30 million to a manufacturer of adhesive...
Read Story
November 19, 2020, 07:00 AM
|
Monroe Capital (“Monroe”) today announced that it has provided approximately $450 million in direct financing support to over 20 women and minority-owned businesses.Ted Koenig, President & CEO of Monroe Capital, commented, “We wanted to make known...
Read Story
November 18, 2020, 09:00 AM
|
OakNorth, the next-generation artificial intelligence software business, today announces the successful deployment of its credit intelligence software with SMBC. The partnership with OakNorth will provide SMBC with superior insight into its...
Read Story
November 18, 2020, 08:55 AM
|
Gordon Brothers, the global advisory, restructuring and investment firm, scales up its special situations lending and investment platform through the addition of half a dozen key industry veterans from leading lending institutions across the globe....
Read Story
November 16, 2020, 08:30 AM
|
The expiration of forbearance programs will lead to increased delinquencies in the absence of further government stimulus, Fitch Ratings says. The impact of forbearance measures on asset performance is explored in Fitch's new report Coronavirus...
Read Story
November 13, 2020, 08:37 AM
|
Hilco Global has issued a midstream Q4 2020 report regarding the impact of the ongoing pandemic on the TV/Film/Broadcast and Concert/Theater/Tradeshow segments of the audio visual (AV) industry, and how the distinct challenges associated with each...
Read Story
November 13, 2020, 08:08 AM
|
Secured Finance Network’s (SFNet’s) 76th Annual Convention, "This Way Forward," Nov. 17-19 will cover financial, economic and political disruptions that banks and finance companies must navigate in the midst of a pandemic and aftermath of a...
Read Story
November 12, 2020, 08:15 AM
|
SG Credit Partners provided $3 million in a structured cash-flow facility to a sponsor-backed document scanning company that provides an array of workflow optimization services. The Company’s scanning service model, coupled with its cloud-based data...
Read Story
November 11, 2020, 09:10 AM
|
Context Business Lending announced the closing of seven (7) new revolving lines of credit over the last five months. These recent closings included a recent $20MM line to Universal Metals ("Universal") and parent company, Northwestern Holding...
Read Story
November 11, 2020, 09:00 AM
|
Northpoint Commercial Finance (“Northpoint”), a North American diversified financial services company, has broadened its financing solutions to include asset-based lending for U.S.-based middle-market companies. Northpoint is a market leader in...
Read Story
November 10, 2020, 08:30 AM
|
King Trade Capital’s Founder and Managing Partner, Edward King, will be the moderator and a panelist on the panel titled Disruption in Supply Chains & Mitigating Risks. The panel is scheduled for Thursday, November 17th at 10:15 AM CT during the...
Read Story
November 10, 2020, 08:03 AM
|
In the wake of the COVID-19 pandemic, remote work has gone from being a perk offered by employers to standard operating practice for many companies. A survey of 2,053 U.S. adults conducted in October by The Harris Poll on behalf of the American...
Read Story
November 09, 2020, 08:40 AM
|
Huntington Business Credit opened three new asset-based lending offices in Los Angeles, San Francisco and Portland, OR. The company also hired Tab French, Robert Alexander, Martin Valencia, David Lehner and John Kolb.French joined HBC as senior vice...
Read Story
November 06, 2020, 04:00 PM
|
Callodine Group (“Callodine”), an asset management firm focused on yield-oriented investment strategies, announced that it has entered into a definitive agreement to acquire the loan portfolio and assume the employees and operating costs of Gordon...
Read Story
November 06, 2020, 08:30 AM
|
Monroe Capital Corporation BDC announces third quarter 2020 financial results. Third Quarter 2020 Financial Highlights:
Paid quarterly dividend of $0.25 per share;
Current annual cash dividend yield to shareholders of approximately...
Read Story
November 06, 2020, 08:10 AM
|
Gerber Finance is expanding its portfolio and client offerings with the launch of Gerber+. This new division will service businesses seeking a higher level of funding ranging from $10 to $25 million. Gerber Finance currently focuses on facilities up...
Read Story
November 05, 2020, 08:30 AM
|
Bankrupt healthcare and food, beverage and consumer companies' relatively high reorganization multiples and stable cash flow profiles promoted mostly strong recoveries at the first-lien level, according to a new Fitch Ratings report."Healthcare and...
Read Story
November 04, 2020, 09:10 AM
|
Executive and board director compensation practices have come under more scrutiny as a result of the pandemic. BDO USA, LLP has released two separate reports, one on CEO and CFO compensation and one on board compensation, which explore how...
Read Story
October 30, 2020, 08:35 AM
|
Sterling National Bank's Asset Based Lending Group provided senior secured credit facilities totaling $20,000,000 to Canadian Bearings Ltd. The credit facilities will provide refinancing of existing debt as well as working capital for the company...
Read Story
October 30, 2020, 08:30 AM
|
Global business advisory firm EisnerAmper LLP and leading Real Estate technology consulting firm REdirect, Inc., have entered into a strategic alliance. This collaboration will leverage each firm’s deep resources and expertise to provide a holistic...
Read Story
October 29, 2020, 08:18 AM
|
Old Hill Partners provided $8 million in the form of a senior secured revolving-to-term credit facility to a specialty finance company that provides working capital to small businesses in the form of merchant cash advances. The facility was secured...
Read Story
October 28, 2020, 08:40 AM
|
Capitala Group, a leading provider of capital to lower middle market companies, announced today that it has made an investment in Mason West (the “Company”), the industry leader in engineered seismic restraint and vibration isolation products....
Read Story
October 26, 2020, 09:00 AM
|
Encina Capital Partners and an affiliate of certain funds managed by Oaktree Capital Management, L.P. (“Oaktree”) announced today that they have launched Encina Lender Finance, LLC (“ELF”), a new independent lender finance platform targeting...
Read Story
October 22, 2020, 08:30 AM
|
Hilco Redevelopment Partners (HRP) announced that the company will invest hundreds of millions of dollars to decommission, demolish and remediate the former PES Refinery site, a site that has been a source of pollution for more than 150 years. HRP...
Read Story
October 22, 2020, 07:40 AM
|
Fifth Third Bank announced its second equity investment in Bellwether Enterprise Real Estate Capital, LLC (Bellwether Enterprise), the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment Inc. (ECI). In addition...
Read Story
October 22, 2020, 07:00 AM
|
Fitch Ratings’ sector outlook for business development companies (BDCs) is worsening for 2021, driven by the expectation for weaker asset quality metrics and the potential for valuation volatility as a result of the challenging economic backdrop...
Read Story
October 21, 2020, 09:05 AM
|
BHI, a full-service commercial bank, announced that its Specialty and Sponsor Finance Group continued to maintain a high level of activity for new and existing clients during the peak of the global pandemic. The team’s most recent deals include a $55...
Read Story
October 20, 2020, 08:20 AM
|
Pretium and a group of its investors and funds managed by the Real Estate Equity and Alternative Credit strategies of Ares Management Corporation announced a strategic partnership to acquire Front Yard Residential Corporation, a leading provider of...
Read Story
October 20, 2020, 08:10 AM
|
First Eagle Alternative Credit, LLC ("First Eagle"), a leading alternative credit manager with $21 billion of AUM, today closed Lake Shore MM CLO III (“Lake Shore III”) at $318 million. The offering represents First Eagle’s third collateralized loan...
Read Story
October 19, 2020, 08:55 AM
|
Amerisource Business Capital announced the closing and funding of a $1,000,000 credit facility for a Texas based firm which provides repair and maintenance services to the petrochemical industry. The proceeds are being used to fund the company’s...
Read Story
October 19, 2020, 08:50 AM
|
Mitsubishi UFJ Financial Group (MUFG), one of the world’s leading financial groups, today announced that it will launch a Capital Markets Strategy group to advise and equip C-suite audiences with insights to anticipate, understand, and respond to...
Read Story
October 16, 2020, 08:15 AM
|
Middle market private companies in the Golub Capital Altman Index experienced year-over-year earnings growth of 14.9% and revenue growth of 1.1% during the first two months of the third quarter of 2020.Lawrence E. Golub, CEO of Golub Capital, said...
Read Story
October 16, 2020, 08:11 AM
|
Fitch Ratings has published its updated criteria for CLOs and corporate CDOs. At the same time, Fitch has published a feedback report, detailing responses received in respect of the exposure draft for the criteria report.The final criteria removed...
Read Story
October 16, 2020, 08:00 AM
|
The January 2021 launch of fallbacks for derivative contracts that reference Libor will still make it challenging for the industry to adopt new term rates referencing the Secured Overnight Financing Rate (SOFR) before Libor ceases to be quoted at end...
Read Story
October 13, 2020, 09:00 AM
|
Goldman Sachs BDC (“GSBD” or the “Company”) announced that it has completed its previously announced merger with Goldman Sachs Middle Market Lending Corp. (“MMLC”). The transaction has more than doubled GSBD’s asset base to $3.5 billion and has...
Read Story
October 13, 2020, 08:30 AM
|
Yieldstreet Private Business Credit (“PBC”), a provider of single and multi-tranche direct term loans to growing businesses and participations with specialty finance companies, banks, credit funds and private equity-backed companies has closed a...
Read Story
October 13, 2020, 08:04 AM
|
Hilco Global, the world’s premier authority on asset valuation, monetization, and advisory services, announced that they have been retained to assist in the liquidation of U.S. and international operations for Shop-Vac.Shop-Vac was established in...
Read Story
October 09, 2020, 08:59 AM
|
CVC Credit Partners announced that it has priced Apidos XXXIV, a Collateralized Loan Obligation (“CLO”) fund totalling $402.5 million. This is the second CLO fund CVC Credit has priced in the last month, following the pricing of Cordatus XVIII in...
Read Story
October 09, 2020, 08:00 AM
|
CIT Group Inc. Chairwoman and Chief Executive Officer Ellen R. Alemany has received the Leadership Legacy Award from the Center for Executive Succession at the University of South Carolina’s Darla Moore School of Business. The award honors building a...
Read Story
October 08, 2020, 09:20 AM
|
Encina Business Credit, LLC announced that it has provided a $75 million senior secured revolving credit facility to a leading global provider of risk management and operational support services to government and commercial clients.The senior secured...
Read Story
October 08, 2020, 09:15 AM
|
Citizens M&A Advisory served as the exclusive financial advisor to BV Investment Partners ("BV"), a Boston-based private equity firm focused on information and business services and communications industries, on its simultaneous acquisition of two...
Read Story
October 08, 2020, 09:10 AM
|
The owners of The Second City, the world’s premier brand in improvisation and sketch-based comedy entertainment and education, announced plans today to sell the iconic brand’s diversified business. This is only the second time in the comedy empire’s...
Read Story
October 07, 2020, 09:30 AM
|
Monroe Capital LLC (“Monroe”) was selected as the recipient of the 2020 Private Credit Strategy of the Year by the Pension Bridge Institutional Asset Management Awards. The award was presented to the firm’s Monroe Capital Senior Secured Direct Loan...
Read Story
October 07, 2020, 09:20 AM
|
SG Credit Partners provided $2.5 million to an enterprise SaaS platform with Recurring Revenue of more than $8 million. The company provides a complete end-to-end suite of CRM tools to clean, protect and enhance company and contact information...
Read Story
October 07, 2020, 09:00 AM
|
HPS Investment Partners, LLC, a leading global investment firm with $65 billion in assets under management, today announced the closing of its Mezzanine Partners 2019 Fund (the "Fund") with total investable capital of over $11 billion, including...
Read Story
October 06, 2020, 09:00 AM
|
CIT Group Inc. announced that its Asset-Based Lending business served as agent and sole lender on a $75 million revolving credit facility for Skillsoft, a global leader in learning and talent management solutionsBased in Boston, Massachusetts...
Read Story
October 01, 2020, 08:50 AM
|
Alternative investment managers (Alt-IMs) are seeing various unexpected benefits as a result of the economic fallout of the coronavirus pandemic, with the outlook for interest rates in most major economies remaining low through 2023 expected to fuel...
Read Story
October 01, 2020, 08:40 AM
|
White Oak Global Advisors, LLC announced it has entered a formal partnership with the Sustainability Accounting Standards Board (“SASB”), a global nonprofit founded to help businesses around the world identify, manage and report on a wide range of...
Read Story
October 01, 2020, 08:30 AM
|
Blank Rome LLP announced that Partner Lawrence F. Flick, II was elected to the Secured Finance Network (“SFNet”) Executive Committee for 2021, which is comprised of key leaders in the secured finance industry who will guide the association, make...
Read Story
October 01, 2020, 08:00 AM
|
Citizens announced that it is lead left arranger of a $125 million asset-based loan for Virginia Beach, VA-based Franchise Group, Inc. (Nasdaq: FRG).Franchise Group is an operator of franchised and franchisable businesses that continually looks to...
Read Story
September 30, 2020, 09:00 AM
|
Ironwood Funding, a leading operator in underwriting and financing the purchase of non-performing consumer loans, today announced it has secured an additional $40 million credit facility from funds and co-investment vehicles managed by Medalist...
Read Story
September 29, 2020, 09:10 AM
|
CIT Group Inc. announced the launch of a new commercial online banking platform, designed to maximize efficiency and agility for Community Association Banking customers. With new and enhanced features, the platform offers a robust suite of digital...
Read Story
September 29, 2020, 08:45 AM
|
Widespread upward revisions of US corporate sector-level post-lockdown recovery assumptions that would lead to mass rating actions post-2Q20 results are unlikely, given the cautious outlook on the pace of economic activity and sector fundamentals...
Read Story
September 28, 2020, 09:05 AM
|
Finitive, a private credit platform providing institutional investors with direct access to alternative lending investments, announced that QuadPay, the US-based payment installment platform, has secured a senior secured committed revolving line of...
Read Story
September 25, 2020, 09:00 AM
|
Encore Capital Group, Inc., an international specialty finance company, announced that it has completed the implementation of its new global funding structure.“The completion of our new global funding structure is a pivotal event in the evolution of...
Read Story
September 25, 2020, 08:00 AM
|
The American Institute of Certified Public Accountants (AICPA), its business and technology arm, CPA.com, and fintech leader Biz2Credit announced they are teaming up on a new platform, CPALoanPortal.com, to streamline the process for CPA firms...
Read Story
September 23, 2020, 09:05 AM
|
Companies spent the equivalent of around $15 billion extra a week on technology to enable safe and secure home working during COVID-19, reveals the 2020 Harvey Nash/KPMG CIO Survey. This was one of the biggest surges in technology investment in...
Read Story
September 23, 2020, 09:00 AM
|
Mike Sharkey, President, Fifth Third Business Capital recently announced his retirement following his highly successful career establishing and managing some of the most iconic businesses in the asset-based lending industry. In this exclusive...
Read Story
September 22, 2020, 09:30 AM
|
Wolters Kluwer Lien Solutions has won four 2020 International Business Awards (IBA), including two Gold-level awards, as part of the renowned Stevie Awards program for innovation in the below categories:
Best FinTech Solution: “iLien Motor Vehicle...
Read Story
September 22, 2020, 09:00 AM
|
The TTM U.S. institutional term loan default rate is expected to finish higher for the ninth consecutive month, potentially reaching 4.6% from 4.3% at the end of August, according to a new Fitch Ratings report."September volume registers a modest $1...
Read Story
September 21, 2020, 09:15 AM
|
The effect of COVID-19 on the asset-based lending (ABL) market became apparent in the second quarter as the industry’s most recent data reflect a 24.1-percent decline in total bank loans and 29.4-percent drop quarter over quarter in non-bank lending...
Read Story
September 17, 2020, 09:10 AM
|
For middle-market and small businesses, the COVID-19 pandemic is highlighting the vital importance of investing in new technology, facilitating remote work and maintaining the tech-savvy workforce needed to make it all happen, according to a new...
Read Story
September 17, 2020, 09:00 AM
|
Antares Capital Advisers LLC, a subsidiary of Antares Capital LP (together with its parent companies, “Antares”) announced the final closing of its inaugural Senior Loan Fund (“SLF”).The fund, which launched in December 2019, closed on September 14th...
Read Story
September 17, 2020, 08:50 AM
|
Wingspire Capital Holdings has provided a $40 million commitment to XL Funding, LLC, a wholly-owned subsidiary of the XLerate Group.XL Funding provides floorplan loans to auto dealers in more than a dozen markets, and will use the funding to...
Read Story
September 16, 2020, 09:05 AM
|
B. Riley Financial, Inc., a leading business advisory and financial services company, announced it has adopted new brand names across its subsidiary companies to provide greater external consistency and affiliation among the diverse stakeholders it...
Read Story
September 15, 2020, 09:05 AM
|
Gordon Brothers, the global advisory, restructuring and investment firm, has been engaged to sell silica mining and processing assets and plant equipment located in Arcadia, Wisconsin on behalf of Wisconsin Bank & Trust as secured lender. The sale...
Read Story
September 15, 2020, 08:50 AM
|
U.S. high yield default activity produced a modest $2.8 billion of volume since the end of July, the lowest level since the start of the coronavirus pandemic, according to a new Fitch Ratings report."The TTM default rate stands at 5.7%, up from 2.9%...
Read Story
September 15, 2020, 08:00 AM
|
Most U.S. broadly syndicated loan (BSL) collateralized loan obligations (CLOs) under Fitch Ratings' surveillance showed stable or improving portfolio metrics in August compared with July, as rating pressure on underlying loan issuers eased and LIBOR...
Read Story
September 14, 2020, 09:10 AM
|
Knowles Corporation, a provider of high-performance audio solutions, entered into a new Credit Agreement among the Company and one or more of its subsidiaries and a syndicate of other financial institutions including JPMorgan Chase Bank, N.A., as...
Read Story
September 09, 2020, 08:45 AM
|
Malfitano Partners continues to grow the resources available to help its clients with liability management and restructuring needs by expanding and entering into an exclusive strategic alliance with The Branford Group, a premier industrial asset...
Read Story
September 08, 2020, 08:30 AM
|
Strategic Data Center Fund Manager, LLC announced it has secured a revolving line of credit that converts into a permanent loan from Sunflower Bank. The credit facility will initially provide the ability to borrow up to $25,000,000. Over time, and...
Read Story
September 08, 2020, 08:25 AM
|
Purple Innovation, Inc., a comfort innovation company known for creating the "World's First No Pressure™ Mattress," announced that it has executed a new five-year $100 million senior secured credit facility with a group of financial institutions led...
Read Story
September 04, 2020, 08:50 AM
|
Business Development Corporation of America refinanced the $575.0 million syndicated revolving credit facility that it had entered into through a wholly-owned, consolidated special purpose financing subsidiary, BDCA Funding I, LLC ("Funding I"), with...
Read Story
September 04, 2020, 08:45 AM
|
Main Street Capital Corporation announced that it recently completed a new portfolio investment to facilitate the minority recapitalization of Superior Rigging & Erecting Co., a leading provider of rigging, steel erection and crane & equipment rental...
Read Story
September 02, 2020, 08:40 AM
|
Project finance in the United States has staged a vigorous recovery— aided by the ability of banks to provide liquidity, low funding costs, and a more liquid bond market—since the initial dampening effect of the COVID-19 pandemic, according to the...
Read Story
August 28, 2020, 08:10 AM
|
Monroe Capital LLC announced the closing of a $406.27 million term debt securitization known as Monroe Capital MML CLO X, LTD. The term financing was Monroe’s fifth CLO completed since March 2018 and is secured by a portfolio of middle market senior...
Read Story
August 27, 2020, 09:00 AM
|
New CMBS delinquencies for July 2020 totaled 283 loans ($8.05 billion) for a total of 871 ($20.1 billion) compared to 673 loans ($13.7 billion) as of June 30, 2020; some loans that were delinquent in June became current again in July. Hotel loans...
Read Story
August 26, 2020, 08:54 AM
|
Chubb and the National Center for the Middle Market (NCMM), housed at The Ohio State University Fisher College of Business, announced results from its second-quarter Middle Market Indicator (MMI) report, within which there is a special segment on the...
Read Story
August 26, 2020, 08:50 AM
|
Crestmark secured a total of $6,500,000 in ABL financial solutions for four new clients; Crestmark Equipment Finance provided $524,700 in one new lease transaction; Crestmark Vendor Finance provided $8,165,144 in 96 new lease transactions; and the...
Read Story
August 25, 2020, 08:00 AM
|
CBL Properties announced that the Company has entered into a Restructuring Support Agreement (the “RSA”) with certain beneficial owners and/or investment advisors or managers of discretionary funds, accounts, or other entities (the “noteholders”)...
Read Story
August 24, 2020, 08:10 AM
|
Wellfleet Credit Partners (“Wellfleet”), the performing credit business of Littlejohn & Co., LLC, announced the closing of Wellfleet CLO 2020-2, a $396.0 million collateralized loan obligation (CLO). Following the issuance of Wellfleet CLO 2020-2...
Read Story
August 24, 2020, 08:00 AM
|
U.S. high yield defaults tally just $0.7 billion so far in August, a significant decline from the $12.8 billion monthly average over the past four months, according to a new Fitch Ratings report."August default volume could reach nearly $3 billion...
Read Story
August 21, 2020, 09:10 AM
|
Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, provided its Third Quarter 2020 High-Yield and Bank Loan Outlook. Titled “The Impact of the Fed’s Corporate Credit Facilities,” the report...
Read Story
August 21, 2020, 09:07 AM
|
ING Capital LLC ("ING") led a $235 million syndicated financing on behalf of Auramet Trading and Auramet International (collectively, "Auramet"), a well-regarded precious metals merchant. The deal closed on August 7, 2020. ING acted as Mandated Lead...
Read Story
August 20, 2020, 09:05 AM
|
A recently completed economic impact study of Hilco Redevelopment Partners’ (HRP) proposed redevelopment of the closed former Philadelphia Energy Solutions (PES) refinery in South Philadelphia is projecting significant job creation and a positive...
Read Story
August 20, 2020, 08:00 AM
|
CIVC Partners, L.P. ("CIVC"), a Chicago-based middle market private equity firm focused on investments in business services industries, is pleased to announce the firm's investment in iVision, in partnership with Gabe Damiani, David Degitz and the...
Read Story
August 19, 2020, 08:50 AM
|
Commercial Finance Partners announced the closing of a $2,000,000 asset based loan for a national prescription drug supplier headquartered in Michigan. The borrower, faced with restrictive bank covenants, sought out Commercial Finance Partners to...
Read Story
August 17, 2020, 08:30 AM
|
CohnReznick LLP announced that Cynthia Romano and Chris Creger of its Restructuring & Dispute Resolution practice have been awarded the prestigious Turnaround Management Association (TMA) 2020 Turnaround and Transaction of the Year Award. The award...
Read Story
August 14, 2020, 08:50 AM
|
Gordon Brothers has released an article that discusses the outcome of the Paycheck Protection Program (PPP), including its impact on individuals, firms and lenders, as well as its aid for sectors most challenged by the COVID-19 pandemic. In the...
Read Story
August 14, 2020, 08:27 AM
|
Monroe Capital LLC was selected as the recipient of the 2020 Best U.S. Direct Lending Fund by Creditflux, a London-based global publication and leading information source for the rapidly evolving market for credit funds and CLOs. The award was...
Read Story
August 13, 2020, 08:55 AM
|
As the initial shockwaves of the global pandemic subside, middle market sponsors and lenders have proven supportive of their portfolio companies as the financial challenges caused as a result of stay-at-home orders began to crystalize, according to...
Read Story
August 13, 2020, 08:45 AM
|
BNP Paribas, a premier global bank, announced that it has closed a $100 million syndicated Revolving Credit Facility (“RCF”) structured as a sustainability-linked loan (“SLL”) with Empresas CMPC S.A. (“CMPC” or the “Company”), a Chilean pulp and...
Read Story
August 13, 2020, 08:15 AM
|
TCF National Bank announced the successful completion of its integration with Chemical Bank, creating a strong foundation to strengthen individuals, businesses and the community. TCF retired the Chemical brand and unveiled its new brand platform and...
Read Story
August 11, 2020, 07:45 AM
|
Funds managed by Ares Management Corporation’s Credit Group (collectively “Ares”) closed approximately $1.7 billion in commitments across 24 transactions during the second quarter and approximately $4.4 billion in commitments across 64 transactions...
Read Story
August 06, 2020, 09:19 AM
|
SG Credit Partners provided $2.5 million in working capital to a privately owned consumer debt collection agency.The Financing Situation: The Company needed capital quickly to move on opportunistic portfolio purchases as well as working capital...
Read Story
August 05, 2020, 08:45 AM
|
More than half (58 percent) of small business owners (SBOs) report they expect their revenue to decrease in 2020, even though 47 percent stated they did not have to close for any amount of time during the COVID-19 pandemic, according to results of TD...
Read Story
August 05, 2020, 08:00 AM
|
The continued deterioration in credit quality of issuers due to the coronavirus pandemic resulted in a large number of U.S. middle market (MM) CLOs failing a variety of tests for the first time in 2Q20, according to Fitch Ratings' latest U.S. MM CLO...
Read Story
August 04, 2020, 08:55 AM
|
Funds managed by Crestview Partners ("Crestview") announced an investment into Upwell Water LLC ("Upwell Water" or the "Company"), a San Francisco-based, water-focused specialty finance company. Upwell Water was founded to create one of the world's...
Read Story
|
SSG Capital Advisors, LLC ("SSG") acted as the investment banker to Hy-Ko Products Company ("Hy-Ko" or the "Company") in the sale of substantially all of its assets to Midwest Fastener Corporation. The transaction closed in July 2020. Headquartered...
Read Story
|
East West Bank and one participating lender closed on an $80 million capital call line of credit for Star Mountain Diversified Credit Income Fund III, LP (“SM3”), a fund that invests in small and medium-sized private businesses in the United States....
Read Story
|
ABL Advisor released a new video interview featuring Doug Winget, President, Huntington Business Credit who discusses the unique challenges the economy is presenting middle-market borrowers and asset-based lenders. Winget also discusses the...
Read Story
|
The COVID-19 pandemic is changing how consumers and businesses interact with financial institutions and new research shows that this trend will likely be permanent.According to the results of Citizens Bank’s inaugural Banking Experience Survey, half...
Read Story
|
Fitch Ratings' review of nearly 180 global non-bank financial institutions (NBFIs) since March in response to the coronavirus pandemic found balance-sheet intensive business models face greater pressure in 2020 than more balance-sheet light...
Read Story
|
Equifax has increased its leadership in commercial credit data solutions with the acquisition of Ansonia Credit Data (Ansonia), a leading provider of business credit, collections, and account receivable data used by financial institutions and other...
Read Story
|
Balboa Capital surveyed business owners to find out how many companies switched to remote work models due to the COVID-19 pandemic, and to see how effective the results have been. The survey, which was sent to a sample of small business owners in a...
Read Story
|
Gordon Brothers, the global advisory, restructuring and investment firm, has released an article that discusses the United States-Mexico-Canada trade agreement (USMCA) and outlines some of its most important implications for asset valuation.On the...
Read Story
|
George Souri, CEO of LQD Business Finance, a Chicago based tech-enabled commercial lender has been accepted into Forbes Finance Council, an invitation-only community for executives in accounting, financial planning, wealth and asset management, and...
Read Story
|
Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, announced that it has renewed and expanded its senior secured credit facility for Mersino Management, providing an additional $5.1 million of...
Read Story
|
ABL Advisor released a new video interview featuring Kathleen Lepak, Asset Based Lending Business Director, People’s United Business Capital, who discusses the challenges faced by credit underwriting and portfolio management teams in the COVID-19...
Read Story
|
Nomad Royalty Company Ltd. announced that it has entered into an agreement with The Bank of Nova Scotia, Canadian Imperial Bank of Commerce (CIBC) and The Royal Bank of Canada (RBC) for a $US50 million revolving credit facility with the option to...
Read Story
|
NetCents Technology Inc., a cryptocurrency payments technologies company, provide further information regarding the institutional credit facility that it received totaling $1.4 billion to power merchant settlements.NetCents has partnered with Bison...
Read Story
|
SSG Capital Advisors, LLC ("SSG") acted as the investment banker to PQ New York, Inc. and Subsidiaries d/b/a Le Pain Quotidien USA ("LPQ U.S." or the "Company") in the sale of select U.S. assets to Aurify Brands, LLC ("Aurify Brands"). The sale was...
Read Story
|
Ryan Davis, Managing Director of Valuation Services at Tiger Group, has been named a ‘40 Under 40’ recipient in the 2020 awards program from The Secured Finance Network (SFNet), the professional association of the secured lending industry.“The SFNet...
Read Story
|
Green Ivy Capital, LLC ("Green Ivy Capital"), an affiliate of Chicago Atlantic Group, LLC ("Chicago Atlantic"), announced today it acted as sole lead arranger and administrative agent on a new $30 million senior secured term loan facility (the "Term...
Read Story
|
Stamps.com Inc. (SDC) entered into an Amended and Restated Credit Agreement, dated as of June 29, 2020, by and among SDC, Wells Fargo Bank, National Association, JPMorgan Chase Bank, N.A., and Bank of America, N.A., the lenders from time to time...
Read Story
|
ABL Advisor released a new video interview featuring Michael Haddad, President, Capital Finance, Sterling National Bank. In this exclusive interview, Haddad discusses how new approaches to working with middle-market borrowers remotely can strengthen...
Read Story
|
East West Bank and four participating lenders closed on a 2-year $130 million senior unsecured revolving line of credit for Los Angeles-based broker dealer and investment firm Wedbush Securities Inc.The new facility refinances an existing $85 million...
Read Story
|
White Oak Commercial Finance LLC, an affiliate of White Oak Global Advisors LLC announced it provided an $81MM asset-based credit facility to the Aspire 42 group of companies; majority owned by Moss Ridge, a Sydney-based family office that manages a...
Read Story
|
Amerisource Business Capital announced the closing and funding of a $3,000,000 credit facility for an international occupational health services company based in Texas. The proceeds were used to refinance existing bank debt and support additional...
Read Story
|
White Oak Global Advisors, LLC, reiterated its commitment to responsible credit investing by dedicating additional resources to deploy capital in senior-secured, non-sponsored debt investments in companies that are focused on environmental and social...
Read Story
|
Santander Bank announced that its Commercial Banking division acted as joint lead arranger for a $175 million term loan and $50 million revolver to Purolite Corporation ("Purolite") to facilitate additional spending on capital projects and enhance...
Read Story
|
Ares Management Corporation, a leading global alternative investment manager, announced today the final closing of its Ares Special Opportunities Fund, L.P. (together with its parallel vehicles, “ASOF” or the “Fund”). The Fund was significantly...
Read Story
|
CVC Credit Partners announce that it has provided a $92 million multicurrency first lien credit facility to Calibre Scientific, the life sciences and diagnostics business owned by StoneCalibre. Funding provided by CVC Credit will be used to refinance...
Read Story
|
A new global business survey commissioned by Xerox Holdings Corporation shows an estimated 82 percent of the workforce in respondents’ organizations will have returned to the workplace in 12-18 months’ time, on average. In preparation for a return...
Read Story
|
White Oak Commercial Finance, LLC, an affiliate of White Oak Global Advisors, announced it funded over $600MM in credit facilities in 2019 and over $300MM year-to-date to diversified enterprises in North America, the UK, Europe, and Australia.White...
Read Story
|
ProSight Global, Inc. entered into a Credit Agreement, with Truist Bank (“Truist”), as administrative agent, issuing bank, and swingline lender. Suntrust Robinson Humphrey, Inc. and Citizens Bank N.A. (“Citizens”) are joint lead arrangers and...
Read Story
|
MFA Financial entered into a $500 million senior secured term loan facility, with Wilmington Trust serving as as administrative agent and collateral agent.The loans under the Term Loan Facility are expected to be funded on or about June 26, 2020 (the...
Read Story
|
The Federal Reserve Board announced it will be seeking public feedback on a proposal to expand its Main Street Lending Program to provide access to credit for nonprofit organizations. As with the existing Main Street Lending Program, which targets...
Read Story
|
The Brink’s Company announced an amendment to its existing credit agreement that provides long-term covenant relief and added flexibility to execute its strategic plan. The amendment changes the methodology for calculating the company’s leverage...
Read Story
|
Banks and independent lenders were enjoying a strong market for asset-based lending (ABL) with solid credit quality in the first quarter before the full impact of the COVID-19 pandemic was felt, according to data released today by the Secured Finance...
Read Story
|
U.S. Treasury Secretary Steven T. Mnuchin issued the following statement on the expansion of the Main Street Lending Program announced by the Federal Reserve Board: "The changes announced to the Main Street Lending Program are the result of an...
Read Story
|
Danaher entered into a new $2.5 billion 364-day revolving credit facility (the “Credit Facility”) with Bank of America, N.A., as Administrative Agent, and a syndicate of lenders from time to time party thereto, which replaces the existing $5.0...
Read Story
|
ABL Advisor released a new video interview featuring Ken Frieze, CEO of Gordon Brothers. In this exclusive interview, Frieze provides his insights into the impact the COVID-19 crisis has had on the asset-based lending community, his outlook for the U...
Read Story
|
US non-financial corporations issued a record $584 billion of investment-grade bonds through May, more than double the amount registered over the same time frame one-year prior. Bonds have been issued at meaningfully lower average rates, which should...
Read Story
|
A growing number of suppliers are using their receivables as a source of liquidity to alleviate financial strains in the wake of the coronavirus pandemic, according to Maureen Sullivan, Head of Supply Chain Finance at Mitsubishi UFJ Financial Group...
Read Story
|
Hercules Capital, Inc., the largest and leading specialty finance provider to innovative, venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced that...
Read Story
|
OakNorth, the next-generation credit and monitoring platform provider has announced its signing of a commercial agreement with PNC Bank, an American bank holding company and financial services corporation.Businesses need liquidity to overcome the...
Read Story
|
LQD Business Finance announced the LQD Power Up Program, an internal program devoted to creating new opportunities through internships and mentoring to underprivileged young adults in the Chicagoland area.George Souri, the company's CEO, made the...
Read Story
|
Acting Comptroller of the Currency Brian P. Brooks today expressed concerns about the effects of regional and local responses to COVID-19 on the federal banking system.
In letters to the National League of Cities, the U.S. Conference of Mayors, and...
Read Story
|
ABM, a leading provider of facility solutions, announced it has successfully completed an amendment to its senior, secured credit agreement. The Company is a party to a syndicated credit facility comprised of an $800 million revolving line of credit...
Read Story
|
Metropolitan Partners Group Management, LLC ("Metropolitan"), a direct-lending fund manager that provides senior-secured, transitional capital to small and mid-sized businesses in the U.S., recently completed an investment in International Literary...
Read Story
|
CIG Capital (CIG CAP), an alternative investment firm, announced a new 125 million dollar lending project for The Villages at West Point, an upscale and affordable 624 unit destination-location development in West Point, Georgia.Despite the economic...
Read Story
|
MDC Partners Inc. announced that the Company has amended its existing senior secured revolving credit facility with Wells Fargo Capital Finance, LLC, as agent, extending the maturity date to February 3, 2022."We are pleased to have successfully...
Read Story
|
Negative rating actions across global structured finance (SF) from the coronavirus pandemic will be distributed more broadly and are expected to be less severe in most sectors than experienced by the worst performing areas during the period from 2008...
Read Story
|
Bridge Bank announced it has extended a credit facility to YES Leasing, a financial services company that provides commercial equipment financing to companies and lessees of all credit backgrounds, specializing in helping those with challenging...
Read Story
|
International law firm Proskauer has launched the Proskauer Private Credit Default Index which tracks, on a quarterly basis, the default rates of senior secured and unitranche loans.“Traditionally, the private credit market has been viewed as being...
Read Story
|
ABL Advisor released a new video interview featuring Robert Katz, Managing Director, EisnerAmper. In this exclusive interview, Katz discusses the benefits and potentially significant risks for borrowers participating in the Paycheck Protection...
Read Story
|
Gordon Brothers, the global advisory, restructuring, and investment firm, announced today that it has provided a $20 million secured term loan facility to Brooks Brothers Group, Inc, the prototypical American apparel retailer headquartered in New...
Read Story
|
LQD Business Finance, a leading tech-enabled commercial lender, has launched a new Managed Services Platform for processing PPP Loan Forgiveness Applications. Using data integration and automation, LQD Finance’s Managed Services Platform largely...
Read Story
|
New loan delinquencies and new loan transfers to special servicing within the Fitch-rated U.S. CMBS conduit universe increased substantially in May due to coronavirus. The majority of conduit remittances for May have now been reported and 30-day loan...
Read Story
|
Earvin “Magic” Johnson, majority owner of EquiTrust, the nation’s largest minority-owned insurance company, announced a $100 million partnership with MBE Capital Partners (MBECP), the largest certified minority-owned asset-based lender, and the...
Read Story
|
Regis Corporation, a leader in the haircare industry, whose primary business is franchising, owning, and operating technology enabled hair salons, announced that it successfully amended its $295 million revolving credit facility that expires in March...
Read Story
|
Flexion entered into an amendment to its credit and security agreement with Silicon Valley Bank as agent, MidCap Financial Trust, Flexpoint MCLS Holdings, LLC, and the other lenders from time to time party thereto. Pursuant to the amendment, the...
Read Story
|
Cathay Capital Private Equity ("Cathay Capital" or "Cathay"), a leading international investment platform focused on cross-border investment and committed to supporting the international expansion of middle-market companies in North America, Europe...
Read Story
|
Babcock & Wilcox Enterprises, Inc. entered into an agreement with its lenders amending and restating its existing credit agreement, dated as of May 11, 2015, among the Company, Bank of America, N.A., as administrative agent and lender, and the other...
Read Story
|
Lenders are expecting default rates on middle market loans to spike in the second quarter as the fallout from the coronavirus pandemic makes an impact on the ability to repay debt.That's according to a story in Bloomberg News that cites a new new...
Read Story
|
Second Avenue Capital Partners issued the following statement of support for businesses impacted by COVID-19:The COVID-19 outbreak has impacted families, communities, and businesses around the globe. Fluid, ever-changing conditions have increased the...
Read Story
|
The coronavirus pandemic is causing sharp economic contraction and a rapid spike in unemployment that will lead to significant performance degradation in U.S. Marketplace Loan (MPL) portfolios and potentially imperil the viability of some MPL...
Read Story
|
MidCap Financial announced that it has completed an equity offering of more than $300 million. This offering is part of a comprehensive strategy to enhance MidCap Financial's financial flexibility in order to further cement the company's position as...
Read Story
|
UMB Capital Finance continues to fund millions in senior debt capital needs with the recent closings of four asset-based credit facilities. These new secured lines with commitments in excess of $21.3 million provide further financing resources to an...
Read Story
|
Gordon Brothers, the global advisory, restructuring and investment firm, has released an article providing a perspective on the economic impacts of the coronavirus, available here.The coronavirus pandemic and the spread of COVID-19 is bringing the...
Read Story
|
Walker & Dunlop, Inc. announced that it closed the largest transaction in company history; a $2.4 billion Fannie Mae Credit Facility to refinance 67 multifamily properties located in the Washington, D.C. metropolitan area. The borrower, Southern...
Read Story
|
The Marcus Corporation entered into a First Amendment to its Credit Agreement, dated January 9, 2020, among the Company, the lenders from time to time party thereto, and JPMorgan Chase Bank, as administrative agent. The Credit Agreement provides for...
Read Story
|
ABL Advisor has launched a new video series featuring exclusive interviews with highly respected leaders from various disciplines of commercial finance, allowing them to share their professional and personal insights into the impact the coronavirus...
Read Story
|
Constitution Capital Partners (“CCP”), a leading alternative investment manager focused on North American private equity and private credit, today announced the final close of Ironsides V and related segregated mandates with total commitments of $1...
Read Story
|
AvidXchange, a provider of accounts payable (AP) and payment automation solutions for the middle market, announced it has raised an additional $128 million in equity capital. This latest financing effort was oversubscribed with a total of more than...
Read Story
|
Of the $14 billion in emergency loans made by JPMorgan Chase Bank through the government-backed Paycheck Protection Program, a disproportionate percent went to larger clients rather than the small firms expected to favor from the funds.Multiple media...
Read Story
|
CVC Credit Partners announced that it has successfully raised $657 million for its second U.S. focused direct lending fund, CVC Credit Partners U.S. Direct Lending Fund II (“Fund II”). Fund II will follow the same strategy as its predecessor fund...
Read Story
|
EY US (EY) has developed a Paycheck Protection Program (PPP) Loan Forgiveness Platform built on Microsoft technology, so that banks at this critical juncture in the US economic recovery can efficiently meet the increasing demands across the...
Read Story
|
General Electric Company entered into a senior unsecured back-up revolving syndicated credit facility extended by 32 banks at an initial aggregate principal commitment amount of $15 billion (the “Senior Unsecured Credit Facility”). According to...
Read Story
|
Sallyport Commercial Finance provided a $2,000,000 Accounts Receivable facility, including a $500,000 Cash Flow Loan to a company that provides a complete range of traffic control services for their customers.“When we connected with this traffic and...
Read Story
|
Brown Gibbons Lang & Company announced the recapitalization of AIMS Companies ("AIMS") by Sterling Investment Partners ("Sterling") along with AIMS' founder and CEO, Chris Mihaletos, and its senior management team. Sterling is a leading middle market...
Read Story
|
Partners Capital Finance Inc. DBA Archway Fund and the principals of alternative investment manager Oakhurst Advisors have successfully completed a recapitalization of the Los Angeles-based direct portfolio bridge lender, which will now originate...
Read Story
|
Confirming the continued strong support of its key relationship banks, on 16 April 2020 ArcelorMittal (the “Company”) received underwriting commitments in respect of a new US$3bn credit facility (the “Credit Facility”).The Credit Facility represents...
Read Story
|
In perhaps the last snapshot of the secured finance industry before the onset of the COVID-19 pandemic, banks and independent lenders reported that asset-based lending to U.S. businesses increased steadily and credit quality remained strong in the...
Read Story
|
Crowd Machine, the leading provider of Platform-as-a-Service solutions for cross-cloud integration of enterprise applications with rapid no-code development, and Pacific Coast Capital LLC announced Pacific Coast Capital is leveraging Crowd Machine’s...
Read Story
|
Gordon Brothers announced the launch of its Industry Brief, which can be found on the COVID-19 Resource Hub at www.gordonbrothers.com/covid-19. Gordon Brothers’ Industry Brief gives an up-to-the-minute assessment of what the firm’s inventory...
Read Story
|
Honeywell International Inc. entered into a 364-Day Credit Agreement with the banks, financial institutions and other institutional lenders party thereto, Citibank, N.A. (“Citibank”), as administrative agent, and JPMorgan Chase Bank, N.A., as...
Read Story
|
HealthGrowth Capital, LLC, based in Austin, Texas, has closed a $16.8 million financing consisting of both debt and equity. "Our business has matured significantly since our founding nearly four years ago and we are pleased to have reached these...
Read Story
|
Hilco Global has issued a timely perspective specific to OREO asset managers and their teams nationwide, to assist in productively guiding their early and ongoing actions through the very challenging economic upheaval associated with the COVID-19...
Read Story
|
Hilco Global has issued a timely and relevant report on the unprecedented circumstances facing businesses and how they should adjust their existing, predictive forecasting models and the steps they should be following to ensure their own success in...
Read Story
|
More than a week after Congress approved the largest fiscal stimulus in U.S. history, many companies still don't know if it will provide the financial lifeline they need to stay afloat, writes S&P Global Market Intelligence.Since the legislation...
Read Story
|
LIBOR floors in US leveraged loan agreements can provide some cushion to US CLOs, which is supportive to credit when benchmark rates drop as seen during the current market turmoil linked to the coronavirus pandemic, Fitch Ratings says. Leveraged...
Read Story
|
Marriott Vacations Worldwide announced that it has amended its non-recourse warehouse credit facility, expanding its borrowing capacity to $531 million, an increase of $181 million.Lenders include Deutsche Bank AG, Bank of America, N.A., Credit...
Read Story
|
FTI Consulting, Inc. released the findings of its 2020 U.S. Loan Market Survey, which provides a glimpse into bank and non-bank lenders’ views against the backdrop of the COVID-19 pandemic and oil market price disruptions.According to the survey...
Read Story
|
From the first quarter Phoenix Management “Lending Climate in America” survey results, which was conducted in late February, reveal the coronavirus and other factors will be leading economic driver in 2020.Lenders were asked to identify what they...
Read Story
|
BlackRock, Inc and certain of its subsidiaries entered into Amendment No. 9 ("Amendment No. 9") to its Five-Year Revolving Credit Agreement, dated as of March 10, 2011, as amended by Amendment No. 1 thereto, dated as of March 30, 2012, Amendment No....
Read Story
|
Ares Capital Corporation announced that it has increased commitments under its Revolving Credit Facility (the Facility) to approximately $3.6 billion and extended the final maturity date to March 30, 2025. The Facility was led by JP Morgan, Bank of...
Read Story
|
Ares Management Corporation, Sumitomo Mitsui Financial Group, Inc. and Sumitomo Mitsui Banking Corporation announced that they have reached a strategic agreement to collaborate on future business opportunities. As part of this agreement, SMBC will...
Read Story
|
Cubic Corporation announced it entered into an amended and restated credit agreement, providing Cubic with a new $450 million unsecured term loan and upsizing Cubic’s existing unsecured revolving credit facility from $800 million to $850 million. The...
Read Story
|
Owl Rock Capital Corporation announced the closing of Owl Rock CLO III, Ltd, a $395.31 million collateralized loan obligation transaction."We are pleased to close this transaction and further enhance our liquidity position with this long-term...
Read Story
|
BWX Technologies, Inc. announced that it has entered into an amendment to its May 24, 2018 credit agreement with Wells Fargo Bank, N.A. and other lenders that increases its borrowing capacity while delivering lower rates for the company.The amendment...
Read Story
|
Churchill Asset Management LLC, an investment-specialist affiliate of Nuveen providing customized financing solutions to private equity firms and their portfolio companies, today announced that it has completed fundraising for Churchill Middle Market...
Read Story
|
Monroe Capital Corporation reported the purchase of more than 237,500 shares of MRCC common stock by officers and directors of the Company and senior management of Monroe Capital Management Advisors, LLC (“MCMA”), an affiliate of the Company’s...
Read Story
|
The Federal Reserve Board announced that it will establish a Commercial Paper Funding Facility (CPFF) to support the flow of credit to households and businesses. Commercial paper markets directly finance a wide range of economic activity, supplying...
Read Story
|
Velocity Financial and Barclays Bank PLC agreed to increase the capacity of its subsidiary Velocity Commercial Capital’s existing warehouse repurchase facility to $300 million in order to support the company’s loan origination growth.“We appreciate...
Read Story
|
Revlon, Inc. together with its subsidiaries announced two important steps forward in strengthening the Company’s business, capital structure and foundation for future growth. First, the Company executed an agreement with Jefferies Finance LLC that...
Read Story
|
36th Street Capital announced it increased its expandable senior secured revolving credit facility to $170 million in addition to amending terms to a new five-year facility.San Francisco, CA-based Wells Fargo Bank has joined the syndicate with an...
Read Story
|
Bridge Bank announced it has extended a senior loan to Aura, a mission-driven financial technology company that offers affordable loans to hard-working families. The financing will be used to support the company’s rapid expansion as it provides...
Read Story
|
Uncertainty over the intensity, geographic reach and duration of the coronavirus (COVID-19) outbreak is negatively impacting primary market activity and significantly increasing volatility, making it likely that capital markets revenue at the global...
Read Story
|
More lenders are turning toward opportunities in the lower middle market, a function of stricter covenants, increased competition for larger deals and added protections of lending to smaller firms.Reuters reports that the growing size and...
Read Story
|
Goldman Sachs BDC, Inc. announced that it has favorably amended its senior secured revolving credit facility agreement with Truist Bank (formerly known as SunTrust Bank), as administrative agent (as amended, supplemented or otherwise modified and in...
Read Story
February 28, 2020, 08:55 AM
|
Hilco Corporate Finance, LLC (“HCF”), a mid-market investment bank and an operating unit of Hilco Global, announced the successful completion of a $70 million machinery and equipment sale leaseback transaction for the portfolio company of a...
Read Story
February 26, 2020, 09:00 AM
|
Wells Fargo & Company announced it has entered into agreements with the U.S. Department of Justice (DOJ) and the U.S. Securities and Exchange Commission (SEC) to resolve these agencies’ investigations into the company’s historical Community Bank...
Read Story
February 24, 2020, 09:10 AM
|
Pacific Western Bank announced it has provided a $6 million credit facility to new client, Cradle Genomics, creator of non-invasive prenatal testing solutions to be offered at the earliest stages of pregnancy. The company will utilize the facility to...
Read Story
February 24, 2020, 08:00 AM
|
The transition from U.S. dollar (USD) London Interbank Offered Rate (Libor) to its likely replacement, the Secured Overnight Funding Rate (SOFR), presents heightened risks for U.S. financial institutions (FIs), Fitch Ratings says. Banks may face...
Read Story
February 20, 2020, 09:10 AM
|
Hercules Capital, Inc. the largest and leading specialty finance provider to innovative, venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced that...
Read Story
February 20, 2020, 09:03 AM
|
Pamlico Capital (“Pamlico”), a leading, lower middle market private equity firm focused on growth-oriented businesses, announced the first and final close of Pamlico Capital V (“PC V”) at the fund’s hard cap with total commitments of $1.4 billion. PC...
Read Story
February 19, 2020, 08:10 AM
|
KKR, a leading global investment firm, announced the final closing of KKR Global Impact Fund SCSp, a $1.3 billion fund dedicated to investment opportunities in companies whose core business models provide commercial solutions to an environmental or...
Read Story
February 12, 2020, 09:00 AM
|
Angelo, Gordon & Co., L.P., a $38 billion alternative investment firm focused on credit and real estate investing, announced the final closing of AG Credit Solutions Fund, L.P., with $1.8 billion of equity commitments.The Fund, which is the flagship...
Read Story
February 11, 2020, 09:10 AM
|
PGIM Private Capital provided $13 billion of senior debt and junior capital to 228 middle-market companies and projects globally in 2019. PGIM Private Capital, a leading source of private capital for public and private companies, is the private...
Read Story
February 10, 2020, 08:55 AM
|
First Eagle Alternative Credit, LLC announced the final closing of its fourth middle-market direct lending fund, THL Credit Direct Lending Fund IV (“Fund IV”), with $782 million of available investment capacity including leverage. First Eagle...
Read Story
February 07, 2020, 08:39 AM
|
Babcock & Wilcox Enterprises, Inc. announced that the Company has amended its Credit Agreement to comprehensively refinance its debt in advance of its March 15, 2020 requirement. Under the terms of the Agreement, B. Riley FBR, Inc. has agreed to...
Read Story
February 04, 2020, 09:00 AM
|
Griffon Corporation announced that it amended and restated its revolving credit facility to increase the size of the facility from $350 million to $400 million and extend maturity from March 22, 2021 to March 22, 2025.Bank of America acts as...
Read Story
January 31, 2020, 09:05 AM
|
Finacity Corporation (Finacity), a member of the Greensill family of companies, announced the close of a trade receivables securitization program for Black Box Corporation (“Black Box”), a subsidiary of AGC Networks Singapore Pte Limited (“AGC”). The...
Read Story
January 31, 2020, 08:00 AM
|
Middle market chief financial officers are facing widespread shifts—from trade wars to digital disruption—but they aren’t backing down from the challenge. According to BDO’s 2020 Middle Market CFO Outlook Survey, 56% of middle market CFOs expect a...
Read Story
January 30, 2020, 09:05 AM
|
Eight ex-Wells Fargo & Co. executives are facing a record $59 million in fines and the bank’s former CEO received a ban from the industry as regulators took unprecedented steps in holding individuals to account for corporate scandals, Bloomberg...
Read Story
January 24, 2020, 09:10 AM
|
Wynnchurch Capital, L.P., a middle market private equity firm, announced the closing of its fifth private equity fund, Wynnchurch Capital Partners V, L.P at $2.277 billion of committed capital.The Fund, which had a target of $1.6 billion, was...
Read Story
January 23, 2020, 08:55 AM
|
Beezy Inc., the Intelligent Workplace solution for Microsoft Office 365, SharePoint and Teams, announced it has recently closed a $16,000,000 senior secured credit facility from Goldman Sachs Merchant Banking Division to accelerate growth and...
Read Story
January 21, 2020, 09:00 AM
|
AvidXchange, a provider of accounts payable (AP) and payment automation solutions for the middle market, has raised $260 million in equity capital as part of the company's latest financing round.With contributions from TPG Sixth Street Partners and...
Read Story
January 20, 2020, 09:00 AM
|
Middle market private companies in the Golub Capital Altman Index experienced approximate year-over-year earnings growth of 10% and revenue growth of 8.3% during the first two months of the fourth quarter of 2019. This compares to approximate...
Read Story
January 16, 2020, 09:10 AM
|
Potential credit risk may emerge for US leveraged loans if the base rate on loans converts to a higher Prime Rate when the London Inter-Bank Offered Rate (LIBOR) is discontinued post 2021, says Fitch Ratings. Issuers could experience deterioration in...
Read Story
January 14, 2020, 09:10 AM
|
Abacus Finance Group, LLC, a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA, today announced that it served as Administrative Agent and Lead Arranger for $15...
Read Story
January 14, 2020, 09:00 AM
|
Nuveen, a leading global investment manager, is bringing its private equity and junior capital group together with Churchill Asset Management, its award-winning middle-market senior loan and unitranche financing business, to create a direct access...
Read Story
January 13, 2020, 08:55 AM
|
Varagon Capital Partners, L.P. (“Varagon”), a leading direct lender to middle market companies, today announced that it has entered into a definitive agreement to form a new strategic partnership with Aflac Global Investments (“Aflac”) and is...
Read Story
January 09, 2020, 09:00 AM
|
SEA-Vista I LLC, an indirect wholly-owned subsidiary of SEACOR Holdings Inc., announced that it entered into an amended and restated $200 million credit agreement (the “Agreement”), which refinanced its existing credit facilities, with a syndicate of...
Read Story
January 09, 2020, 08:00 AM
|
Fitch Ratings expects the U.S. institutional leveraged loan default rate to climb to 3% in 2020, while the 2020 high yield default rate is expected to reach 3.5%, according to a new Fitch Ratings report."Growing outstanding amounts on our Lists of...
Read Story
December 27, 2019, 09:00 AM
|
NN, Inc., a diversified industrial company, today announced that it has successfully amended its senior credit agreement to, among other things, extend the maturity date of its revolving facility to July 20, 2022, and extend its April 2021 Term Loan...
Read Story
December 23, 2019, 08:45 AM
|
The Financial Stability Board (FSB) published a report on Vulnerabilities associated with leveraged loans and collateralised loan obligations (CLOs). The report assesses the financial stability implications of developments in the leveraged loan and...
Read Story
December 20, 2019, 09:00 AM
|
Betty Hernandez, Executive Vice President and CCO of North Mill Capital had been appointed to the Executive Committee of Secured Finance Network (SFNet), an international trade association for organizations and professionals who deliver and enable...
Read Story
December 19, 2019, 08:55 AM
|
WeWork, a pioneer in the coworking movement, has secured a $1.75 billion letter of credit with Goldman Sachs Group, according to media outlets.According to Bloomberg News, the financing is the first hurdle cleared by SoftBank in its pledge to put...
Read Story
December 18, 2019, 08:57 AM
|
Prospect Capital Corporation (PSEC) announced that Prospect has purchased $31 million of first lien senior secured floating rate notes for the recapitalization of Collections Acquisition Company, Inc. (d/b/a “Payliance”).Founded in 2009 and...
Read Story
December 18, 2019, 08:00 AM
|
Roaring Fork Intermediate, LLC, a Delaware limited liability company (“Holdings”), and Ping Identity Corporation, a Delaware corporation (the “Borrower”), each a wholly-owned subsidiary of Ping Identity Holding Corp., entered into a credit agreement...
Read Story
December 13, 2019, 08:55 AM
|
Louis Dreyfus Company B.V. (LDC) announced the renewal of its two $400 million revolving credit facilities (RCFs) for its Europe, Middle East and Africa (EMEA) region, a two-year and a three-year facility respectively, including identical...
Read Story
December 13, 2019, 08:50 AM
|
IntelePeer, a leading Communications Platform as a Service (CPaaS) provider, announced that it has closed a $55 million credit facility to further accelerate the growth and innovation of its enterprise-centric Atmosphere® CPaaS platform. TPG Sixth...
Read Story
December 13, 2019, 08:00 AM
|
Arboretum Investment Advisors, LLC, a fund manager and SEC-registered investment advisor that specializes in asset-backed and equipment finance funds, has announced one of Arboretum's propriety equipment leasing funds closed on a $25 million senior...
Read Story
December 06, 2019, 08:50 AM
|
Bethani R. Oppenheimer, an attorney in the Atlanta office of global law firm Greenberg Traurig, LLP, has been named to the 2020 Executive Committee of the Secured Finance Network (SFNet) (formerly the Commercial Finance Association (CFA). The...
Read Story
December 04, 2019, 08:50 AM
|
TiVo Corporation announced the Company entered into a new $715.0 million five-year Term Loan Credit Agreement with HPS Investment Partners, LLC as administrative and collateral agent, plus a $60M Revolving Loan Credit Agreement with Morgan Stanley...
Read Story
December 02, 2019, 09:00 AM
|
Mercuria Energy Group the global energy and commodities group announced the successful signing of US$ 1.2 billion in credit facilities that was joined by a group of 37 banks.The Facilities were arranged by Australiaand New Zealand Banking Group...
Read Story
November 27, 2019, 08:40 AM
|
Monroe Capital LLC has been recognized by Global M&A Network as the Small Middle Markets Lender of the Year for the seventh consecutive year. Award winners were honored at the Americas M&A Atlas Awards Gala Ceremony held in New York City on October...
Read Story
November 26, 2019, 08:00 AM
|
The U.S. distress ratio widened to 8.5% as of Oct. 15, 2019, from 7.6% on Sept. 16, with the oil & gas sector seeing the sharpest rise since last year, according to an S&P Global Ratings report on Monday.Eight sectors' distress ratios widened in this...
Read Story
November 25, 2019, 08:50 AM
|
TIMIA Capital Corporation announced that it has entered into a $7.5 million credit facility with Turnham Green Investments Inc. of Vancouver, BC . The one year term includes an additional 3 month extension and supports TIMIA's future investments into...
Read Story
November 25, 2019, 08:00 AM
|
EPSG, a leading integrator of payment technology solutions, announced that it has entered into a revolving credit facility with People’s United Bank, N.A., a subsidiary of People’s United Financial, Inc., and has adopted their eTreasury + Business...
Read Story
November 19, 2019, 08:00 AM
|
Direct lenders are positioning themselves to take advantage of a general slowdown of the U.S., that could lead to a pullback in syndicated loans and hamper banks' ability to lend capital.That's according to a report from Reuters citing data from...
Read Story
November 18, 2019, 08:55 AM
|
Regulatory change is the most likely near-term event risk for US corporate business models and financial profiles, particularly in the healthcare & pharmaceuticals; real estate; and gaming, lodging & leisure sectors, says Fitch Ratings.Strategic M&A...
Read Story
November 18, 2019, 08:50 AM
|
Citizens Bank announced that it has provided a $214 million Revolving Line of Credit for Norwalk, Connecticut-based Nations Fund I, a wholly owned subsidiary of NEF Holdings, LLC. Citizens acted as Left Lead Bank and Joint Lead Arranger.Nations...
Read Story
November 14, 2019, 08:50 AM
|
Computer hardware and software upgrades are topping the list of investments planned by middle market companies, which regard technology as a key driver of their growth, according to a new survey conducted by The Harris Poll for CIT Group Inc.Middle...
Read Story
November 13, 2019, 08:50 AM
|
SFNet has introduced SFNet Market Pulse, a periodic report that will inform lenders about emerging economic trends likely to affect secured lending and their borrowers’ industries over the next one to two quarters, according to a an announcement in...
Read Story
November 12, 2019, 08:55 AM
|
Equity Residential announced its operating partnership has entered into a $2.5 billion multi-currency revolving credit facility, replacing its existing $2.0 billion credit agreement. The new facility matures on November 1, 2024, and can be extended...
Read Story
November 08, 2019, 08:50 AM
|
Validis, a pioneer of financial data sharing and standardization technology, announced that they are entering an exciting partnership with ABLSoft. ABLSoft’s flexible lending platform helps lenders save time and scale operations with intelligent...
Read Story
November 08, 2019, 08:00 AM
|
Siena Lending Group LLC, an asset-based lending company, announced an increase in its senior credit facility with Wells Fargo Bank, N.A. to $312.5 million.Earlier this year, Siena announced their acquisition by Business Development Corporation of...
Read Story
November 06, 2019, 08:45 AM
|
Pathlight Capital LP announced the final closing of its inaugural funds, Pathlight Capital Fund I LP and Pathlight Capital Offshore Fund I, LP (together, the “Fund”), with $540 million of capital commitments. The Fund was oversubscribed and closed...
Read Story
November 04, 2019, 08:45 AM
|
Risk Strategies, a privately held, rapidly growing national insurance brokerage and risk management firm, was the recipient of one of the largest unitranche loans on records, topping out at $1.6 billion, according to a report from Reuters.The loan...
Read Story
November 01, 2019, 09:00 AM
|
SG Credit Partners provided a $2 million Second Lien Cash Flow Loan to a provider of IT managed services and cloud collaboration solutions. The Company’s management team owns corporate real estate held in a LLC outside of the Company.The Company was...
Read Story
October 31, 2019, 08:55 AM
|
Next Edge Capital Corp. (Next Edge Capital) announced the closing of a revolving credit facility for $47,500,000 with CIBC and NELI Canada LP, a special purpose funding vehicle utilized by the Next Edge Private Debt Fund.Next Edge Capital is an...
Read Story
October 31, 2019, 08:40 AM
|
Business development companies (BDCs) will face continued challenges heading into 2020, including competitive underwriting conditions, earnings pressure from lower interest rates and unsustainable asset quality metrics, according to Fitch Ratings'...
Read Story
October 30, 2019, 09:00 AM
|
Capitala Group, a provider of capital to lower middle market companies, announced that it has entered into a strategic partnership with, and sold a minority non-controlling interest of its management firm to Mitsui & Co. (U.S.A.), Inc. (“Mitsui USA”)...
Read Story
October 29, 2019, 08:45 AM
|
The National Center for the Middle Market (NCMM) released its 3Q Middle Market Indicator (MMI) today with data showing a decrease in growth rate for middle market companies. At 5.8 percent, it fell nearly three points from the Q2 report.The...
Read Story
October 28, 2019, 08:55 AM
|
Ares Commercial Finance announced that it has provided a senior secured credit facility to Saylite Holdings LLC and its subsidiaries. Saylite is owned by CORE Industrial Partners, a Chicago-based private equity firm investing in North American middle...
Read Story
October 28, 2019, 08:45 AM
|
Black Diamond Group Limited announced that the Company has agreed to terms with respect to a four-year secured asset-based revolving credit facility (“Facility”). The Facility is expected to close within the next week and is subject to customary...
Read Story
October 28, 2019, 08:00 AM
|
SSG Capital Advisors, LLC (SSG) acted as the investment banker to Mairec Precious Metals U.S., Inc. in the sale of substantially all of its assets to BASF Corporation. The sale was effectuated through a Chapter 11 Section 363 process in the U.S....
Read Story
October 25, 2019, 08:55 AM
|
LBC Credit Partners ("LBC") provided senior secured credit facilities to support the refinancing of Sciens Building Solutions and the add-on acquisition of SmartWatch Security & Sound ("SmartWatch"). Sciens Building Solutions, a portfolio company of...
Read Story
October 25, 2019, 08:29 AM
|
Fenergo, a provider of digital Client Lifecycle Management (CLM) solutions, announced the results of new research which reveals that slow and manual onboarding processes could lead to commercial and business banks individually losing $4.5 billion in...
Read Story
October 24, 2019, 09:24 AM
|
Houlihan Lokey, Inc., the global investment bank, has agreed to acquire Freeman & Co. (Freeman), a New York-based independent advisory firm that provides a range of advisory services to financial institution clients. The transaction, signed yesterday...
Read Story
October 23, 2019, 09:25 AM
|
Winnebago Industries, Inc., Winnebago of Indiana, LLC and Grand Design RV, LLC, entered into an Amended and Restated Credit Agreement among the Borrowers, the other loan parties party thereto from time to time, the lenders party thereto from time to...
Read Story
October 23, 2019, 08:50 AM
|
Middle market private companies in the Golub Capital Altman Index experienced approximate year-over-year earnings growth of 13.2% and revenue growth of 9.6% during the first two months of the third quarter of 2019. This compares to approximate...
Read Story
October 22, 2019, 08:52 AM
|
A&G Real Estate Partners, LLC and B6 Real Estate Advisors, LLC, announced a November Bankruptcy Auction for the 15.6-acre campus owned by The College of New Rochelle). A $21 million Stalking Horse Bid has been approved, with Competing Qualified...
Read Story
October 22, 2019, 08:00 AM
|
Investors Bancorp, Inc. announced that its banking subsidiary Investors Bank formed an alliance with ODX, a leading digital small business originations platform and a subsidiary of On Deck Capital, Inc. Investors Bank will deploy ODX's digital loan...
Read Story
October 21, 2019, 08:22 AM
|
Amerisource Business Capital announced the acquisition of two specialty finance business units from MidSouth Bank, based in Lafayette, Louisiana. The two acquisitions included loan portfolios of over 1200 commercial borrowers. In conjunction with...
Read Story
October 17, 2019, 09:15 AM
|
TD Bank announced that its U.S. Small Business Administration (SBA) Lending Group closed $2.4 million combined in 7(a) term and 7(a) Express loans for The Kubert School in Dover, New Jersey, which offers a fully accredited three-year course for...
Read Story
October 17, 2019, 08:00 AM
|
Avant Global, LLC (“AG”) a leading relationship-driven venture capital investment, business advisory and private equity fund management firm,has announced a partnership with White Field Capital Partners (“WFCP”) to launch a $200 Million private...
Read Story
October 15, 2019, 08:45 AM
|
Ferroglobe PLC announced the closing of a new, five-year $100 million North American asset-based revolving credit facility, between Globe Specialty Metals, Inc. (“Globe”) and QSIP Canada ULC, each a subsidiary of the Company, as borrowers and PNC...
Read Story
October 14, 2019, 08:00 AM
|
In the second quarter of 2019, banks experienced the largest quarterly net increase in asset-based lending loan commitments and outstandings since data collection began in 2016 - $3.6B and $2.5B, respectively, according to the latest Quarterly...
Read Story
October 10, 2019, 09:00 AM
|
Less than a year after co-leading the acquisition of the wholesale bicycle operations of Advanced Sports Enterprises (ASE) in bankruptcy court, Tiger Capital Group has sold its stake in the newly formed BikeCo, LLC to joint venture partner Advanced...
Read Story
October 07, 2019, 08:55 AM
|
One of the world’s largest banks, HSBC, has embarked on a cost-cutting drive that threatens up to 10,000 jobs, as its new interim Chief Executive Noel Quinn seeks to make his mark on the bank, Financial Times reported.The plan represents the lender’s...
Read Story
October 07, 2019, 08:50 AM
|
Small businesses reported that major sources of credit including credit cards and bank loans drew back sharply last quarter, according to results from the Q3 Private Capital Access Index (PCA Index) from Dun & Bradstreet and Pepperdine Graziadio...
Read Story
October 03, 2019, 09:00 AM
|
H.I.G. Capital ("H.I.G."), a global private equity investment firm with over $34 billion of equity capital under management, announced that one of its affiliates has made a significant growth investment in Circle Graphics Holdings, Inc. (“Circle...
Read Story
October 02, 2019, 08:50 AM
|
Gibraltar Business Capital, an industry leader in alternative financing for middle-market businesses, announced an increase in its credit line with Wells Fargo, N.A. In 2018, Wells Fargo raised Gibraltar’s facility from $75 million to $100 million....
Read Story
October 01, 2019, 08:50 AM
|
ESCO Technologies Inc. (ESE) announced that it has finalized a commitment with its lenders to enter into a new, extended and increased credit facility.The new five-year agreement, which replaces the previous credit facility dated December 21, 2015...
Read Story
September 30, 2019, 08:45 AM
|
White Oak Commercial Finance (“White Oak”), an affiliate of White Oak Global Advisors, announced today it has purchased a portfolio of asset-based loans from Veritas Financial Partners, a Boca Raton, FL based specialty finance company. “This...
Read Story
September 24, 2019, 09:30 AM
|
Monroe Capital LLC announced it co-sponsored Thunder Bridge Acquisition II, Ltd., a special purpose acquisition company (SPAC). This is the second SPAC that Monroe Capital has co-sponsored. Last year, Monroe Capital co-sponsored Thunder Bridge...
Read Story
September 24, 2019, 08:45 AM
|
Raven Industries, Inc. announced that it has entered a new, three-year, $100 million senior unsecured multi-currency revolving credit facility, with BofA Securities, Inc. acting as sole bookrunner and lead arranger. The Credit Facility also includes...
Read Story
September 24, 2019, 08:35 AM
|
Monroe Capital LLC announced an increase in the credit facility to MC Group to support the merger of MC Group and Icon Identity Solutions (“Icon”), an existing portfolio company of Arcapita Investment Management US, Inc.Based in Rolling Meadows...
Read Story
September 12, 2019, 08:55 AM
|
TBF Financial purchased nearly $60 million in non-performing loans from a major online small business lender in recent transactions, CEO Brett Boehm announced.TBF bought the pools of post-charge-off loans as the highest bidder in transactions...
Read Story
September 10, 2019, 08:55 AM
|
PennantPark Investment Corporation announced that it has completed all the necessary amendments to its multi-currency, senior secured revolving credit facility with certain lenders and SunTrust Bank acting as administrative agent (the “Credit...
Read Story
September 10, 2019, 08:35 AM
|
WSFS Bank has organized a Capital Markets department under its division of Finance that will manage the Company’s $1.9 billion investment portfolio and other critical corporate functions. The new Capital Markets group was created from WSFS’ Treasury...
Read Story
September 06, 2019, 08:57 AM
|
BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. announced the successful pricing of the initial public offering of its common shares. The Fund is offering 2,652,001 shares at an initial price of $100 a share, resulting in gross proceeds...
Read Story
September 03, 2019, 08:35 AM
|
People's United Bank, N.A., a subsidiary of People's United Financial, Inc., announced its Healthcare Finance and Capital Markets Divisions provided a $92 million Credit Facility to MidCap Financial (MidCap), a middle market-focused, specialty...
Read Story
August 29, 2019, 08:55 AM
|
Three quarters of surveyed investors believe that equity markets are at a peak, up from 61% that said the same at the end of 2018, according to The Preqin Investor Update: Alternative Assets H2 2019. Just 6% believe markets are expanding, down 15...
Read Story
August 28, 2019, 08:30 AM
|
LendingPoint, the company working to revolutionize and democratize commerce, announced that it closed a committed, $250 million credit facility arranged by Guggenheim Securities. The credit facility has an accordion feature, which allows the Company...
Read Story
August 27, 2019, 08:55 AM
|
FS Credit Real Estate Income Trust, Inc. and FS CREIT Finance Holdings LLC, a direct wholly owned subsidiary of the Company, entered into a Loan and Security Agreement with City National Bank (“CNB”), as administrative agent and a lender, to (i)...
Read Story
August 26, 2019, 08:45 AM
|
Hilco Global has issued a new perspective on the current tariff-driven issues facing U.S. retailers."Retailers Face Tough Decisions as China Tariff Pressures Mount," authored by Tim Anderson, Sr. Vice President of Hilco Valuation Services/Retail...
Read Story
August 23, 2019, 08:55 AM
|
DRB Financial Solutions, LLC and its wholly-owned subsidiary DRB Capital, LLC are pleased to announce that they have closed on the first $150M of a planned $300M term financing facility for their structured settlement and annuity payment stream...
Read Story
August 23, 2019, 08:50 AM
|
Commercial and multifamily mortgage loan originations were 10 percent higher in the second quarter compared to a year ago, and rose 29 percent from the first quarter of 2019, according to the Mortgage Bankers Association's (MBA) Quarterly Survey of...
Read Story
August 23, 2019, 08:00 AM
|
PNC Bank, National Association, announced the closing of an $18.5 million senior secured credit facility for Sandusky, Ohio-based August Corso Sons, Inc. (Corso). PNC Bank, N.A., served as administrative agent.Established in 1941, Corso is a fourth...
Read Story
August 22, 2019, 08:45 AM
|
Vedder Price is pleased to announce that its Global Transportation Finance team, led by Shareholders Mark Ditto and Marc Klyman, represented Stonebriar Commercial Finance (Stonebriar) in extending and amending certain terms of its existing $1.0...
Read Story
August 21, 2019, 08:45 AM
|
Hewlett Packard Enterprise has obtained a five-year $4.75 billion revolving credit facility with JPMorgan Chase Bank and Citibank N.A. as co-administrative agents.According to a report from CRN, the credit facility was unrelated to a recent...
Read Story
August 21, 2019, 08:00 AM
|
The shift in the direction of global monetary policy in the last six months has been more broad-based across geographies than in any period since 2009, with more than a third of central banks covered in the Bank for International Settlements' (BIS)...
Read Story
August 19, 2019, 08:50 AM
|
Francesca’s Holdings Corporation announced that it has entered into a second lien term loan Credit Agreement with Tiger Finance, LLC, an affiliate of Tiger Capital Group. The Company simultaneously announced the completion of its previously announced...
Read Story
August 19, 2019, 08:00 AM
|
Crescent Capital Group LP, a leading alternative credit investment firm, announced today that its European Specialty Lending strategy has provided unitranche financing to support the acquisition of Hanson Wade by U.K.-based private equity firm...
Read Story
August 16, 2019, 08:45 AM
|
Financial institutions' leveraged loan and CLO exposures are manageable relative to sector capital but risks may rise sharply in a stress, Fitch Ratings says in a new report. Undrawn facilities may be called on leading up to or during a leveraged...
Read Story
August 15, 2019, 09:00 AM
|
Wells Fargo Commercial Distribution Finance (CDF), a unit of Wells Fargo Commercial Capital, announced the continuation of Polaris Acceptance, a joint venture with Polaris Inc., into 2027. CDF and Polaris began the dealer wholesale financing joint...
Read Story
August 14, 2019, 08:50 AM
|
Together with the National Center for the Middle Market (NCMM), which is housed at The Ohio State University Fisher College of Business, Chubb has published a summary of findings from the Middle Market Indicator (MMI) report. The latest poll was...
Read Story
August 06, 2019, 08:50 AM
|
Halcón Resources Corporation (Halcón) has been involved in discussions with certain of its stakeholders in respect of a possible restructuring of the indebtedness and capitalization of Halcón and its subsidiaries.On August 2, 2019 the Company entered...
Read Story
August 05, 2019, 08:40 AM
|
U.S. businesses continue to grow, as reflected by increased borrowing from banks and non-bank lenders, according to data released by the Secured Finance Network (SFNet).According to SFNet’s latest Quarterly Asset-Based Lending (ABL) Index, total...
Read Story
August 02, 2019, 09:00 AM
|
FTI Consulting, Inc. announced that its Corporate Finance & Restructuring segment has been recognized as an industry leader globally through several awards programs organized by The Deal, Turnaround Management Association (TMA), Global M&A Network...
Read Story
August 02, 2019, 08:45 AM
|
AloStar Capital Finance successfully agented and closed a $30 million credit facility to BlackRiver Business Capital (doing business as ACG Equipment Finance), an equipment finance company focused on the small-to-mid-ticket market from $10,000 to...
Read Story
|
People's United Bank, N.A., a subsidiary of People's United Financial, Inc. announced its Commercial Banking division served as Lead Arranger on the expansion of a credit facility to $50 million for MVC Capital, Inc. (MVC), a Business Development...
Read Story
|
PNC Bank, National Association, announced the closing of a $30 million senior secured credit facility for Sugar Land, TX-based Sigma Piping Products 2019, LLC (SPP).SIGMA Corporation (SIGMA), a PNC client of more than 15 years, sought financing to...
Read Story
|
Encina Business Credit, LLC (EBC) announced that it has provided a $45 million senior secured credit facility to a supplier of indoor gardening and hydroponic products. The facility consists of a revolving line of credit based on accounts receivable...
Read Story
|
Sierra Income Corporation, Medley Capital Corporation, and Medley Management Inc. today announced that they have entered into definitive amended agreements under which MCC will merge with and into Sierra and Sierra will simultaneously acquire MDLY...
Read Story
|
While U.S. core ABS performance remains strong due largely to low unemployment, many investors are zeroing in their questions on some of the sector's non-core assets, according to Fitch Ratings in its 2019 Virtual Investor Video Series for structured...
Read Story
|
DW Healthcare Partners, a private equity firm focused primarily on making control investments in North American middle market healthcare companies, has closed its fifth fund. The fund was oversubscribed and met its cap of USD610 million in total...
Read Story
|
CIT Group Inc. announced an expansion of its investment management and advisory capabilities that provides increased capacity and flexibility to finance private equity sponsor-owned middle market companies across a diverse range of industry...
Read Story
|
Chesswood Group Limited announced the closing of a new funding facility with Sun Life Assurance Company of Canada for its subsidiary Pawnee Leasing Corporation. This new facility finances Pawnee's prime originations and provides additional annual...
Read Story
|
Yara has signed a $1.1 billion five-year multicurrency revolving credit facility ("RCF") with two one-year extension options.The RCF refinances Yara’s revolving credit facility dated 5 July 2013 and will be available for general corporate purposes....
Read Story
|
Churchill Asset Management (“Churchill”) today announced that it has been recognized as “USA Lender of the Year” at the USA M&A Atlas Awards. Presented by the Global M&A Network, the awards honor outstanding firms, dealmakers and value-creating...
Read Story
|
Syndicated loan issuance to U.S. middle market firms jumped 48% in the second quarter of 2019 following a slow start during the first three months of the year. That's according to a report from Reuters that said loan totals reached $39.6 billion...
Read Story
|
Antares announced that it served as a lead arranger and is acting as administrative agent for a senior secured credit facility to refinance existing debt and provide additional debt financing for New Mountain Capital’s Gelest, Inc.Founded in 1991 and...
Read Story
|
Monroe Capital LLC announced it acted as administrative agent and joint lead arranger on the funding of a senior credit facility in support of Equity Group Investments’ (EGI) partnership with Lanter Delivery Systems. The infusion of capital from EGI...
Read Story
|
Hornbeck Offshore Services, Inc. announced that it entered into a new $100 million senior secured asset-based revolving credit facility.The Administrative and Collateral Agent of the Senior Credit Facility is CIT Northbridge Credit LLC. The Company's...
Read Story
|
Tree Line Capital Partners served as lead arranger and administrative agent for an $82,335,000 first lien credit facility for Ingenio. CVC Credit Partners participated in the facility, and Western Alliance Bank provided a revolving credit...
Read Story
|
U.S. banks are expected to report lower sequential net interest margins (NIM) during the second-quarter 2019 earnings season as the Treasury yield curve has notably flattened, according to the latest dashboard report from Fitch Ratings. The Federal...
Read Story
|
Solaris Water Midstream, LLC, a provider of water-related infrastructure to the oil and gas industry, announced it has increased the size of its revolving credit facility to $350 million from $250 million. Cadence Bank N.A. acted as lead arranger...
Read Story
|
Gardner Denver Holdings, Inc. announced that on June 28, 2019, it entered into an amendment to its existing credit agreement that extended, increased and repriced the borrowing capacity under its revolving credit facility.The amendment refinances the...
Read Story
|
WaterBridge Holdings LLC announced the closing of significant transactions that provide additional expansion capital and operational scale in the Southern Delaware Basin. WaterBridge's $1.0 billion Term Loan B is priced at L+575 / 97.5 OID and...
Read Story
|
Bank of America announced that it will no longer finance companies that operate private prisons, barely four months after a similar move by JPMorgan Chase.The decision, reported by multiple media outlets, comes amid increasing public pressure on the...
Read Story
|
MoneyGram International, Inc. reported that it has entered into a new first lien credit agreement and a new second lien credit agreement, each with Bank of America, N.A. acting as administrative agent.The new agreements provide for:
a first lien...
Read Story
|
Newtek Business Services Corp., an internally managed business development company (BDC) announced that Newtek Small Business Finance, LLC (NSBF), the Company’s nationally licensed SBA lender subsidiary, increased its existing revolving credit...
Read Story
|
A majority of lenders in the U.S. market believe the number of loans monitored and actively managed by their workout groups will increase over the next year, with distress expected in the retail, energy, healthcare and automotive sectors, according...
Read Story
|
CVC Credit Partners announced the final close of Global Special Situations Fund II (the "Fund" or "GSS II") with total capital commitments of $1.42 billion raised within 8 months, surpassing its original target of $1.0 billion as outlined further in...
Read Story
|
CARBO Ceramics Inc. announced that it has entered into an amended credit agreement with the Wilks Brothers, LLC and a promissory note with its affiliate, Equify Financial LLC. The total amount of borrowings under this new structure remains the same...
Read Story
|
Angelo, Gordon & Co., L.P., a $33 billion alternative investment firm focused on credit and real estate investing, announced that it has raised over $2.75 billion in equity commitments for AG Direct Lending Fund III, exceeding the Fund’s $2 billion...
Read Story
|
The Flowr Corporation announced that the Corporation has received a loan commitment from a syndicate of lenders led by ATB Financial (“ATB”) in its capacity as lead arranger and administrative agent for up to $50,000,000 of committed senior secured...
Read Story
|
The Securities and Exchange Commission (SEC) has charged KPMG LLP with altering past audit work after receiving stolen information about inspections of the firm that would be conducted by the Public Company Accounting Oversight Board (PCAOB). The...
Read Story
|
Jack in the Box Inc. announced that certain of its subsidiaries intend to complete a refinancing of the company’s existing senior credit facility, which is comprised of a term loan and revolving credit facility, with a new securitized financing...
Read Story
|
A 2% high yield default rate is projected for YE 2020 on a record low 12% 'CCC' share of issues and only 5% of outstandings due before 2021, according to a new Fitch Ratings report.The forecast assumes continued economic growth but caveats that...
Read Story
|
Brian Moynihan, Chief Executive Officer at Bank of America, was recognized as one of the most Influential thought leaders of 2019 by Barron,s Magazine, the Publication announced.Moynihan, 59, took over in 2010 when Bank of America, still mired in...
Read Story
|
Private capital funds have been increasingly turning to subscription credit facilities (SCFs) to offer funding for deals. These arrangements, whereby a fund manager secures short-term financing from a credit provider in lieu of making capital calls...
Read Story
|
TCF National Bank (TCF Bank) and TCF Financial Corporation (TCF) announced the formation of TCF Capital Solutions, which brings together the resources of TCF Equipment Finance and Winthrop Resources Corporation to deliver deep lending and leasing...
Read Story
|
Sasol Limited announced that its wholly owned subsidiary Sasol Financing USA LLC has entered into new $1.8 billion US dollar-denominated senior unsecured credit facilities, comprised of a $1.65 billion term loan facility and a $150 million revolving...
Read Story
|
36th Street Capital Partners, LLC announced it has expanded its three-year, senior secured revolving credit facility to $125 million, an increase of $25 million.Bridgeport, CT-based People’s United Bank has joined the existing syndicate for the...
Read Story
|
When leading AV companies — including PRG/VER, Keslow Camera, Illumination Dynamics, and Birns & Sawyer — choose to trim their surplus inventory and raise additional capital for inventory refreshment, they often turn to Tiger Group to execute...
Read Story
|
The M&A Advisor announced this year’s winners of the 10th Annual Emerging Leaders Awards. Renowned globally for its recognition of leading M&A, financing, and turnaround professionals, The M&A Advisor created this awards program to honor the emerging...
Read Story
|
Gibraltar Business Capital continued its success building relationships with private equity groups by closing a $3.5 million line of credit for Chief Supply, headquartered in Charlotte, N.C.Chief Supply Corporation is a national distributor of public...
Read Story
|
The recent slowdown in M&A and LBO-related loan issuance volumes is providing an opportunity for sponsors and arrangers to launch dividend recapitalization (recaps) transactions intended to normalize returns on investments, according to Fitch Ratings...
Read Story
|
Seller’s market sentiment is down in all market segments except for businesses with $5 million to $50 million in enterprise value. Looking back a year, seller’s market sentiment has decreased notably for businesses valued between $1 million – $2...
Read Story
|
Louis Dreyfus Company B.V. (LDC) announced the renewal of its $750 million revolving credit facility (RCF) in North America, including a sustainability-linked pricing mechanism for the first time. The transaction replaces its previous three-year $750...
Read Story
|
HCP, Inc. announced that it has closed an amended and restated credit agreement providing for a $2.5 billion unsecured revolving credit facility and a new $250 million unsecured term loan facility.The amendment and restatement increased the size of...
Read Story
|
Capital Southwest Corporation, an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, today announced an expansion to its Senior Secured...
Read Story
|
Service Corporation International entered into a new senior unsecured credit agreement with JPMorgan Chase Bank, N.A., as administrative agent, and certain other financial institutions, as lenders, providing for a $650 million senior term loan...
Read Story
|
Distressed debt has long been a major component of the private debt industry. At the time of the Global Financial Crisis (GFC) distressed debt funds raised record levels of capital and saw record performance, as funds took advantage of distressed...
Read Story
|
Monroe Capital LLC was selected as the recipient of the 2019 Best U.S. Direct Lending Fund by Creditflux, a London-based global publication and leading information source for the rapidly evolving market for credit funds and CLOs. The award was...
Read Story
|
Monroe Capital LLC announced an increase in its credit facility to Mammoth Holdings to support the acquisition FLCW, LLC d/b/a Finish Line Car Wash. In October 2018, Mammoth partnered with Red Dog Equity LLC, an Atlanta-based private equity firm...
Read Story
|
Hitachi Capital America (HCA), a leading specialty finance company focusing on commercial loans and leases, is expanding its suite of working capital solutions in the Mexican marketplace, all while having witnessed a substantial growth of 30% in its...
Read Story
|
Comptroller of the Currency Joseph M. Otting told lawmakers that increased liberalization in the leveraged loan market carries the risk of destabilizing the economy, and nonbank financial institutions are leading the charge.During testimony May 15...
Read Story
|
The ONE Group Hospitality, Inc. announced the successful closing of a new credit facility on May 15, 2019 that includes a $10.0 million term loan and a new $10.0 million revolving credit facility. The new credit facility bears an interest rate of...
Read Story
|
EY recently announced Jason Floyd and Michael Monk of Amerisource Business Capital as finalists for the Entrepreneur Of The Year® 2019 Award in the Gulf Coast Area. Widely considered one of the most prestigious business awards programs in the U.S....
Read Story
|
Mitsubishi UFJ Financial Group (MUFG), Inc., the world's fifth-largest financial institution by assets with approximately $2.7 trillion, cites a number of current trends in asset-based lending as observed by Ed Gately, Head of MUFG's Asset-Based...
Read Story
|
TPG, a global alternative assets firm, announced the closing of TPG Tech Adjacencies (TTAD), a new investment vehicle focused on capital solutions for the technology industry. TTAD aims to provide flexible capital for founders, employees, and early...
Read Story
|
With an increase of 18%, M&A advisory was the only business to report a year-over-year gain in the first quarter of 2019 for the five U.S. global trade and universal banks (GTUBs), according to the latest U.S. Capital Markets Quarterly report from...
Read Story
|
A high ratio of corporate debt to GDP is tolerable as long as a material contraction of core pretax profits is avoided, according to a new report from Moody's Analytics. According to the 26-page analysis, history shows that the ratio of corporate...
Read Story
|
B. Riley FBR, Inc. served as the exclusive financial advisor to Stream Companies (Stream) in connection with a strategic growth investment from Sverica Capital Management (Sverica). As part of the transaction, Sverica acquired an equity interest in...
Read Story
|
THL Credit Advisors LLC, an alternative credit manager, announced that it has closed THL Credit Lake Shore CLO I at $411 million (Lake Shore I). The offering represents THL Credit’s first collateralized loan obligation (CLO) that includes middle...
Read Story
|
Monroe Capital LLC announced an increase in its credit facility to TPC Training (TPC) to support the acquisitions of National Environmental Trainers, Inc. (NET) and Intelivert. TPC is an existing portfolio company of Frontenac.Based in Buffalo Grove...
Read Story
|
CUI Global, Inc. announced that it closed on a previously announced two-year revolving line of credit facility of up to $10.0 million with Bank of America Merrill Lynch. The new facility replaces the Company's existing $5.0 million U.S.-based...
Read Story
|
Brex, the first corporate card for startups, and Barclays Investment Bank, today announced a $100 million debt capital raise to help power the next phase of Brex’s growth. The capital comes in the form of a warehouse line of credit, which is backed...
Read Story
|
The 12 Federal Reserve Banks issued the Small Business Credit Survey: 2019 Report on Employer Firms, which examines the findings of an annual survey of small business owners nationwide. The Report focuses on small employer firms, businesses that have...
Read Story
|
B. Riley FBR, Inc., a full service investment bank and wholly-owned subsidiary of B. Riley Financial, Inc., announced it served as the exclusive financial advisor to USA Holdings, LP (d.b.a. USA Communications) in the sale of its cable TV and...
Read Story
|
With public offerings from large companies like Uber and Pinterest on the horizon, banks can expect to witness a spike in loan volume to support the IPO process, Reuters reports.According to data from Thomson Reuters LPC, the rebound comes following...
Read Story
|
Frederick “Rick” Eugene Wolfert, 64, of Greensboro, GA, passed away peacefully on April 9, 2019 at St. Mary’s Good Samaritan Hospital in Greensboro, GA. Rick had a long and distinguished career in the equipment finance industry. He was an active...
Read Story
|
Golub Capital BDC, Inc., a business development company, today announced that it originated $116.1 million in new middle-market investment commitments during the three months ended March 31, 2019. Approximately 90% of the new middle-market investment...
Read Story
|
Ninepoint Partners (Ninepoint), one of Canada’s alternatives asset managers, is pleased to announce the launch of the Ninepoint Monroe U.S. Private Debt Fund (The Fund). Ninepoint has engaged the Chicago-based private credit asset management firm...
Read Story
|
Forward Financing, a provider of technology-enabled alternative financing solutions for under-served small businesses, has closed on a $90 million credit facility, consisting of a $60 million senior revolving credit facility and a $30 million junior...
Read Story
|
BlueVine, an online lender to small- and medium-sized businesses, announced that it is making term loan financing available for business owners through its suite of online financing solutions. The BlueVine Term Loan provides small- and medium-sized...
Read Story
|
Hyster-Yale Materials Handling, Inc., its wholly owned subsidiaries, Hyster-Yale Group, Inc., Hyster-Yale Nederland B.V., Hyster-Yale International B.V., Hyster-Yale Holding B.V., Bolzoni Capital Holding B.V., Hyster-Yale UK Limited, Bolzoni Capital...
Read Story
|
A new survey of more than 1,200 small business owners by OnDeck finds 37 percent of those surveyed expect the tax changes in the Federal Tax Cuts and Job Act to have a positive impact on their businesses. Forty-one percent of small businesses expect...
Read Story
|
Alvarez & Marsal (A&M) announced the formal establishment of its Cost Optimization service offering within its Private Equity Performance Improvement group. Led by Managing Directors Michael Beetz in San Francisco, and Cliff Hall and Markus Lahrkamp...
Read Story
|
Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility in conjunction with Insignia Capital Group’s investment, which together will help to accelerate MediaAlpha’s growth...
Read Story
|
Endologix, Inc., a developer and marketer of innovative treatments for aortic disorders, announced that it has entered into a definitive agreement to raise approximately $52 million gross cash proceeds through the issuance of approximately 7.9...
Read Story
|
Peapack-Gladstone Financial Corporation and Peapack-Gladstone Bank announce the strategic decision to expand the Bank’s corporate advisory and structured finance business under a new Investment Banking division. Eric H. Waser will lead this new group...
Read Story
|
For years private equity firms have invested in healthcare, but now the pace is quickening as they step up their presence in a highly fragmented health industry, seizing on consolidation opportunities to build a better business model, according to a...
Read Story
|
B. Riley Capital Management, LLC, a SEC Registered Investment Advisor and wholly-owned subsidiary of B. Riley Financial, Inc. announced that Tim Gramatovich joined the firm as Chief Investment Officer of its newly established credit platform, Gateway...
Read Story
|
B. Riley FBR, Inc., a full service investment bank and wholly-owned subsidiary of B. Riley Financial, Inc., served as the exclusive buy-side advisor to Luna Innovations Incorporated in connection with the Company's acquisition of General Photonics...
Read Story
|
Viemed Healthcare, Inc., a home medical equipment supplier that provides post-acute respiratory care services in the United States, announced that it has entered into an amendment to its two year commercial business loan agreement increasing the line...
Read Story
|
La Caisse de dépôt et placement du Québec (CDPQ) has acquired a minority stake in Hilco Trading, LLC (d/b/a Hilco Global), an independent financial services company. Following the transaction, CDPQ will own 27% of Hilco Global.Through this new...
Read Story
|
Tree Line Capital Partners, LLC, (Tree Line) announced the expansion of its lower middle-market direct lending platform with the addition of approximately $800 million of new debt and equity commitments. The new capital commitments have provided Tree...
Read Story
|
An overwhelming majority (90 percent) of asset-backed securities (ABS) professionals feel that adopting new technologies will be important to preparing their businesses for the next economic cycle, according to Capital One’s sixth annual survey at...
Read Story
|
AloStar Capital Finance announced that the acquisition of Fenix Parts, Inc. by Stellex Capital Management has been recognized as the “Out-of-Court Restructuring of the Year” in the under $100 million category in the 13th Annual Turnaround Awards by...
Read Story
|
Total outstandings of private and public nonfinancial-sector debt grew by 5.1% year-to-year as of the final quarter of 2018, reaching a record high of $51.796 trillion, according to a briefing by Moody's Analytics referencing the latest version of...
Read Story
|
Mitsubishi UFJ Financial Group, Inc. (MUFG) announced its global Healthcare Banking franchise has expanded to include a U.S. Middle Market group.
The development of a Middle Market business is a natural extension of MUFG's successful global...
Read Story
|
Hercules Capital, Inc., the largest and leading specialty finance provider to innovative, venture growth stage companies backed by some of the leading U.S. and top-tier venture capital and select private equity firms, was named 2018 Specialty Finance...
Read Story
|
Monroe Capital LLC was selected again as the recipient of the 2018 Lower Mid-Market Lender of the Year Award in the Americas region by Private Debt Investor, a global independent publication based in London covering the private debt and private...
Read Story
|
SSG Capital Advisors, LLC (SSG) acted as the investment banker to Argos Therapeutics, Inc. in the sale of substantially all of its assets to an affiliate of SCM Lifescience Co., Ltd. ("SCM Lifescience") and Genexine, Inc. (Genexine). The sale was...
Read Story
|
J. Scott Victor, Managing Director of SSG Capital Advisors, LLC (SSG), was named an Influencer of Finance in the Investment Banking category by The Inquirer in Philadelphia. He was presented with the award on February 28th during an awards ceremony...
Read Story
|
Hitachi Capital America Corp. has signed a definitive agreement to purchase the assets of Ohio-based Global Technology Finance, a supply chain financing provider to value added resellers (VARs) in the technology industry.
The decision to acquire...
Read Story
February 26, 2019, 08:02 AM
|
Maranon Capital, L.P., an investment firm focused on private credit investments in middle market companies, announced that Eldridge Industries has increased its investment in Maranon, now holding a majority ownership position. In addition to the...
Read Story
February 04, 2019, 08:00 AM
|
Wells Fargo Capital Finance, part of Wells Fargo & Company, announced that it acted as administrative agent, lead arranger, and book runner for a $1.2 billion asset-based credit facility and a $125 million term loan facility in connection with the...
Read Story
February 01, 2019, 08:10 AM
|
Monroe Capital LLC has been recognized by Global M&A Network as the Small Middle Markets Lender of the Year for the sixth consecutive year. Award winners were honored at the Americas M&A Atlas Awards Gala Ceremony held in New York City.
This award...
Read Story
January 31, 2019, 08:15 AM
|
Middle-market companies seeking growth or liquidity have fueled a strong mergers and acquisitions market in recent years and expectations remain high for this year, but Citizens Commercial Banking’s annual survey found many companies see a slowdown...
Read Story
January 30, 2019, 09:00 AM
|
Antares announced that it closed more than 300 transactions in 2018, issuing nearly $25 billion in financing commitments including approximately $1.5 billion in new unitranche program commitments, and syndicating approximately $15 billion of credit...
Read Story
January 29, 2019, 08:25 AM
|
American credit specialist CIFC has launched a UCITS fund as it builds its presence in Europe. The CIFC Global Floating Rate Credit Fund opens up access to the firm’s structured credit expertise for the first time in a UCITS format. It will invest in...
Read Story
January 29, 2019, 07:00 AM
|
Capital One announced that its unitranche loan program, ULTra, closed approximately $1.1 billion in commitments to borrowers in the healthcare and services industries in 2018. The program, with HPS Investment Partners as its strategic co-investor...
Read Story
January 28, 2019, 08:00 AM
|
SSG Capital Advisors, LLC acted as the exclusive investment banker to American Fuel Cell and Coated Fabrics Company on its sale of substantially all of its assets to an affiliate of LB Advisors, LLC and Playa Capital Partners, LLC. The sale was...
Read Story
January 21, 2019, 07:11 AM
|
Golub Capital BDC, Inc., a business development company, announced that it originated $203.1 million in new middle-market investment commitments during the three months ended December 31, 2018. Approximately 77% of the new middle-market investment...
Read Story
January 14, 2019, 07:06 AM
|
Capital One announced that its Healthcare Corporate Finance group was once again the No. 1 lead arranger, measured by number of deals, for healthcare leveraged loans up to $1 billion, according to Refinitiv (formerly Thomson Reuters Financial & Risk)...
Read Story
January 08, 2019, 08:00 AM
|
Twin Brook Capital Partners, the middle-market direct lending subsidiary of Angelo Gordon, announced that it has committed over $2 billion to private equity sponsors in support of healthcare sector transactions in the middle market, including over $1...
Read Story
January 07, 2019, 07:47 AM
|
The $1.3 trillion leveraged loan market is facing a shakeup as investors begin to lose faith in the value of the assets used to back the large debt facilities that many large yet struggling companies use to finance operations and growth, Bloomberg...
Read Story
January 04, 2019, 08:19 AM
|
Ares Management Corporation announced the final closing of its inaugural, commingled U.S. senior direct lending fund, Ares Senior Direct Lending Fund (SDL). SDL was significantly oversubscribed relative to its initial target of $2 billion in L.P....
Read Story
January 04, 2019, 08:00 AM
|
On December 27, 218 ABL Advisor erroneously published a news story involving the firm LIG Assets, Inc. that was originally published in 2013. The information is now outdated. We make every effort to verify the information we receive prior to...
Read Story
December 28, 2018, 02:00 PM
|
Heritage Global Partners, a worldwide leader in asset advisory and auction services and a subsidiary of Heritage Global Inc., announced it has entered into a strategic partnership with Napier Park Global Capital (“Napier Park”), to pursue acquisition...
Read Story
December 21, 2018, 09:01 AM
|
Gladstone Capital Corporation, a business development company, announced that it originated and closed approximately $50 million in new lower middle-market investments to date during the three months ending December 31, 2018. Approximately 78% of...
Read Story
December 20, 2018, 08:10 AM
|
The Securities and Exchange Commission announced that Fifth Street Management LLC, formerly an SEC-registered investment adviser based in Greenwich, Connecticut, has agreed to settle charges relating to the misallocation of certain expenses to its...
Read Story
December 07, 2018, 08:00 AM
|
Monroe Capital LLC announced the final close of its 2018 Monroe Capital Private Credit Fund III (“Fund”) at $1.33 billion of limited partner commitments with over 100 investors in eight countries, eclipsing the Fund target of $800 million. When...
Read Story
November 27, 2018, 08:11 AM
|
ABL Advisor's offices will be closed on Thursday, November 22nd and Friday, November 23rd in observance of Thanksgiving. We will return with our Daily eNews Blast on Monday, November 26th.
We wish all our readers a safe and happy Thanksgiving...
Read Story
November 21, 2018, 07:01 AM
|
CIT Group Inc. revealed a simplified and refreshed brand identity aimed at presenting a more cohesive market presence following a multi-year transformation of the company. The effort includes a new marketing campaign, tagline and website reflecting...
Read Story
November 16, 2018, 07:45 AM
|
Aligning operational risk management (ORM) with strategy could enable strategic change, improve business performance and enhance customers’ experience for financial institutions. However, only half of firms surveyed with less than $250 billion in...
Read Story
November 12, 2018, 08:00 AM
|
Tapping new sources of collateral is the key to gaining an edge in today’s hypercompetitive asset-based lending sector, noted Bradley W. Snyder, Executive Managing Director of Tiger Group, during a panel sponsored by the new Washington chapter of the...
Read Story
November 06, 2018, 07:03 AM
|
Bibby Financial Services North America (BFS) funded close to $60 million in alternative financial solutions for more than 240 new clients in the U.S. and Canada during Q2 & Q3 of 2018, bringing the company’s mid-year funding outlook to a double-digit...
Read Story
October 22, 2018, 07:15 AM
|
H.I.G. Capital (H.I.G.), a global alternative asset management firm with $28 billion of equity capital under management, announced the closing of H.I.G. Growth Buyouts & Equity Fund III. The Fund closed with aggregate capital commitments of $970...
Read Story
October 19, 2018, 08:00 AM
|
Amur Equipment Finance, Inc. (AmurEF) announces the completion of its sixth term securitization and second securitization this year. A total of $250,944,000 in rated securities secured by equipment leases and loans originated by AmurEF were issued...
Read Story
October 19, 2018, 07:10 AM
|
The Alternatives Reference Rates Committee's (ARRC) suggestions for addressing the discontinuation of LIBOR leave some risk to borrowers and lenders with respect to loan repricing, according to Fitch Ratings.As anticipated, the ARRC has recently...
Read Story
October 10, 2018, 08:01 AM
|
PNC Bank launched the national expansion of retail banking, leveraging an array of digital banking capabilities and featuring a new high-yield savings account available to new customers who reside beyond PNC's traditional market of 19 states and...
Read Story
October 02, 2018, 07:06 AM
|
For the first time, finance leaders are joining world leaders from government and health to launch The Tobacco-Free Finance Pledge.
The Pledge encourages signatories to consider the adoption of tobacco-free finance policies across lending, insurance...
Read Story
September 27, 2018, 08:00 AM
|
Hilco Streambank, an advisory firm specializing in the sale of intellectual property assets, is marketing for sale the Excel.com premium domain name. Hilco Streambank has set an initial offer deadline of October 18, 2018 and set a minimum opening bid...
Read Story
September 21, 2018, 07:13 AM
|
Hilco Streambank announced the continued globalization of its intellectual property advisory services platform with the integration of Hilco Global’s European Intellectual Property services office in the U.K. The U.K. office will continue to be...
Read Story
September 12, 2018, 07:10 AM
|
Diebold Nixdorf announced it has secured a capital commitment for $650 million from two leading institutional lenders and has launched a process to amend its existing credit agreement. The company expects to complete these activities over the coming...
Read Story
August 28, 2018, 07:09 AM
|
According to a Bloomberg report, Social Finance, Inc. is in talks with banks to secure a revolving line of credit of as much as $1 bllion after posting a second quarter loss, according to people famiar with the atter. According to the report, the...
Read Story
August 17, 2018, 08:28 AM
|
Equity Partners HG, a subsidiary of Heritage Global, has been selected as an Outstanding Investment Banking Firm by the Beard Group’s Turnarounds & Workouts publication. Turnarounds & Workouts is a newsletter for corporate restructuring...
Read Story
August 17, 2018, 07:00 AM
|
Lincoln International released the second quarter 2018 issue of its Lincoln Middle Market Index (Lincoln MMI). The Lincoln MMI is a unique index measuring middle market enterprise values. The first-of-its-kind index provides a useful benchmarking...
Read Story
August 16, 2018, 08:18 AM
|
Hitachi Capital America (HCA) announced that its trade finance team is in the process of expanding its capabilities to Mexico and continues to see substantial growth in its trade finance portfolio.Mexican companies seeking liquidity and balance sheet...
Read Story
August 16, 2018, 08:00 AM
|
The Antares Bain Capital Complete Financing Solution (ABCS), a joint venture between Antares Capital LP and Bain Capital Credit, LP, announced that it closed four unitranche transactions in July with new and existing borrowers totaling $794 million...
Read Story
August 08, 2018, 07:12 AM
|
Cedar Croft Consulting, in its capacity as financial advisor, structures and secured a $17MM senior secured revolving and term loan credit facility for the turnaround of a large family-owned retailer and wholesaler tile distributor in Los Angeles...
Read Story
August 06, 2018, 08:00 AM
|
Global alternative asset manager The Carlyle Group announced the final close of Carlyle Partners VII, an $18.5 billion fund that makes majority and strategic minority investments primarily in the U.S. across five industries: Aerospace, Defense &...
Read Story
|
Prudential Capital Group provided $5.3 billion of senior debt and junior capital to middle-market companies and projects globally in the first half of 2018.
"Our global footprint and our origination platform have enabled us to meet borrower demand...
Read Story
|
Hilco Global announced it will be donating thousands of new children’s toys and baby products to underprivileged children throughout Chicago and Boston with an in-kind donation totaling $1 million retail. The donation is part of an ongoing company...
Read Story
|
Golub Capital BDC, Inc., a business development company, announced that it originated $195.8 million in new middle-market investment commitments during the three months ended June 30, 2018. Approximately 87% of the new middle-market investment...
Read Story
|
The ABL Advisor office will be closed on Wednesday, July 4 in observance of Independence Day. We will return on Thursday, July 5 to bring you our coverage of the equipment finance industry.We wish our readers a safe and happy holiday!
Read Story
|
A flood of private equity investment into the institutional middle market has pushed the share of highly leveraged deals in the sector to record highs, with more lenders negotiating "borrower-friendly" deals that include lower spreads, looser...
Read Story
|
Harsco Corporation announced amendments to its existing senior secured credit facilities in order to, among other things, reduce the interest rate applicable to the $545 million of term loans outstanding and increase the amount of its revolving...
Read Story
|
Rockland Trust announced financial transactions totaling more than $38.275 million with local businesses located north of Boston. The funding will be applied to enhancing existing operations and positioning the companies for future growth. The loans...
Read Story
|
WaterBridge Resources LLC announced that its subsidiary WaterBridge Operating LLC has entered into a $200 million revolving credit facility led by SunTrust Bank with a syndicate of nine financial institutions. The Credit Facility will be used for...
Read Story
|
Leveraged lending was higher in May, taking year to date volume past the $500 billion mark, according to the latest data from Thomson Reuters. Volume was driven by a jump in institutional activity, which accounts for 69% of issuance this year....
Read Story
|
Encina Business Credit, LLC (EBC) announced that it has upsized an existing asset-based revolving credit facility to a government services company from $25 million to $73.5 million. The increase in commitment amount coincides with the company closing...
Read Story
|
GrowGeneration Corp., one of the largest specialty retail hydroponic and organic gardening stores, announced that it has received $10 million from strategic investors, including a $7.5 million investment from Gotham Green Partners (GGP). GGP is a New...
Read Story
|
Gibraltar Business Capital recently closed three asset-based loans for a variety of organizations to meet their unique business needs.
In just 32 days, Gibraltar closed an $8 million credit facility with a $15 million accordion for a sponsor-owned...
Read Story
|
The Ares Management, L.P. Credit Group is providing additional details on certain new financing commitments in its U.S. direct lending strategies that closed during the first quarter of 2018, which totaled approximately $3.0 billion in commitments...
Read Story
|
DS-Concept, a global provider of trade finance solutions for small and medium-sized enterprises, has changed its name to Tradewind. The firm, a recognized leader in international export factoring, decided on the change in order to illustrate its...
Read Story
|
CIT Direct Capital announced the results of its new survey conducted by The Harris Poll revealing that nearly three out of four small businesses in the U.S. plan to expand their product and service offerings this year. "With strong expectations for...
Read Story
|
Hitachi Business Finance, a division of Hitachi Capital America Corp., recently participated in five syndicated transactions and provided two A/R financing facilities for a total of $74.2 million.As participants in syndicated transactions, Hitachi...
Read Story
|
Bibby Financial Services North America (BFS) provided funding during Q1 2018 to 91 new clients in the U.S. and Canada. BFS saw a 30% growth in the number of clients funded in Q1 2018 compared to Q1 2017, with nearly $23M in total funding facilities...
Read Story
|
Additional Business Development Companies (BDCs) are likely to seek board and/or shareholder approval to increase leverage to 2.0x from 1.0x following recent changes from the Small Business Credit Availability Act, which was signed into law on March...
Read Story
|
The financial institution that recently agented a $193 million debtor-in-possession financing for bankrupt gunmaker Remington says that going forward it will no longer provide capital to companies that produce civilain-style assault rifles, like the...
Read Story
|
Gordon Brothers, the global advisory, restructuring and investment firm, announced that it has expanded its presence in Australia with the opening of a Melbourne office. The firm entered the Australian market in the spring of 2017 in Sydney. Gordon...
Read Story
|
Golub Capital BDC, Inc., a business development company, announced that it originated $136.0 million in new middle-market investment commitments during the three months ended March 31, 2018. Approximately 79% of the new middle-market investment...
Read Story
|
Mitsubishi UFJ Financial Group, Inc. (MUFG) announced that its core commercial banking subsidiary, The Bank of Tokyo-Mitsubishi UFJ, Ltd., has changed its name to MUFG Bank, Ltd., as of April 1, 2018. The name MUFG Bank aligns with MUFG Group brand...
Read Story
|
SierraConstellation Partners, LLC (SCP), an interim management and advisory firm to middle-market companies in transition, has been honored by The M&A Advisor, the world’s premier leadership organization for mergers & acquisitions, restructuring and...
Read Story
|
Hilco Global Mexico, a division of Northbrook, Illinois based Hilco Global, has announced the acquisition of a large portfolio of non-performing collateralized loans from one of the most important banks in Mexico. Terms of the deal and acquisition...
Read Story
|
Momentive Performance Materials Inc., a wholly owned subsidiary of MPM Holdings Inc., Momentive Performance Materials Holdings Inc., the parent of the Company, and certain subsidiaries of the Company entered into an amendment agreement with certain...
Read Story
|
Monroe Capital LLC was selected again as the recipient of the 2017 Lower Mid-Market Lender of the Year Award in the Americas region by Private Debt Investor, a global independent publication based in London covering the private debt and private...
Read Story
|
Tree Line Capital Partners, LLC, announced the expansion of its lower middle-market direct lending platform with $267 million of new capital. The capital, from new debt and equity commitments received in 2017, was invested across the Tree Line...
Read Story
February 15, 2018, 07:14 AM
|
Robert Katz, a managing director in EisnerAmper’s Bankruptcy and Restructuring Group, was named “Distressed M&A Dealmaker of the Year” by The M&A Advisor. The awards will be presented during the 12th Annual Turnaround Awards Gala at the 2018 M&A...
Read Story
February 14, 2018, 08:01 AM
|
Just one year after its initial launch, Capital One announced that its unitranche loan program, ULTra, closed more than $1 billion in commitments to borrowers in the healthcare industry in 2017. The program, with HPS Investment Partners as its...
Read Story
February 02, 2018, 07:30 AM
|
Redpoint Capital Group, LLC, an alternative credit manager focused on private lending across multiple asset classes, announced that the firm will rebrand itself and operate as Park Cities Asset Management, LLC, effective immediately. Park Cities will...
Read Story
February 02, 2018, 07:30 AM
|
1st Source Corporation, parent company of 1st Source Bank, announced important investments in its people as a result of record performance in 2017 and new tax legislation opportunities. These new investments include the following:
The issuance of...
Read Story
January 30, 2018, 07:08 AM
|
Sentinel Capital Partners, a private equity firm that invests in promising lower middle market companies, announced the simultaneous first and final closings of Sentinel Capital Partners VI, L.P. at $2.15 billion and Sentinel Junior Capital I, L.P....
Read Story
January 26, 2018, 07:10 AM
|
Prospect Capital Corporation announced that Prospect has purchased $25 million of first lien senior secured floating rate notes issued to support the recapitalization of Luminex Home Décor & Fragrance Company, LLC ("Luminex"). Luminex is a portfolio...
Read Story
January 26, 2018, 07:05 AM
|
Tennenbaum Capital Partners, LLC, an alternative investment management firm, announced the closing of TCP Direct Lending Fund VIII and its affiliated vehicles with more than $1.9 billion of investor equity commitments.DLF VIII is a continuation of...
Read Story
January 24, 2018, 07:10 AM
|
Axial, a trusted deal network for the middle market, announced its members have closed more than $25 billion in deals on 2,000-plus M&A and growth capital transactions since Axial’s launch in 2010. To facilitate these closed transactions, Axial...
Read Story
January 19, 2018, 07:00 AM
|
Mercom Capital Group, llc, a clean energy research and communications firm, has released its 2017 Q4 and annual report on funding and merger and acquisition (M&A) activity for the solar sector.Total global corporate funding into the solar sector...
Read Story
January 16, 2018, 07:00 AM
|
Golub Capital BDC, Inc., a business development company, announced that it originated $142.2 million in new middle-market investment commitments during the three months ended December 31, 2017. Approximately 72% of the new middle-market investment...
Read Story
January 12, 2018, 07:30 AM
|
Hitachi Business Finance, a source of opportunity for entrepreneurs seeking solutions beyond traditional lending, is celebrating its most successful year yet, having provided $139 million in working capital financing to companies of all sizes across...
Read Story
January 11, 2018, 07:30 AM
|
A survey of current trends in U.S. middle market lending revealed substantial and growing concern about the higher amounts of debt leverage carried by middle market companies heading into 2018, and found that less restrictive loan documents are a...
Read Story
January 10, 2018, 07:27 AM
|
Far West Capital, a privately funded commercial finance company headquartered in Austin, announced a new high: $5.3 billion in financing to high-growth entrepreneurs since its inception in 2007; over $900 million was provided in 2017 alone. With more...
Read Story
January 09, 2018, 07:19 AM
|
According to a new report from Preqin, 2017 was a record year for private debt fundraising, as a combined $107 billion was raised by 136 vehicles. North America saw the most activity, with 75 funds focused on the region raising a total of $67 billion...
Read Story
January 05, 2018, 07:30 AM
|
Macquarie Infrastructure Corporation announced the successful refinancing and upsizing of its holding company level senior secured revolving credit facility to $600 million with J.P. Morgan Chase Bank, N.A., as administrative agent and the lenders...
Read Story
January 05, 2018, 07:15 AM
|
U.S. syndicated loan issuance broke $2.5 trillion in 2017 for the first time, beating 2013’s $2.14 trillion record, Thomson Reuters LPC reports. The surge in new lending was driven by refinancing volume of $1.7 trillion. Refinancings made up 68% of U...
Read Story
January 03, 2018, 08:00 AM
|
The staff of ABL Advisor would like to extend our best wishes for a happy holiday season and our sincere thanks for your loyalty and goodwill throughout the year! ABL Advisor's Daily eNews Blast will not be published the week of December 25th.We will...
Read Story
December 22, 2017, 09:01 AM
|
Gibraltar Business Capital recently closed two new accounts receivable credit facilities to help private companies advance their productions during short-term transitional periods.
One was a $4.5 million credit facility for CDA Inc., a Charlotte, N...
Read Story
December 20, 2017, 07:00 AM
|
GNC Holdings, Inc., a global specialty health, wellness and performance retailer, announced that it has decided not to proceed with its previously announced plans to issue, via its wholly-owned subsidiary, General Nutrition Centers, Inc., senior...
Read Story
December 11, 2017, 07:00 AM
|
Stonebriar Commercial Finance announced the closing of SCFET 2017-2, a $374 million asset-backed securitization transaction. SCFET 2017-2 marks the third securitization transaction that Stonebriar has closed in the last 18 months, bringing total...
Read Story
December 07, 2017, 07:00 AM
|
Lending to U.S. private equity-owned companies hit a record high in November, with the bulk of the surge in new capital attributed to increased refinancing and repricing activity, according to Thomson Reuters LPC data.
Refi and repricing deals...
Read Story
December 05, 2017, 08:00 AM
|
The New York Institute of Credit (“NYIC” or the “Association”), educator to the financial community, is celebrating its 100th year in 2018. In the ever-changing financial landscape, NYIC has been the one constant for the credit industry over the last...
Read Story
November 29, 2017, 07:30 AM
|
Sterling Bancorp, Inc. announced that it has completed its initial public offering of 15,000,000 shares of common stock at a price to the public of $12.00 per share and atotal offering size of $180,000,000. Sterling sold 7,692,308 shares and the...
Read Story
November 22, 2017, 07:18 AM
|
North Avenue Capital (NAC), a specialized commercial lender, has announced the recent closing of over $11.5 million in USDA Rural Development Business & Industry loans to three rural businesses. Having secured this strategic debt financing, the...
Read Story
November 21, 2017, 07:15 AM
|
The Healthcare division of Wells Fargo Corporate Banking has made significant investments to expand its practice since its formalization. Healthcare Corporate Banking has doubled its capital commitments to the for-profit health care industry and has...
Read Story
November 17, 2017, 07:16 AM
|
1STWEST Background Due Diligence , a global provider of comprehensive background checks and enhanced due diligence, has announced its national certification as a WBE-Certified Women’s Business Enterprise by the Women’s Business Enterprise National...
Read Story
November 09, 2017, 07:17 AM
|
Bibby Financial Services (BFS) announced that it funded 81 new clients in Q3 of 2017, providing $23.8M in commercial lending to small and medium-sized businesses (SMBs) in North America. BFS Canada brought on 24 new clients and BFS U.S. brought on 59...
Read Story
November 01, 2017, 07:07 AM
|
Golub Capital BDC, Inc,, a business development company, announced that it originated $128.9 million in new middle-market investment commitments during the three months ended September 30, 2017. Approximately 85% of the new middle-market investment...
Read Story
October 11, 2017, 07:17 AM
|
Bank of the West's Commercial Banking Group announced the opening of a new Commercial Banking Center in Dallas, Texas at Galleria One Tower, 13355 Noel Road, Suite 225, to address the growing global needs of middle-market businesses and the large...
Read Story
October 03, 2017, 08:15 AM
|
With three-quarters of all new loans considered "covenant-lite," lenders are now eyeing deals that include too many additional protections with suspicion, according to a report from Bloomberg. The report notes that lenders are favoring lenient terms...
Read Story
September 25, 2017, 07:42 AM
|
FS Investments, an alternative investment manager and the largest manager of business development companies (BDCs), announced that its BDC direct lending platform committed more than $1.1 billion in senior secured loans and other debt and equity...
Read Story
September 18, 2017, 07:29 AM
|
TAB Bank announced it has provided a $1 million revolving credit facility for an active eyewear company located in California. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital...
Read Story
August 23, 2017, 07:00 AM
|
TCF Capital Funding, a division of TCF National Bank which is a subsidiary of TCF Financial Corporation (TCF), announced that it has surpassed $1 billion in commitments and also announced the promotions of Nick O’Brien, Mike Trojanowski and Bob Joyce...
Read Story
August 11, 2017, 08:00 AM
|
Business Development Companies (BDCs) that rely on Collateralized Loan Obligations (CLO) as a part of their funding strategies are asking the federal government to reconcile conflicting legal guidelines that they argue place unrealistic, competing...
Read Story
|
Golub Capital BDC, Inc., a business development company, announced that it originated $241.9 million in new middle-market investment commitments during the three months ended June 30, 2017. Approximately 88% of the new middle-market investment...
Read Story
|
Encina Business Credit announced that it has provided a $25 million asset-based revolving credit facility to a government services company that is based in the Mid-Atlantic region of the U.S. The credit facility consists of a revolver secured by...
Read Story
|
JPMorgan Chase opened its inaugural commercial banking office in Nevada last week, appointing Executive Director Megan Ackaert to oversee lending to middle-market companies with annual revenues starting at $20 million, according to multiple press...
Read Story
|
TCG BDC, Inc.announced that it plans to make an initial public offering of 9,000,000 shares of its common stock. TCG BDC is expected to list its common stock on the NASDAQ Global Select Market under the symbol “CGBD.” The underwriters are expected to...
Read Story
|
Lenders are finding it less appealing to join together in unitranche funding deals as falling yields coupled with larger deal sizes have dampened returns, reports Reuters LPC.
According to LPC, at least 12 joint ventures were formed between 2014 and...
Read Story
|
Store closing sales have just begun at 14 select Bachrach locations under the approval of a U.S. Bankruptcy Court. Deep discounts are being offered at all closing locations starting May 1, 2017. Store fixtures, furniture and equipment will be...
Read Story
|
Hitachi Business Finance has expanded its financing solutions to include syndicated lending and in the past quarter, provided $65 million to three U.S. companies. Hitachi Business Finance offers hold positions that range from $5-$25 million and...
Read Story
|
Carl Marks Advisors, a corporate restructuring and investment banking firm to middle market companies, announced that Evan Tomaskovic, a Partner at Carl Marks Advisors and manager of the firm’s investment banking group, was named among Global M&A...
Read Story
|
Lombard Global, Inc., a global corporate finance and management advisory firm, announced a key alliance with Glendale Capital Partners in to its flagship Corporate Finance practice. This strategic alliance will add depth and breadth to both firms by...
Read Story
|
Gavin/Solmonese, the Wilmington-based restructuring and turnaround management consulting firm, recently received two industry awards from M&A Advisor at its 11th annual Turnaround Awards.Restructuring 2017 Deal of the Year and Energy Deal of the Year...
Read Story
|
Super G Funding, LLC announces corporate name change to Super G Capital, LLC to reflect increased lending size, expanded deal team and push into the lower middle market. Super G Capital has transformed into the leading provider of second lien debt...
Read Story
|
Monroe Capital LLC was selected as the recipient of the 2016 Lower Mid-Market Lender of the Year Award in the Americas region by Private Debt Investor, a global independent publication based in London covering the private debt and private equity...
Read Story
|
Corporate borrowers are increasingly skirting traditional banks to secure debt financing and leveraged loans, which is creating a surge in demand for alternative lending services, according to a report from Reuters. Reporter Jonathan Schwarzberg...
Read Story
February 13, 2017, 08:00 AM
|
Following years of sluggish economic recovery, business leaders believe 2017 stands to usher in a long-awaited acceleration in growth. According to "America's economic engine - Breaking the cycle," Deloitte's 2017 report on business and economic...
Read Story
February 09, 2017, 08:05 AM
|
TCF Financial Corporation announced that William A. Cooper, the corporation’s executive chairman and former chief executive officer for nearly 30 years, died yesterday. He was 73 years old.“The entire TCF family is deeply saddened by the passing of...
Read Story
February 09, 2017, 07:50 AM
|
KPMG was ranked as the leading mid-market provider of M&A services for both the number of announced and completed deals in 2016, according to Thomson Reuters’ Mid-Market M&A Review (deals up to USD $500M).“M&A remains crucial for companies seeking to...
Read Story
January 30, 2017, 08:00 AM
|
SSG Capital Advisors, LLC acted as the investment banker to Polar Windows of Canada, Ltd., a portfolio company of The Riverside Company, in the sale of substantially all of its outstanding stock to a consortium of management, Henry & Wallace, LLC and...
Read Story
January 27, 2017, 08:00 AM
|
Seeking to better align its international banking services with the customers they serve, Wells Fargo & Company announced that its International Group will be integrated into other Wholesale Banking business lines, enhancing how they serve middle...
Read Story
January 20, 2017, 08:13 AM
|
PNC Riverarch Capital announced the sale of its portfolio company Goldco, LLC to Seven Hospitality LLC, a consortium of high-net-worth investors. Terms of the transaction were not disclosed.
Goldco is a leading operator of 46 Burger King...
Read Story
January 20, 2017, 07:00 AM
|
Moody’s Corporation announced that it has reached an agreement with the U.S. Department of Justice (DOJ) and the attorneys general of 21 U.S. states and the District of Columbia to resolve pending and potential civil claims related to credit ratings...
Read Story
January 16, 2017, 08:00 AM
|
ABL Advisor, the leading online publisher serving the asset-based lending and specialty finance segments of the commercial finance industry, today announces the appointments of Chris Moraff as Associate Editor and Tracy Miller as Marketing...
Read Story
January 13, 2017, 07:55 AM
|
Prudential Capital Partners has completed fund raising for its fifth mezzanine fund, Prudential Capital Partners V, L.P., surpassing its target of $1.4 billion. Prudential Capital Partners is the middle-market mezzanine fund business sponsored by...
Read Story
January 13, 2017, 07:17 AM
|
Middle market private companies in the Golub Capital Altman Index increased revenues by 5.33% and earnings (defined as earnings before interest, taxes, depreciation and amortization, or "EBITDA") declined by 2.48% during the first two months of the...
Read Story
January 12, 2017, 08:00 AM
|
Investment in VC-backed companies based in the United States ended the year on a weak note, as quarterly deals and dollars fell for the second-consecutive quarter, according to the MoneyTree™ Report from PricewaterhouseCoopers LLP (PwC) and CB...
Read Story
January 12, 2017, 07:29 AM
|
Golub Capital BDC, Inc., a business development company, announced that it originated $113.6 million in new middle-market investment commitments during the three months ended December 31, 2016. Approximately 75% of the new middle-market investment...
Read Story
January 11, 2017, 07:15 AM
|
Scargo Hill Capital, LLC, announced its formation to provide senior secured capital solutions in the lower middle-market across retail, consumer products and the broader supply chain. The firm boasts a partnership of retail industry, commercial...
Read Story
January 10, 2017, 08:00 AM
|
Deloitte’s fourth quarter (4Q 2016) CFO Signals survey, which opened the day after the election on Nov. 9, 2016, reveals that all eyes are on the next U.S. administration, with 73 percent of surveyed chief financial officers expecting less...
Read Story
January 06, 2017, 07:45 AM
|
Abacus Finance Group, LLC, a New York-based direct lending company that provides cash-flow senior financing for private equity-sponsored, lower-middle market companies, announced that it served as Administrative Agent and Sole Lead Arranger for...
Read Story
January 06, 2017, 07:00 AM
|
Ares Capital Corporation announced that it has increased its total borrowing capacity in conjunction with the closing of its previously announced acquisition of American Capital, Ltd. Ares Capital increased its total debt facility capacity from $2.2...
Read Story
January 05, 2017, 10:00 AM
|
Avidbank Specialty Finance, a Division of Avidbank that specializes in technology and asset-based lending, has provided LightPath Technologies with new a $5 million acquisition term loan in addition to renewing an existing line of...
Read Story
January 05, 2017, 08:15 AM
|
Ares Management, L.P. announced that it will begin earning fees on approximately $3 billion of incremental AUM as a result of the completion of Ares Capital Corporation’s acquisition of American Capital, Ltd., which closed on January 3, 2017. As a...
Read Story
January 04, 2017, 06:56 AM
|
JND Legal Administration, a management and administration company delivering service lines in corporate restructuring, class action, mass tort, government services and eDiscovery, announced the rebranding and name change of UpShot Services LLC to JND...
Read Story
December 28, 2016, 08:00 AM
|
Opus Bank (“Opus”) announced that it completed on December 23, 2016 the securitization of approximately $509 million of its multifamily loans through a Freddie Mac sponsored “Q-deal” securitization. One class of Freddie Mac guaranteed Structured Pass...
Read Story
December 27, 2016, 08:01 AM
|
Several overarching themes will affect securitization markets around the world in 2017, Moody’s Investors Service says in its global structured finance outlook overview. Asset credit quality will continue to weaken in some sectors but will stabilize...
Read Story
December 21, 2016, 07:28 AM
|
Monroe Capital LLC has been recognized by Global M&A Network as the Small Middle Markets Lender of the Year for the fourth consecutive year. Award winners were honored at the Americas M&A Atlas Awards Gala Ceremony held in New York City on December 6...
Read Story
December 20, 2016, 07:12 AM
|
Crestmark Chairman and CEO Dave Tull announced that Vice Chairman Barry Essig is retiring in December 2016. In recognition of his outstanding contributions to Crestmark and to the financial services industry, over a long and impressive career...
Read Story
December 20, 2016, 07:10 AM
|
Deloitte Corporate Finance LLC acted as the exclusive financial advisor to EPS Financial, LLC (EPS) in connection with Drake Enterprises, Ltd.’s (Drake) sale of substantially all the assets of EPS to Meta Financial Group, Inc. (Meta). The transaction...
Read Story
December 19, 2016, 07:00 AM
|
According to a recent study by the National Center for the Middle Market (NCMM), more than half of U.S. middle market companies lack an up-to-date strategy to combat the cyber risks they face, with 30 percent having no action plan whatsoever. To help...
Read Story
December 15, 2016, 07:28 AM
|
The credit quality of loans originated in the US by so-called marketplace lenders and backing new asset-backed securities (ABS) is unlikely to change meaningfully in 2017, Moody’s Investors Service says in its just-published outlook for the sector....
Read Story
December 08, 2016, 07:33 AM
|
Solace Capital Partners, a private equity firm focused on distressed-for-control and special situations investments in North America, announced the successful closing of its inaugural fund, Solace Capital Special Situations Fund, L.P. (the “Fund”) at...
Read Story
December 06, 2016, 07:21 AM
|
Comptroller of the Currency Thomas J. Curry announced that the Office of the Comptroller of the Currency (OCC) would move forward with considering applications from financial technology (fintech) companies to become special purpose national...
Read Story
December 05, 2016, 07:49 AM
|
CIT Group Inc. announced that Steven T. Mnuchin has resigned from its Board of Directors, effective immediately. His resignation follows President-elect Donald J. Trump’s announced intention to nominate Mnuchin as the next Secretary of the...
Read Story
December 05, 2016, 07:41 AM
|
FS Investments, a leading alternative investment manager, announced that its business development company (BDC) direct lending platform committed approximately $988 million in senior secured loans and other debt and equity financing to middle market...
Read Story
December 02, 2016, 07:16 AM
|
Phoenix Capital Resources, a leading middle-market special situations investment bank, acted as the exclusive financial advisor and investment banker to Val-Fit Inc. ("Val-Fit" or the "Company") resulting in the sale of certain of the Company's...
Read Story
December 01, 2016, 07:44 AM
|
Platte River Equity announced that it has invested in In-Place Machining Company, LLC (“IPM” or the “Company”) in partnership with the existing ownership of the Company. Founded in 1976 and headquartered in Milwaukee, Wisconsin, IPM is a...
Read Story
November 29, 2016, 07:11 AM
|
Monroe Capital LLC was selected as the recipient of the 2016 Lender Firm of the Year Award by The M&A Advisor. Award winners were honored at the 15th Annual M&A Advisor Awards Gala held in New York City on November 9.Monroe Capital provides...
Read Story
November 22, 2016, 07:43 AM
|
aVeriFact, LLC, a business specializing in Financial and Background Investigation due diligence, is proud to announce national certification as a Women's Business Enterprise and Women Owned Small Business by the Women's Business Enterprise South...
Read Story
November 22, 2016, 07:30 AM
|
Pamlico Capital, a leading lower middle market private equity firm focused on growth oriented businesses, announced the first and final close of Pamlico Capital IV (“PC IV”) at the hard cap with total commitments of $910 million. PC IV raised its...
Read Story
November 21, 2016, 07:55 AM
|
Hana Financial, Inc., one of the nation’s leading non-bank specialty commercial lenders, announced that its SBA lending unit, Hana Small Business Lending, Inc., has completed the securitization and sale of approximately $46.1 million of notes backed...
Read Story
November 16, 2016, 07:13 AM
|
CIT Group Inc. announced that Michael Brosnan has been named to its Board of Directors effective November 10. Additionally, John Oros has stepped down from the Board due to the demands and requirements of his position with J.C. Flowers & Co.“We are...
Read Story
November 15, 2016, 07:28 AM
|
Deloitte’s “2016-2017 Global CIO Survey” has uncovered a shift in business priorities from “business performance” to “customers,” with 57 percent of chief information officers choosing “customers” as their top priority, compared to only 45 percent...
Read Story
November 15, 2016, 07:21 AM
|
ParkerGale Capital, LP announced the close of its debut buyout fund. Exceeding its original target of $200 million, the fund closed at $240 million, with contributions from a balanced mix of family offices, pensions, managed accounts, endowments and...
Read Story
November 10, 2016, 07:40 AM
|
LM Funding America, Inc., a specialty finance company offering unique funding solutions to community associations, has initiated strategies to monetize $165 million of unsecured off-balance sheet assets. The company recently placed $5 million of...
Read Story
November 10, 2016, 07:29 AM
|
The construction, consumer and retail, and healthcare industries were the most active in closing deals valued at $75 million or less in the third quarter of 2016, according to a new survey released by CMF Associates, private equity’s preferred...
Read Story
November 08, 2016, 07:41 AM
|
Retailers could see record web traffic this year, according to Deloitte’s 31st annual holiday survey of consumer spending intentions and trends. Among the findings from the 2016 study:The Internet gallops ahead as the top shopping destination
More...
Read Story
October 31, 2016, 08:08 AM
|
Wells Fargo announced that Henry Jordan, the chairman and chief executive officer of Wells Fargo Capital Finance, will retire on December 31, 2016. Following Jordan’s retirement, Wells Fargo Capital Finance will join Wells Fargo Commercial Capital...
Read Story
October 25, 2016, 08:22 AM
|
Neuberger Berman, a private, independent, employee-owned investment manager, announced NB Private Debt Fund II LP (the "Fund") closed on $750 million of limited partner commitments. The Fund seeks to invest in the junior debt of private equity-backed...
Read Story
October 21, 2016, 07:41 AM
|
SSG Capital Advisors, LLC acted as the investment banker to Essex Crane Rental Corp. ("ECRC" or the "Company") in the sale of its core assets to Maxim Crane Works, L.P. ("Maxim"), a portfolio company of Apollo Global Management ("Apollo"). The sale...
Read Story
October 21, 2016, 07:24 AM
|
Atlantic Street Capital, a private equity firm targeting entrepreneurial businesses poised for the next level of growth, announced the closing of Atlantic Street Capital III, LP ("Fund III") with $210 million of committed capital, surpassing its...
Read Story
October 19, 2016, 07:50 AM
|
Audax Group, a leading alternative asset management firm specializing in investments in North American middle market companies, announced the successful final close of Audax Senior Loan Fund III (“SLF III” or “the Fund”) at its hard cap of $500...
Read Story
October 18, 2016, 07:03 AM
|
Venture capital (VC) investment and deal volume continued to be weak in Q3’16, according to Venture Pulse, the quarterly global report on VC trends published jointly by KPMG International and CB Insights. If the pace of deals continues at the same...
Read Story
October 14, 2016, 07:43 AM
|
Monroe Capital LLC announced the final close of Monroe Capital Private Credit Fund II LP (“Fund”) at $800 million of limited partner commitments, eclipsing the Fund target of $600 million. When combined with target fund leverage, the Fund will have...
Read Story
October 13, 2016, 07:43 AM
|
Middle-market private companies in the Golub Capital Altman Index increased revenues by 4.62% and earnings (defined as earnings before interest, taxes, depreciation and amortization, or "EBITDA") declined by 0.66% during the first two months of the...
Read Story
October 10, 2016, 07:35 AM
|
Alvarez & Marsal Taxand, LLC, an affiliate of leading global professional services firm Alvarez & Marsal, has completed the addition of San Jose-based Clifton Douglas LLP, whose team of tax professionals will join A&M Taxand, effective November 1...
Read Story
October 07, 2016, 07:13 AM
|
A survey of private equity executives at ACG's M&A East Conference (September 27-28) by CMF Associates, a leading provider of financial, operational, and human capital solutions to private equity, middle-market, and small cap public companies, found...
Read Story
October 06, 2016, 07:36 AM
|
NXT Capital, LLC announced the final closing on approximately $312 million in equity for NXT Capital Senior Loan Fund IV, L.P. When coupled with targeted leverage, Senior Loan Fund IV will have approximately $900 million in capital to invest. The...
Read Story
October 06, 2016, 07:17 AM
|
Gordon Brothers Group, the 113 year-old, global advisory, restructuring, and investment firm, announced today that all of its operating units will now be positioned under one name: Gordon Brothers. With services in valuations, dispositions...
Read Story
October 05, 2016, 07:37 AM
|
Medallion Financial Corp. announced that Medallion Bank, the company’s unconsolidated wholly-owned portfolio company, and Medallion Business Credit, a division of the company, closed on a sale of over $40 million in performing loans to a large super...
Read Story
October 05, 2016, 07:35 AM
|
Leading venture debt provider Trinity Capital Investment announced the recent launch of a third fund, Trinity Capital Investment Fund III, L.P. (Fund III), which is expected to provide an estimated $600 million of additional capital for deployment...
Read Story
September 29, 2016, 07:06 AM
|
Duff & Phelps, a global valuation and corporate finance advisor, announced that Brent Bersin has been appointed Co-Chair of the Expert Witness Subcommittee of the ABA Commercial and Business Litigation Committee. Bersin is a Managing Director in the...
Read Story
September 26, 2016, 07:42 AM
|
NewStar Financial, an internally-managed commercial finance company and asset manager, announced its liquid credit platform, NewStar Capital LLC (“NewStar Capital”), completed a $410 million broadly syndicated loan securitization known as Arch Street...
Read Story
September 22, 2016, 07:09 AM
|
The run-up in business development company (BDC) equity prices in recent months should lead to further opportunistic equity issuance by some BDCs, says Fitch Ratings. For those firms trading above net asset value (NAV) and able to access equity...
Read Story
September 21, 2016, 07:27 AM
|
Breakaway Capital Partners, a Los Angeles-based direct lending firm, announced the close of Breakaway Capital Partners Fund II, L.P. ("Fund II"), with total commitments at the hard cap of $100 million, all from family offices and individuals. The...
Read Story
September 21, 2016, 07:19 AM
|
Stenn International Ltd. ("Stenn"), a UK-based trade finance provider, announced that it has launched a $300 million financing platform to expand its capacity to help suppliers across the globe access and service buyers of their products in developed...
Read Story
September 20, 2016, 07:46 AM
|
Reuters Loan Pricing Corporation reports business development companies (BDCs), which extended share price gains this summer after a prolonged slump, still face hurdles that prime the specialized closed end investment funds for consolidation...
Read Story
September 19, 2016, 08:05 AM
|
Opus Bank announced that Opus Equity Partners Opportunity Fund I, L.P. (“SBIC Fund”) has received final committee approval for a license from the United States Small Business Administration (the "SBA") to operate as a Small Business Investment...
Read Story
September 19, 2016, 07:43 AM
|
Align Capital Partners, LP announced the first and final close of its inaugural private equity investment fund, Align Capital Partners Fund I, LP and Align Capital Partners Fund I-A, LP (collectively, “ACP I”). Align began fundraising in June 2016...
Read Story
September 19, 2016, 07:36 AM
|
The most important international markets and opportunities for U.S. middle market companies lie within the Americas, according to a new report from the National Center for the Middle Market (NCMM). This finding, detailed in the NCMM's "Winning in the...
Read Story
September 16, 2016, 08:16 AM
|
SaaS Funding, a leading provider of senior and junior debt capital to Software-as-a-Service (SaaS), digital media and tech enabled service companies, announced that it has opened an office in the heart of Santa Monica, hired a team of SaaS...
Read Story
September 14, 2016, 07:34 AM
|
A Reuters article notes higher company valuations and lenders wary of risky investments are pushing private equity firms to increase the size of equity contributions, or checks, for leveraged buyouts near historic highs in the face of fierce...
Read Story
August 29, 2016, 08:02 AM
|
Capitala Finance Corp. announced four investment exits totaling $57.2 million. The investment exits include:
On August 2, 2016, the Company exited its $18.4 million subordinated debt investment in Merlin International, Inc. at par.
On August 5...
Read Story
August 26, 2016, 07:45 AM
|
Great American Group (GA) was appointed by Woolworths Limited to manage the closure of its Masters Home Improvement Stores in Australia. Great American Group's Australian subsidiary, GA Australia, will manage the going-out-of-business sales for all...
Read Story
August 26, 2016, 07:17 AM
|
The Securities and Exchange Commission announced that four private equity fund advisers affiliated with Apollo Global Management have agreed to a $52.7 million settlement for misleading fund investors about fees and a loan agreement and failing to...
Read Story
August 25, 2016, 07:43 AM
|
SSG Advisors, LLC ("SSG") acted as the investment banker to Benchmark Brands, Inc. ("Benchmark" or the "Company") in the sale of substantially all of its assets to The Walking Company, Inc. ("TWC"). The sale was effectuated through Article 9 of the...
Read Story
August 23, 2016, 07:27 AM
|
Amid a tougher climate for marketplace lenders and a drop in mega-round activity, investment in VC-backed fintech companies fell 24 percent in the U.S and nearly 50 percent globally during Q2 ‘16, according to the Pulse of Fintech, the quarterly...
Read Story
August 22, 2016, 07:26 AM
|
Reich Brothers, LLC announced that its wholly owned affiliate 476 Bridge Street LLC was the successful bidder for the assets of Columbus Castings in Columbus, OH. The purchase price including cash and other consideration is in excess of $30...
Read Story
August 19, 2016, 07:29 AM
|
U.S. Financial Bond issuance declined for all sectors except insurance in the first half of 2016, according to a new Fitch Ratings report. The first half of 2016 closed with net new issuance at $56 billion, annualizing to a 7% growth rate and 16%...
Read Story
August 18, 2016, 07:14 AM
|
Square and Upserve announced a partnership providing Upserve customers access to fast, flexible, and straightforward funding for their restaurants through Square Capital. This is the first time loans through Square Capital will be available to...
Read Story
August 11, 2016, 07:51 AM
|
Ares Capital Corporation (ARCC) and Varagon Capital Partners announced the Senior Direct Lending Program has officially launched. First announced in 2015, SDLP was formed to provide complete financing solutions to middle market companies and sponsors...
Read Story
August 04, 2016, 07:41 AM
|
U.S. middle market companies recorded 7.2 percent average revenue growth in the second quarter of 2016, building upon already strong growth figures from Q1, according to the National Center for the Middle Market (NCMM). Combined with solid jobs gains...
Read Story
|
Tiger Capital Group, LLC announced an agreement to provide special project financing for a high-volume program focused on refurbishing and reselling all of the display and returned televisions of one of the nation’s largest brick and mortar retailers...
Read Story
|
Bloomberg reports EverBank Financial Corp., the largest bank based in Florida by deposits, is exploring a sale after receiving interest from a potential suitor. This is according to people familiar with the matter.Bloomberg says the...
Read Story
|
Crestmark is introducing Fast Track Financing to the marketplace, simplifying the application process, reducing paperwork, and providing 24-hour approval to qualified businesses. Now in its 20th year, Crestmark provides timely, customized financing...
Read Story
|
Malfitano Partners, a unique legal and advisory group based in New York City, announced it has established a Board & Fiduciary Services platform under one of its operating units, Malfitano Advisors, LLC. The launch comes just after the six-month...
Read Story
|
Though CEOs in KPMG’s 2016 U.S. CEO Study view innovation as a strategic priority, only 25 percent say innovation is embedded into everything they do.Furthermore, 36 percent say their organization’s approach to innovation is either ad hoc, reactive...
Read Story
|
Monroe Capital LLC announced the closing of a $305 million term debt securitization known as Monroe Capital MML CLO 2016-1, Ltd. The term financing was Monroe’s third CLO completed in the last two years, is secured by middle-market senior secured...
Read Story
|
Lending to U.S. mid-sized companies is poised to increase in the second half of 2016 as lenders report a growing pipeline of M&A deals and expectations for a push ahead of the U.S. election, market participants told Thomson Reuters LPC.After two...
Read Story
|
GE announced that it has received approval of its request to the Financial Stability Oversight Council (FSOC) for rescission of GE Capital’s designation as a nonbank Systemically Important Financial Institution (SIFI).The FSOC’s decision reflects the...
Read Story
|
Metropolitan Equity Partners (“Metropolitan”) announced it has invested $20 million in Bizfi, a premier fintech company that combines aggregation, funding and a marketplace for small businesses. This investment represents an increase from the $65...
Read Story
|
Reuters exclusively reported that alternative lenders are expected to take a larger share of leveraged lending from banks in the next two years as the non-bank lenders step in to help refinance the first wall of revolving debt to come due since...
Read Story
|
The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) that improves financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and...
Read Story
|
InMotion Global, Inc. announced that it has integrated Triumph Business Capital’s full offering of load funding services within AscendTMS, a leading cloud-based transportation management system (TMS) for trucking companies, freight brokers, third...
Read Story
|
In a company press release, Gibraltar Capital Holdings announced that Gibraltar Business Capital (GBC), the company's asset-based lending company, can now lead facilities of up to $10 million. Its small business capital company, Gibraltar Capital...
Read Story
|
North Mill Equipment Finance LLC announced the closing of its second securitization transaction, NMEF Funding 2016-A, which was completed on June 13, 2016. NMEF Funding 2016-A issued two classes of equipment finance-backed notes totaling $111.15...
Read Story
|
EverBank announced several new senior management appointments and strategic organizational changes for its Commercial Division, serving small and mid-size companies across the country.“Over the past several years, EverBank has acquired or started a...
Read Story
|
CIT Group announced the launch of a mid-cap restaurant franchise finance practice to complement its successful large and small restaurant franchise financing businesses.“CIT franchise finance has long been recognized as a leading provider of...
Read Story
|
Wells Fargo Capital Finance announced Christian Conroy, Director of Loan Originations for Wells Fargo Capital Finance, is one of the winners of The M&A Advisor’s 40 Under 40 Emerging Leaders Awards.The M&A Advisor, renowned globally for its...
Read Story
|
Crestline Investors, Inc., a credit focused institutional alternative asset manager, today announced an additional closing of its Crestline Opportunity Fund III strategy, bringing capital in the strategy to $720 million. The strategy invests...
Read Story
|
Bank of America Merrill Lynch announced the launch of a new electronic platform, Instinct® Loans, for the secondary trading of syndicated corporate loans. The platform, which is part of the firm’s ongoing commitment to providing liquidity to clients...
Read Story
|
OnDeck announced that Daniel S. Henson was elected to its Board of Directors effective June 2, 2016. Henson brings nearly 30 years of experience from General Electric Company (GE), where he held a variety of senior positions at GE and General...
Read Story
|
Deloitte acted as the exclusive financial advisor to Original Additions TopCo Limited (Original Additions), a London-based beauty company and portfolio company of Lloyds Development Capital (LDC), in its sale to PDC Brands (PDC), a portfolio company...
Read Story
|
SquareTwo Financial Corporation, a leader in the distressed asset purchasing market in the United States and Canada, announced the early settlement of its previously announced exchange offer and the implementation of its comprehensive...
Read Story
|
First-quarter business development company (BDC) earnings reports showed some improvement in portfolio valuations but also underscored the broader challenges facing the sector, says Fitch Ratings. Capital constraints, low market volumes and risks of...
Read Story
|
Institutional demand for private credit is propelling capital formation in the U.S. middle market, as a flurry of newly created direct lending platforms enter the mix and existing alternative debt capital providers continue to raise money and add...
Read Story
|
Gordon Brothers Group, a global advisory, restructuring and investment firm announced today that it has acquired Blast–Off Brands, the Los Angeles-based licensing and branding company. Blast-Off Brands co-founder, Ramez Toubassy, will join Gordon...
Read Story
|
The current state of the capital markets is unclear, with pockets of liquidity and uncertainty with regards to what deals can get done. Nonetheless, the Federal Reserve’s interest rate increase has not had a dramatic effect, and demand for...
Read Story
|
The U.S. Treasury Department issued a white paper regarding its review of the online marketplace lending industry. The white paper titled, “Opportunities and Challenges in Online Marketplace Lending,” provides an overview of what the Treasury...
Read Story
|
Tiger Group, the international asset-valuation, advisory, capital solutions and disposition services firm, has established a new base of operations in the Southeast, the company announced.New York-based Tiger established its Southeast operations...
Read Story
|
Czech Asset Management, L.P. ("Czech") announced the final close of its third direct lending fund complex ("SJC III") with total commitments in excess of $1.7 billion, exceeding its $1.5 billion target. All of the capital raised in SJC III came from...
Read Story
|
Oxer Capital, Inc. has launched Oxer BCP Mezzanine Fund, L.P., a Small Business Investment Company (SBIC) licensed by the U.S. Small Business Administration (SBA) and created to fill the capital needs of lower middle-market private...
Read Story
|
1ST WEST Background Due Diligence announced the expansion of its risk intelligence platform. Building on 1ST WEST’S strong foundation and brand allegiance in the corporate finance industry, core competencies now include: 1ST WEST Corporate Finance™;...
Read Story
|
Monroe Capital completed the successful optional redemption of 100% of the Notes for MC Funding 2006-1, a middle market CLO that closed on December 21, 2006. The $409.5 million-middle market CLO, managed by Monroe Capital Management LLC, generated a...
Read Story
|
Monroe Capital Corporation announced that its wholly-owned subsidiary, Monroe Capital Corporation SBIC, LP (“MCC SBIC”), has received approval for $75.0 million in additional debentures from the United States Small Business Administration (“SBA”)....
Read Story
|
99 Cents Only Stores LLC's (99 Cents Only) near-term liquidity should remain adequate in fiscal 2017 (January) given significantly reduced inventory, further lowering of capex and Fitch Ratings' expectation that the company's gross margin will expand...
Read Story
|
Despite the varied strategies and risk appetites of business development companies (BDCs), one consistent trend across the sector is increasing leverage, according to a new report from Fitch Ratings on the 18 largest BDCs. Against the current market...
Read Story
|
The substantial increase over the past six years of first-lien debt with little or no subordinated debt to absorb losses will lower recovery rates for senior leveraged loan investors in the next downturn, said Moody's Investors Service.The prevalence...
Read Story
|
Therium Group Holdings Limited, a leading provider of litigation financing with over $300 million in committed capital, announced that it is launching operations in the United States with the creation of Therium Inc., a U.S. subsidiary headquartered...
Read Story
|
Investment into venture capital (VC)-backed companies in the United States has slowed in back-to-back quarters, according to Venture Pulse, the quarterly global report on VC trends published jointly by KPMG International and CB Insights.The U.S. saw...
Read Story
|
EverBank announced the consolidation of its Capital Equipment Finance and Business Credit units into a single organization serving commercial clients nationwide. The combined business will be called EverBank Business Finance, with offices in New...
Read Story
|
Hercules Capital, Inc., a specialty financing provider to innovative venture growth, pre-IPO and M&A stage companies backed by leading venture capital firms, provided its portfolio update for Q1 2016.“I am delighted to see our organization’s...
Read Story
|
Middle-market private companies in the Golub Capital Altman Index increased revenues by 9.08% and earnings (defined as earnings before interest, taxes, depreciation and amortization, or "EBITDA") by 5.05% year-over-year during the first two months of...
Read Story
|
Aquiline Capital Partners LLC, a New York-based private equity firm investing in financial services, announced the final closing of its third private equity fund, Aquiline Financial Services Fund III L.P., with over $1.1 billion in total capital...
Read Story
|
GE announced on April 1, 2016 that it has completed the previously announced sale of its commercial lending and leasing business in Japan, including Capital Finance, Fleet Services and Vendor Finance, to Sumitomo Mitsui Finance and Leasing Company...
Read Story
|
GE continues to quickly and successfully execute the transformation of GE Capital into a smaller, more focused financial services firm. Today, GE filed its request to the Financial Stability Oversight Council (FSOC) for rescission of GE Capital’s...
Read Story
|
In an attempt to gauge funding needs and challenges for mid- to large-sized businesses, Bibby Financial Services revealed the who, what and why of commercial finance needs for today’s financial decision makers and their outlook for 2016. This survey...
Read Story
|
GE and State Street Corporation announced an agreement for State Street to acquire GE Asset Management (GEAM), GE’s investment management arm, for up to $485 million, subject to adjustments. This announcement follows GE’s previous announcement in...
Read Story
|
GE has reached an agreement to sell GE Capital’s Franchise Finance U.S. hotel business to Western Alliance Bank, a wholly owned subsidiary of Western Alliance Bancorporation. The sale includes approximately $1.4 billion in ending net investment (ENI)...
Read Story
|
Tiger Capital Group is rebranding its remarketing services division to better reflect its global role as a broad-based disposition company with particular expertise in monetizing commercial and industrial assets.Formerly known as Tiger Remarketing...
Read Story
|
NewStar Financial announced that it has been named 2015 Lender of the Year by Mergers & Acquisitions (“M&A”), an independent digital news service and monthly magazine covering all aspects of deal-making in the middle market. The monthly magazine is...
Read Story
|
CIT Group Inc. today announces its strategic plan designed to drive long-term shareholder value. In connection with today’s (Mar. 23) strategic update call, CIT is delivering a slide presentation which is available at cit.com/investor.“Today, CIT...
Read Story
|
ORIX USA, a diversified financial services company, announced the formation of IX Capital Partners, a new investment initiative of its majority-owned subsidiary, Mariner Investment Group LLC (Mariner). IX Capital Partners – Private Equity is seeking...
Read Story
|
New York-based growth-focused private capital firm Bregal Sagemount closed a $40 million equity investment in Open Lending, LLC, securing a significant minority position in the automated lending services provider. Based in Austin, Texas, Open Lending...
Read Story
|
RSM US LLP (RSM) – a leading provider of audit, tax and consulting services to the middle market – released the first RSM Middle Market Business Index (MMBI). Developed in partnership with Moody's Analytics, the MMBI is designed to accurately reflect...
Read Story
|
Fitch Ratings believes asset quality for business development companies (BDCs) could deteriorate further in 2016 following challenging energy performance in 2015, according to Fitch's latest North American Financial Institutions Chart of the Month....
Read Story
|
Tech CU (Technology Credit Union) announced that the credit union has funded its largest Small Business Administration (SBA) 504 loan to date. At $22.4 million dollars, the loan provided financing to assist a commercial tenant's purchase of a 112,000...
Read Story
|
Northpoint Commercial Finance has developed a financing program for D&H Distributing (D&H) resellers. The program provides extended terms to D&H resellers who are also Nationwide Marketing Group members.Nationwide, North America’s largest buying and...
Read Story
|
SSG Capital Advisors, LLC ("SSG") acted as the investment banker to True Textiles, Inc. ("True Textiles" or the "Company") in the sale of all of its outstanding stock to Duvaltex, Inc. ("Duvaltex"). The transaction closed in February 2016. True...
Read Story
|
The National Center for the Middle Market (NCMM) has announced SunTrust Banks, Inc. as its new primary sponsor. The multi-year agreement will enable the NCMM to continue providing insights and analyses that drive growth, jobs and competitiveness in...
Read Story
|
Venture funding in the U.S. fintech sector jumped 72% in 2015, hitting a record $7.39 billion - up dramatically from $4.3 billion in 2014. The banner year was highlighted by newly minted Unicorns and increased involvement by financial services giants...
Read Story
|
The New York State Restaurant Association has selected Bizfi, a premier FinTech company which combines aggregation, funding and a participation marketplace for small businesses on one platform as the exclusive financial provider for its...
Read Story
|
Hercules Technology Growth Capital, Inc., a leading specialty financing provider to innovative venture growth, pre-IPO and M&A stage companies backed by leading venture capital firms, announced the company will change its name to Hercules Capital...
Read Story
February 22, 2016, 07:58 AM
|
The trailing 12-month (TTM) energy default rate is expected to finish February above 9% while the exploration and production (E&P) rate will surpass 14%, as continued declines in commodity prices are helping to push U.S. high-yield bond issuers in...
Read Story
February 22, 2016, 07:33 AM
|
Thoma Bravo, LLC, a leading private equity investment firm, has completed fundraising for Thoma Bravo Discover Fund (“Discover”). The fund – which will focus on lower middle-market software investments – closed with $1.074 billion of commitments...
Read Story
February 16, 2016, 07:39 AM
|
Mainspring Funding, a national distribution platform for investors and a lending connection source for small business borrowers, has released its newly enhanced platform, www.mainspringfunding.com, designed to give borrowers and qualified investors...
Read Story
February 11, 2016, 07:23 AM
|
Gordon Brothers Group, a global advisory, restructuring and investment firm specializing in the industrial, consumer products and retail sectors, announced that it has acquired the inventory, equipment and intellectual property assets of CHEF’S...
Read Story
February 10, 2016, 07:37 AM
|
PayNet, the leader in small business credit assessment, announces the PayNet Small Business Default Index (SBDFI), an economic indicator designed to gauge small business defaults and signal insolvency across multiple sectors of the economy at the...
Read Story
February 09, 2016, 07:38 AM
|
Activist investors are increasingly campaigning against U.S. financial institutions (FIs), a move driven by changes in the activists' approach and an increased alignment with regulatory objectives, according to Fitch Ratings.While traditionally...
Read Story
February 08, 2016, 07:29 AM
|
Conway MacKenzie Inc. has recently expanded its offerings with the launch of its Consumer Packaged Goods Advisory Services practice. Led by consumer packaged goods (CPG) veteran Mike Musso, the practice helps middle-market CPG companies and...
Read Story
February 05, 2016, 07:48 AM
|
Hilco Streambank and Piper Jaffray have been hired to assist Outdoor Direct Corporation and Q-Beam Corporation in the sale of their remaining assets. The assets include all intellectual property and remaining inventory associated with the Brinkmann®...
Read Story
February 04, 2016, 07:48 AM
|
SunTrust Banks, Inc. has launched a new Payments & Technology Industry Specialty in Commercial and Business Banking. This creates a unique opportunity to drive an industry focus on companies developing financial technology and digital payments...
Read Story
February 03, 2016, 07:54 AM
|
Dun & Bradstreet released D&B Credit, a cloud-based platform designed to provide more efficient credit and risk analytics to CFOs and finance departments in any industry. The platform will help finance professionals manage and monitor trade credit...
Read Story
January 25, 2016, 07:31 AM
|
Opus Bank announced it has entered into a marketing and referral agreement with OnDeck, the leader in online lending for small business, that will leverage Opus’ 58 retail banking office distribution located in major metro markets up and down the...
Read Story
January 22, 2016, 08:02 AM
|
Fitch's latest stress tests of BDCs focus on leverage ratios under downside scenarios to energy-related investments broadly, and oil & gas exposures specifically. The tests include a partial writedown of oil & gas-related investments, a partial...
Read Story
January 22, 2016, 07:56 AM
|
An expected Chapter 11 bankruptcy filing by Verso Corp. would boost the mid-January trailing 12-month (TTM) high yield bond default rate to 3.7% from 3.4% at year-end 2015, according to Fitch Ratings. A filing would affect approximately $2.7 billion...
Read Story
January 21, 2016, 07:21 AM
|
BlueVine, a leading online provider of working capital financing to small businesses, announced it has closed $40 million in funding, bringing the company’s total funding to $64 million to date. This Series C funding was led by an investment from...
Read Story
January 20, 2016, 07:43 AM
|
MMKT Exchange LLC, a leader in the middle market lending technology and data analytics space, announced today that it launched a quarterly Middle Market Loan Trend Report, beginning with Q3 2015. The report is free and can be downloaded here: See:...
Read Story
January 19, 2016, 07:39 AM
|
PNC Financial Services Group, Inc. (PNC) reported $1 billion in net income, down 3% on a linked-quarter basis, according to Fitch Ratings. Results benefitted from higher spread income, improved fees, and lower credit costs. This was offset by much...
Read Story
January 18, 2016, 07:39 AM
|
Hitachi Capital America Corp., a leader in transportation leasing and commercial lending, announced that its newly-formed trade finance division funded more than $1.4 billion through December 31, 2015 and plans to fund more than a total of $2 billion...
Read Story
January 18, 2016, 07:28 AM
|
From the fourth quarter Phoenix Management “Lending Climate in America” Survey, results shows continued expectations for interest rate spreads to increase indicating a less attractive market for borrowers moving forward into 2016.Lenders confidence...
Read Story
January 14, 2016, 07:24 AM
|
NewStar Business Credit, a subsidiary of NewStar Financial, Inc. announced the launch of a new unitranche loan product called SingleSource. SingleSource combines ABL and cash flow financing approaches to provide a creative and valuable “one-stop”...
Read Story
January 13, 2016, 08:14 AM
|
Capital One has been named the No. 1 lead arranger for healthcare leveraged loans up to $1 billion in size, according to Thomson Reuters. With the recent acquisition of GE Capital’s Healthcare Financial Services lending business, which has held the...
Read Story
January 12, 2016, 07:50 AM
|
Citizens Commercial Banking’s fifth-annual Middle Market M&A Outlook released today shows more than half of mid-sized U.S. companies are looking for transformative deals to help them jump-start revenues in the stabilized, but slow-growing U.S....
Read Story
January 12, 2016, 07:38 AM
|
Nautic Partners, LLC (“Nautic”), a leading middle-market private equity firm that focuses on investments in the healthcare, industrial products, and outsourced services sectors, has successfully completed its fund raising for Nautic Partners VIII...
Read Story
January 11, 2016, 07:17 AM
|
Antares Capital LP and Antares Holdings LP (collectively, “Antares”) and LStar Capital (“LStar”), the credit affiliate of Lone Star Funds announced that they will jointly provide access to unitranche loans for middle market borrowers through the...
Read Story
January 07, 2016, 07:26 AM
|
RAAM Global Energy Company has retained Blackhill Partners, an investment bank specializing in complex situations, as restructuring advisor to guide the company through a financial and operational reorganization.RAAM is a privately held Delaware...
Read Story
January 05, 2016, 07:43 AM
|
CI Capital Partners LLC, a New York-based private equity firm, announced the closing of its third fund, CI Capital Investors III, L.P. (the "Fund" or "Fund III"). Fund III was in the market for less than three months and closed at the Fund's target...
Read Story
January 04, 2016, 07:59 AM
|
Recent leveraged loan price volatility presents increased risks and opportunities for CLO managers, Fitch Ratings says. Managers in volatile markets are challenged to make credit calls that may significantly affect long-term performance for CLO...
Read Story
December 29, 2015, 07:33 AM
|
An article appearing on CFO.com notes that U.S. small businesses’ access to capital at its highest level since 2012, but demand for funding is down. The CFO.com article cites the latest results from Dun & Bradstreet and Pepperdine University’s...
Read Story
December 18, 2015, 07:47 AM
|
Bizfi announced that Metropolitan Equity Partners (“Metropolitan”) has provided a structured financing facility of $65 million to the company to drive growth.Closing this financing round enables Bizfi to:
Expand its suite of funding programs...
Read Story
December 16, 2015, 07:33 AM
|
CNG Source, Inc., a leading provider of turn-key CNG station design, equipment production, and installation, has retained Heritage Equity Partners to seek an investor, joint venture partner, or buyer for the business. Founded in 2011, CNG Source is...
Read Story
December 14, 2015, 07:43 AM
|
Gordon Brothers Group and Hilco Merchant Resources announced they have begun store closing sales for Los Angeles-based, Kitson, at all 17 locations throughout California, Oregon, and Nevada. Sales are offering discounts of up to 50% on all of the...
Read Story
December 14, 2015, 07:13 AM
|
Surplus capital and low interest rates are providing the currency to boost middle-market M&A activity, according to the Inside the Middle Market research report released by Brown Gibbons Lang & Company (BGL) www.bglco.com. Please access the report...
Read Story
December 11, 2015, 08:00 AM
|
Foresight Energy LP announced that Foresight Energy has received written notice from the Administrative Agent of the Credit Agreement, originally dated as of August 12, 2010, claiming that FELLC is in default under the Credit Agreement as a result of...
Read Story
December 11, 2015, 07:18 AM
|
GE announced that it has completed more than $100 billion in previously announced portfolio and business unit sales as part of its strategy to significantly reduce the size of GE Capital and apply for de-designation as a systemically important...
Read Story
December 10, 2015, 08:13 AM
|
Constellium N.V. announced that its indirect wholly-owned subsidiary Wise Alloys LLC ("Wise") is exploring alternatives to refinance its existing asset-based lending facility, including engaging in discussions with both current and potential new...
Read Story
December 10, 2015, 07:56 AM
|
Aligning operational risk management (ORM) with strategy is critical for financial institutions to effectively identify, assess and mitigate risks, however many have yet to fully align risk and strategy, according to a new survey report released by...
Read Story
December 10, 2015, 07:41 AM
|
Gordon Brothers Group, a global advisory, restructuring and investment firm specializing in the industrial, consumer products and retail sectors, announced that it has purchased the assets of Lincoln Paper and Tissue as part of a joint venture that...
Read Story
December 10, 2015, 07:17 AM
|
Marquette Business Credit announced that at the close of October new business commitments in 2015 jumped to $103MM, up 49% from the same time last year. With two months still left in the year, 2015 has already proven to be the best year in MBC’s 11...
Read Story
December 09, 2015, 07:38 AM
|
Carl Marks Advisors, a leading consulting and investment banking advisor to middle-market companies, announced that the firm has been recognized as an Outstanding Turnaround Firm for exceptional restructuring and advisory expertise it has brought to...
Read Story
December 07, 2015, 07:27 AM
|
The Small Business Investor Alliance (SBIA), the leading association of lower middle-market private equity funds and investors, gains a significant legislative victory today as the House and Senate passed the Small Business Investment Company (SBIC)...
Read Story
December 07, 2015, 07:18 AM
|
Asset quality reversion, growing regulatory scrutiny and profitability pressures are among the challenges facing finance and leasing companies (FLCs) globally in the coming year, supporting Fitch Ratings' negative sector outlook for 2016.The Rating...
Read Story
December 04, 2015, 07:11 AM
|
Reflecting a steep decline in energy costs, lower inflation and slow-but-steady economic growth, the 2015 PNC Christmas Price Index (PNC CPI) experienced its lowest growth rate in six years at 0.6 percent in the whimsical economic analysis by PNC...
Read Story
November 30, 2015, 07:18 AM
|
Accord Financial Corp. announced the launch of AccordAccess, a unique online lending program aimed at financing growth for small and medium-sized businesses across Canada. AccordAccess is a fast, flexible working capital solution that provides...
Read Story
November 25, 2015, 07:44 AM
|
A total of $2 billion of loan defaults in November led by Millennium Health LLC pushes the trailing 12-month (TTM) default rate to 1.7% from 1.5% at the end of October, according to Fitch Ratings. Millennium's $1.8 billion Chapter 11 filing on Nov....
Read Story
November 25, 2015, 07:38 AM
|
Main Street Capital Corporation announced the amendment of its five-year credit facility. The recently closed amendment provides several benefits to Main Street, including (i) a reduced interest rate on borrowings to the applicable LIBOR rate plus 1...
Read Story
November 25, 2015, 07:17 AM
|
Victory Park Capital (VPC), an asset management firm focused on middle-market debt and equity investments, and KKR, a leading global investment firm, announced today the $175 million asset-backed securitization of unsecured consumer loans originated...
Read Story
November 20, 2015, 07:45 AM
|
Old Hill Partners has launched a new hedge fund to take advantage of rising interest in private debt among institutional investors. The new fund will seek to generate current income by originating and investing in the senior secured credit loans of...
Read Story
November 19, 2015, 07:15 AM
|
Audax Group (“Audax”), a leading alternative asset management firm specializing in investments in North American middle market companies, announced the successful final close of Audax Private Equity Fund V at its hard cap of $2.25 billion of...
Read Story
November 18, 2015, 07:27 AM
|
Sankaty Advisors, the global credit affiliate of Bain Capital, and Regiment Capital Advisors, a Boston-based investment manager, today announced the signing of a definitive agreement for Sankaty to acquire the management contracts for four portfolios...
Read Story
November 17, 2015, 07:26 AM
|
The 2016 edition of Best Law Firms marks the fifth consecutive year global law firm Greenberg Traurig, LLP received the most overall first-tier rankings and the most first-tier metropolitan rankings in the report published by U.S. News – Best Lawyers...
Read Story
November 13, 2015, 08:03 AM
|
GE has reached an agreement to sell GE Capital’s Commercial Lending and Leasing portfolios in Australia and New Zealand (A&NZ) to Sankaty Advisors, the global credit affiliate of Bain Capital, advised and partially financed by Deutsche Bank. The...
Read Story
November 09, 2015, 07:35 AM
|
Mackinac Commercial Credit (MCC), a wholly owned subsidiary of Mackinac Financial Corporation (MFNC) (the parent company to mBank) has announced it has been merged into mBank and is now a division of the company as of October 1, 2015. Mackinac...
Read Story
November 05, 2015, 07:31 AM
|
SSG Capital Advisors acted as the investment banker to Thousand Oaks Holding Company, Inc. on the sale of substantially all of the assets of Aerosol Science Laboratories, Inc. ("ASL"), Sinutopic, Inc. d/b/a Sinus Dynamics ("SD") and Topical...
Read Story
October 30, 2015, 07:27 AM
|
U.S. middle-market companies continue to report strong revenue growth and confidence in the domestic economy, even as their level of comfort in the global economy and attitude toward investing in their business diminishes amid slowdowns in...
Read Story
October 29, 2015, 07:36 AM
|
Bizfi, a leading FinTech company with a platform that combines aggregation, funding and a participation marketplace for small businesses announced that it originated more than $127 million in business financing in the third quarter of 2015. This...
Read Story
October 27, 2015, 07:29 AM
|
The announcement by CIT Group Inc. that John A. Thain will retire as Chief Executive Officer (CEO) at the end of first-quarter 2016, following the announcement earlier this week that CIT's Chief Financial Officer (CFO) Scott T. Parker will depart the...
Read Story
October 23, 2015, 07:51 AM
|
American Trailer Works (ATW), North America’s largest manufacturer of utility and cargo trailers, announced an agreement with Northpoint Commercial Finance to provide an ATW-branded inventory finance program for its broad network of independent...
Read Story
October 23, 2015, 07:39 AM
|
CIT Group announced a series of strategic initiatives that are designed to advance the Company’s transition to a U.S. Commercial Bank. The Company announced that it would explore strategic alternatives for its $10 billion Commercial Air business, and...
Read Story
October 22, 2015, 07:49 AM
|
OnDeck announced a major expansion of its product suite. The company now offers the online lending industry's widest range of term loans and lines of credit, designed to meet the vast and varied financing needs of small businesses.Small business...
Read Story
October 21, 2015, 07:54 AM
|
Reuters reported that Toronto-Dominion Bank has begun laying off staff in Canada and the United States as part of a company-wide initiative to cut costs, according to two sources familiar with the matter.According to the Reuters report, TD, Canada’s...
Read Story
October 19, 2015, 08:06 AM
|
For the first time since the financial crisis, business development companies (BDCs) are facing a relatively significant near-term maturity wall, as $1.3 billion of convertible notes and other debt issued by Fitch-rated BDCs in 2011 and 2012 are...
Read Story
October 19, 2015, 07:50 AM
|
Palladium Equity Partners, a private investment firm with over $2.0 billion in assets under management, announced that one of its affiliates has made a significant investment in partnership with the co-founders and management of Fora Financial LLC...
Read Story
October 15, 2015, 07:35 AM
|
Comvest Partners, a private investment firm that provides equity and debt capital to middle-market companies across North America, announced the final close of its fifth private equity fund, Comvest Investment Partners V ("the Fund"), with $893...
Read Story
October 15, 2015, 07:26 AM
|
The National Center for the Middle Market (NCMM) and Cherry Bekaert LLP, a growth-oriented CPA firm, announced today findings from its ”Organizing for Innovation in the Middle Market” study. The research, which examined perspectives on innovation...
Read Story
October 14, 2015, 07:46 AM
|
According to an exclusive Reuters report, GE is in advanced talks to sell a specialty finance portfolio, worth more than $30 billion, to Wells Fargo & Co, according to a person familiar with the matter.According to the Reuters report, Wells Fargo has...
Read Story
October 12, 2015, 07:54 AM
|
Carl Marks Advisors acted as exclusive financial advisor and investment banker to Sun & Skin Care Research, LLC, maker of the Bull Frog, NO-AD, and Ocean Potion sun care brands, in the sale of certain of its assets (including such brands) to SolSkyn...
Read Story
October 12, 2015, 07:32 AM
|
Regions Bank and Fundation Group LLC announced an agreement that will combine the strengths of one of the nation's largest full service banks with that of a leading online lender to provide small businesses with a first of its kind, coordinated...
Read Story
October 09, 2015, 07:24 AM
|
Golub Capital issued the second edition of the quarterly Golub Capital Middle Market Report. The report, which features the Golub Capital Altman Index, showed that private middle market companies increased revenues by 7.95% and earnings (defined as...
Read Story
October 08, 2015, 07:58 AM
|
Mark S. Mandula, Managing Partner of United Capital Funding Corp announced today that United Capital Funding Corp. on October 1, 2015 has signed a Strategic Alliance with Yelton Capital Network, LLC, Mooresboro, North Carolina. "Due to a very strong...
Read Story
October 07, 2015, 07:26 AM
|
Trian Fund Management, L.P. disclosed that it has become a top ten shareholder of GE with a beneficial ownership of 98.5 million GE shares currently valued at approximately $2.5 billion. GE is now Trian’s largest investment.Trian Principals Nelson...
Read Story
October 05, 2015, 07:57 AM
|
Triumph Bancorp, Inc. announced the completion of the merger of its two bank subsidiaries, Triumph Community Bank, N.A. into Triumph Savings Bank, SSB. In connection with the merger, Triumph Savings Bank, SSB, as the surviving organization, also...
Read Story
October 02, 2015, 07:37 AM
|
Accel-KKR, a technology-focused private equity investment firm, announced the official close of its fifth buyout fund with $1.3 billion in committed capital. The fund, Accel-KKR Capital Partners V LP ("Fund V"), will continue Accel-KKR's long-term...
Read Story
September 28, 2015, 07:37 AM
|
Wellfleet Credit Partners announced the closing of a $360.0 million collateralized loan obligation (“CLO”), referred to as “Wellfleet CLO 2015-1.” Wellfleet CLO 2015-1 represents the debut CLO issuance for Wellfleet, the performing credit business of...
Read Story
September 25, 2015, 07:18 AM
|
NewStar Financial Inc., an internally-managed commercial finance company, announced it completed a $398 million term debt securitization known as NewStar Commercial Loan Funding 2015-2. All floating rate classes of notes were priced at par. NewStar...
Read Story
September 22, 2015, 07:14 AM
|
Deloitte Corporate Finance (DCF) acted as exclusive financial advisor to Butler Burgher Group LLC (BBG) on its recapitalization with Silver Oak Services Partners LLC (Silver Oak). The acquisition closed on July 1, 2015.Founded in 1992 and...
Read Story
September 17, 2015, 07:30 AM
|
Leading global professional services firm Alvarez & Marsal (A&M) has announced that its Global Forensic and Dispute Services group has been formally recognized by the National Security Agency’s Cyber Incident Response Assistance (CIRA) accreditation...
Read Story
September 16, 2015, 07:16 AM
|
Finacity Corporation ("Finacity") announced it has facilitated the successful addition of an Asian originator to an existing trade receivables securitization for The Manitowoc Company, Inc. The $185 million transaction now incorporates a new division...
Read Story
September 15, 2015, 07:55 AM
|
Applied Data Finance (“ADF”), a leading financial technology and consumer credit company, announced the launch of its Institutional Whole Loan Platform, with support from investor Colchis Capital Management (“Colchis”), to provide institutional...
Read Story
September 15, 2015, 07:18 AM
|
Bloomberg reported KKR & Co. and Apollo Global Management are seeking to acquire GE's inventory finance arm, a unit with $11 billion in assets people familiar with the matter said.According to Bloomberg, the buyout firms made bids two weeks ago for...
Read Story
September 14, 2015, 07:28 AM
|
Capital Southwest Corporation announced that it has formed a joint venture with Main Street Capital Corporation to form I-45 SLF LLC, a senior loan fund that will invest primarily in syndicated senior secured loans in the upper middle market. The...
Read Story
September 11, 2015, 08:02 AM
|
Capital Solutions, LLC, a provider of asset-based lending solutions, based in Glendale, CA, has expanded its product offerings to include mezzanine financing for companies with at least $10 million in annual sales and EBITDA in excess of $1.5 million...
Read Story
September 02, 2015, 07:16 AM
|
Hilco Streambank has been retained to sell the Santa.com trademarks and domain name. Interested parties will be invited to submit their bids privately prior to the 2015 holiday season. An auction date has not yet been scheduled. Hilco Streambank will...
Read Story
September 01, 2015, 07:47 AM
|
Hilco Industrial and Gordon Brothers Group announced they will run a private treaty sale process to sell an extensive fleet of trucking and heavy haul equipment from Butch’s Trucking Inc., one of the nation’s premier oil and gas servicing companies...
Read Story
August 31, 2015, 07:39 AM
|
Opus Bank announced the Small Business Administration (“SBA”) has issued a “Green Light” letter inviting Opus to continue its application process to obtain a license to form and operate a Small Business Investment Company (“SBIC”).The SBA issued a...
Read Story
August 31, 2015, 07:14 AM
|
CIT Group Inc. announced a joint venture with funds managed by TPG Special Situations Partners (TSSP), the dedicated special situations and credit platform with over $12 billion of assets under management, and part of TPG, a leading global private...
Read Story
August 27, 2015, 08:06 AM
|
American Seafoods, the largest harvester of wild-caught fish for human consumption in the U.S., announced it has closed a deleveraging recapitalization. The transaction was sponsored by Bregal Partners, as well as Pacific Seafood Group and other...
Read Story
August 21, 2015, 07:31 AM
|
After reaching a record high of $56.4B spent in 2014, the U.S. is on track to smash that record and break $70B in Venture Capital (VC) spending by the end of 2015, according to Venture Pulse Q2 ’15, the first in a global quarterly VC report series...
Read Story
August 20, 2015, 07:47 AM
|
KPMG Corporate Finance has added a team of professionals from Ewing Bemiss & Company, a middle market boutique investment bank that provides transaction advisory services to companies in the energy, power and utilities sectors. The Ewing team has...
Read Story
August 18, 2015, 07:22 AM
|
Hercules Offshore, Inc.'s prepackaged bankruptcy filed last week may be a leading indicator of further bankruptcies among other challenged high yield (HY) offshore drillers, according to Fitch Ratings.Hercules' restructuring plan involves the...
Read Story
August 17, 2015, 07:28 AM
|
Small business loan approval rates through institutional investors and alternative lenders remained higher than any other category in July 2015, according to the Biz2Credit Small Business Lending Index, the monthly analysis of 1,000 loan applications...
Read Story
August 13, 2015, 07:17 AM
|
Co-founders William L. Willhite (Bill) and James G. Wilmsen (Jamie) announced the formal launch of WILsquare Capital, a private equity firm formed to address the unique capital needs and growth opportunities of Midwestern and Southern businesses in...
Read Story
August 12, 2015, 07:59 AM
|
According to a SunTrust Banks, Inc. survey, more than 17 percent of businesses plan to enter or expand into new international markets within the next five years. For many small and mid-market companies, global trade could lead to increased profits...
Read Story
August 10, 2015, 07:58 AM
|
In an exclusive report, Reuters reported Capital One Financial is in exclusive talks to acquire General Electric Co's U.S. healthcare finance unit, in a deal likely to top $10 billion, according to people familiar with the matter.According to the...
Read Story
August 07, 2015, 07:52 AM
|
Reuters reported General Electric Co.'s GE Capital unit for now will remain designated as "systemically important" - a tag that carries greater regulatory scrutiny. Reuters cited an announcement made by a U.S. regulatory panel.The Financial Stability...
Read Story
August 03, 2015, 07:25 AM
|
Reuters reported the U.S. Small Business Administration hit the $18.75 billion cap for its main loan guarantee program on Thursday, July 23, 2015 forcing it to halt the funding of new loans with more than two months left in the fiscal year.According...
Read Story
|
Bloomberg reported Capital One Financial Corp. and Apollo Global Management are poised to make final bids for General Electric Co.’s health-care finance unit, people with knowledge of the matter said.According to the Bloomberg report, final offers...
Read Story
|
Dealstruck, the online lender that provides lending solutions for small businesses at every stage of their lifecycle, announced that it received another $10 million capital investment from Community Investment Management LLC ("CIM"), an investment...
Read Story
|
Deloitte Corporate Finance LLC (DCF) acted as exclusive financial advisor to Architectural Granite & Marble, Inc. on its majority recapitalization with Trive Capital. Founded in 1992 and headquartered in Austin, Texas, AG&M is a leading importer and...
Read Story
|
The Federal Reserve Board on Monday issued a final order that establishes enhanced prudential standards for General Electric Capital Corporation (GECC), a nonbank financial company designated by the Financial Stability Oversight Council (FSOC) for...
Read Story
|
Small business alternative lending company Merchant Cash and Capital (MCC) and its family of companies, including the newly launched Bizfi, announced the origination of more than $115 million in business financing in the second quarter of 2015. This...
Read Story
|
TD Securities U.S. announced a significant expansion to its Houston office, hiring a select team of employees that will increase its coverage of the U.S. energy sector. TD Securities also recently acquired a credit portfolio consisting of loan...
Read Story
|
Golub Capital BDC, Inc. announced that it originated $370.5 million in new middle-market investment commitments during the three months ended June 30, 2015. Approximately 85% of the new middle-market investment commitments were one stop loans, 14%...
Read Story
|
THL Credit Senior Loan Strategies, together with its parent, THL Credit Advisors LLC, announced that it has closed on a $616 million collateralized loan obligation ("CLO"), led by Credit Suisse. THL Credit has now closed on seven new CLOs totaling $3...
Read Story
|
Golub Capital issued the inaugural edition of the quarterly Golub Capital Middle Market Report. The report, which features the Golub Capital Altman Index, showed that private middle-market companies increased revenues by 9.26% and earnings (defined...
Read Story
|
Bloomberg reports that Capital One Financial Corp. and Apollo Global Management have made offers for General Electric Co.’s health-care finance unit, which could fetch more than $11 billion, according to people familiar with the matter.In addition...
Read Story
|
Carl Marks Advisors served as the exclusive financial advisor to Coastal Concrete Southeast II, LLC (“Coastal Concrete”) in the sale of its assets to Thomas Concrete Group AB, an international producer and distributor of high-quality concrete...
Read Story
|
Gordon Brothers Group, a global advisory, restructuring and investment firm specializing in the industrial, consumer products and retail sectors, announced that it has executed a definitive agreement with Rodan Transport (U.S.A) Ltd. and Hodges...
Read Story
|
Bloomberg reported that Wells Fargo & Co. and Toronto-Dominion Bank are exploring offers for a batch of U.S. commercial-lending businesses General Electric Co. is selling as whittles down its finance arm.According to the Bloomberg story, Capital One...
Read Story
|
GE announced today that it has reached an agreement to sell its U.S. Sponsor Finance business and a $3 billion bank loan portfolio to Canada Pension Plan Investment Board (CPPIB) in a transaction valued at approximately $12 billion.“We are excited to...
Read Story
|
Bloomberg reported GE. is poised for a $12 billion deal as soon as Monday to sell more than half of its U.S. private-equity lending arm to Canada Pension Plan Investment Board while Ares Management LP seeks to buy the rest of that business, people...
Read Story
|
Palmer Square Capital Management, a provider of structured credit, corporate credit and hedge fund strategies to a wide range of investors, announced that it has teamed up with the New York Stock Exchange (NYSE) as calculation agent and distributor...
Read Story
|
Bloomberg reported General Electric has put virtually all of its U.S. commercial loan businesses on the market after hiring banks to unload $20 billion of assets in its healthcare, railcar and franchise finance divisions, according to people with...
Read Story
|
Comvest Partners announced the final closing of its third direct lending fund, Comvest Capital III ("CVC III"), with $450 million in capital commitments. The $450 million amount is above the original cap, and is substantially higher than the original...
Read Story
|
OFS Capital, a business development company specializing in meeting the capital needs of middle-market borrowers, announced today that on May 28, 2015, it sold the majority of its lower-yielding senior club loan portfolio for approximately $67.3...
Read Story
|
Tree Line Capital Partners completed its first closing on Tree Line Direct Lending, LP, with the addition of a commitment from the University of Texas Investment Management Company (“UTIMCO”) alongside capital from funds managed by Stone Point...
Read Story
|
Reuters reported General Electric has launched the sales process for a roughly $40 billion portion of its U.S. commercial lending assets, a source familiar with the situation said on Sunday.Reuters cites a report from The Wall Street Journal...
Read Story
|
As underwriting conditions remain relatively competitive, the slowdown in growth is positive, yet is also a result of multiple challenges to the industry. As leverage levels have trended higher in recent years, BDCs have grown, but with little...
Read Story
|
Monroe Capital LLC announced the closing of a $412 million term debt securitization known as Monroe Capital BSL CLO 2015-1. The term financing was Monroe’s second CLO completed in the last six months and is secured mostly by broadly syndicated...
Read Story
|
Reuters reported that General Electric is prioritizing the sale of businesses that provide lending to U.S. and European private equity firms, and to healthcare-related businesses, GE Capital's top executive said on Wednesday.Reuters reported that...
Read Story
|
Wells Fargo Capital Finance announced Carey Do, Managing Director of Loan Originations for Wells Fargo Capital Finance, is one of the winners of The M&A Advisor’s 40 Under 40 Emerging Leaders Awards.The M&A Advisor, renowned globally for its...
Read Story
|
Bloomberg reported General Electric is running ahead of schedule on its plan to shed the bulk of its lending unit, with about $100 billion of assets to be unloaded this year.The Bloomberg report notes Chief Executive Officer Jeffrey Immelt stated he...
Read Story
|
With the possibility of rising interest rates on the horizon, middle market companies that fail to engage in any type of hedging activity are potentially leaving themselves exposed to higher costs of capital in the future. However, many of these...
Read Story
|
NXT Capital, LLC announced the closing of NXT Capital CLO 2015-1, a $408 million CLO. The financing, NXT’s fourth CLO in as many years, is secured almost exclusively by middle-market senior secured loans originated by NXT. The CLO has a four-year...
Read Story
|
Gordon Brothers Finance Company (GBFC) announced today that the firm has opened a new office in Stamford, Connecticut. Gordon Brothers Finance Company launched in November of last year through a strategic partnership between BlackRock Capital...
Read Story
|
Accord Financial Corp. announced the appointment of Mr. Gary J. Prager to Accord's Board of Directors.Prager is nationally recognized as a leader in the commercial finance industry in the U.S. Spanning almost two decades with CIT, Prager was...
Read Story
|
Gordon Brothers Group and Hilco Merchant Resources announced they will begin going-out-of-business sales at Simply Fashion and Dots retail locations nationwide beginning today, May 7th. Gordon Brothers Group and joint venture partner, Hilco Merchant...
Read Story
|
On Deck Capital announced it has expanded its small business lending services in Canada. Since 2007, OnDeck has delivered over $2 billion (USD) to American small businesses in more than 700 industries and has been lending in Canada since 2014. As...
Read Story
|
Bloomberg reports Andy Moser, the co-founder and chief executive officer of Salus Capital, has left the firm following losses from its $250 million loan to RadioShack Corp. according to four people familiar with the situation.The departure comes as...
Read Story
|
In a recent article, CFO.com's Joe St. Denis notes CFOs are well aware of the more common ingredients of financial fraud: bogus or premature revenue recognition, improper capitalization or valuation of assets, and the misuse of accruals to smooth...
Read Story
|
Bloomberg reported SunTrust, Apollo Global Management and Ares Management are weighing offers for a General Electric unit that lends to private-equity firms, people familiar with the matter said.Bloomberg reports that concern over possible staff...
Read Story
|
Wells Fargo Capital Finance, part of Wells Fargo & Company, announced that on Wednesday, Apr. 22, the Wells Fargo Capital Finance team in the UK took home the 2015 Asset-Based Lender of the Year award at the 14th Annual Private Equity Awards in...
Read Story
|
B. Riley Financial announced the formation of Great American Capital Partners, LLC (GACP) with an anchor investment from Corporate Capital Trust, Inc., a business development company advised by CNL Financial Advisors Company and KKR Credit Advisors...
Read Story
|
Monroe Capital LLC announced that the U.S. Small Business Administration (“SBA”) has selected an investment fund managed by Monroe Capital as the Small Business Investment Company (“SBIC”) of the Year.The SBIC program was created by Congress in 1958...
Read Story
|
Reuters reported that General Electric is in early-stage talks with Wells Fargo & Co about selling its entire $74 billion U.S. commercial lending and leasing (CLL) portfolio to the bank, according to a source familiar with the situation.According to...
Read Story
|
Bloomberg reported General Electric has held talks with “a broad geographic spectrum” of sovereign wealth funds as part of the effort to sell the bulk of its lending business, Chief Financial Officer Jeff Bornstein said.According to the Bloomberg...
Read Story
|
LSQ Funding Group, a leading technology-enabled provider of working capital solutions for small- and mid-sized businesses, announced that it has received a capital investment of over $100 million in a transaction led by Lovell Minnick Partners LLC, a...
Read Story
|
GE today announced that it will create a simpler, more valuable company by reducing the size of its financial businesses through the sale of most GE Capital assets and by focusing on continued investment and growth in its world-class industrial...
Read Story
|
Tiger Capital Group has relocated its New York office and formally designated the new site as its first corporate headquarters. The international asset valuation, advisory and disposition firm moved to 99 Park Avenue from 708 Third Avenue, where it...
Read Story
|
Clear Thinking Group announced that it is forming a strategic partnership with Threadstone Advisors in order to expand its portfolio of services to include M&A advisory and capital procurement. Working collaboratively with Threadstone will allow...
Read Story
|
From the first quarter Phoenix Management "Lending Climate in America" Survey, results show increased expectations for domestic commercial lending over the next six months. In Q1 2015, domestic lending expectations increased in all categories when...
Read Story
|
Austin Financial Services, Inc. and Diamond Creek Capital, LLC (DCC) announced their formation of a strategic alliance. The alliance of DCC, a special situations cash flow and enterprise value lender, and Austin, a privately funded asset based lender...
Read Story
|
Capitala Finance Corp. has formed a joint venture with Trinity Universal Insurance Company, a subsidiary of Kemper Corporation, to create Capitala Senior Liquid Loan Fund I, LLC ("CSLLF"). The joint venture is expected to invest primarily in senior...
Read Story
|
Levine Leichtman Capital Partners ("LLCP"), a Los Angeles-based private equity firm, announced today that it has partnered with management to complete the acquisition of CJ Fallon Limited ("CJ Fallon" or the "Company"). Based in Dublin, Ireland, CJ...
Read Story
|
Victory Park Capital Advisors, LLC (Victory Park Capital) announced that it has been retained by a newly formed, U.K.-based investment company to serve as investment manager. The company, VPC Specialty Lending Investments PLC, announced the...
Read Story
|
A rising economy and the increased availability of financing continue to give middle market company founders, and their private equity partners, reason to sell their companies and take advantage of high exit multiples. Lenders and banks are eager to...
Read Story
|
CFO.com reports Goldman Sachs BDC opened trading on the New York Stock Exchange Wednesday after raising $120 million in an initial public offering. The firm is the latest business development company (BDC) backed by a Wall Street investment bank that...
Read Story
|
Small business loan approval rates at big banks and institutional lenders continue to improve, attaining new post-recession highs in February 2015, according to the Biz2Credit Small Business Lending Index, the monthly analysis of 1,000 loan...
Read Story
|
K2 Capital Partners, a Los Angeles-based investment firm announced that it successfully held the final closing of its debut fund on February 27, 2015. Investors in K2 Capital Partners include leading investment institutions, family offices, and high...
Read Story
|
In 2014 global structured finance upgrades exceeded downgrades for the first time since the financial crisis, Fitch Ratings says. 12% of ratings improved while 7% were downgraded. The 'AAAsf' level exhibited the most stability, as almost 99% of...
Read Story
|
Garrison Capital announced that its wholly-owned subsidiary, Garrison Capital SBIC LP has received final committee approval for a license from the United States Small Business Administration (the "SBA") to operate as a Small Business Investment...
Read Story
|
The Wall Street Journal reports that General Electric Co. is considering making deeper cuts to GE Capital, having decided the returns from lending are no longer worth the ire it provokes among investors, people familiar with the matter said.According...
Read Story
|
Reuters reports Noble Group Ltd is now seeking an increased size of $3 billion to refinance debt coming due in May, even as it remains embroiled in a controversy over an obscure research firm's allegations of employing improper accounting rules.The...
Read Story
|
Online direct lender Dealstruck, Inc. announced the launch of its newest financing product, the Inventory Line of Credit (ILC). Designed to meet the needs of growing, profitable businesses with recurring needs to purchase inventory -- wholesalers...
Read Story
|
SunTrust Robinson Humphrey (STRH) announced the alignment of its Technology, Media & Telecom (TMT) Investment Banking Industry Practice Group. The TMT group will leverage market leading industry insight, capital markets expertise and cross sub-sector...
Read Story
|
AlixPartners, the global business advisory firm, announced that it had earned three major recognitions at M&A Advisors’ Annual Turnaround Awards, with Managing Director Randall S. Eisenberg receiving the 2015 Leadership Award, and the Firm earning...
Read Story
February 27, 2015, 07:24 AM
|
SSG Capital Advisors acted as the investment banker to Mark Group, Inc. in the sale of its utility business operations to ESB Holdings, Inc. in a management buyout. The transaction closed in January 2015. Mark Group's parent company is based in the U...
Read Story
February 25, 2015, 07:27 AM
|
The M&A Advisor is proud to announce that Peter S. Kaufman, President and Head of Restructuring and Distressed M&A at Gordian Group, Randall S. Eisenberg, Managing Director and Co-Head of the Turnaround & Restructuring Services practice at...
Read Story
February 23, 2015, 07:23 AM
|
Community Housing Capital (CHC), a community development financial institution (CDFI) and national community development lender, announced today a $5 million investment from TD Bank. This three-year credit facility will support CHC’s lending...
Read Story
February 23, 2015, 07:17 AM
|
Victory Park Capital (VPC), an asset management firm focused on middle market debt and equity investments, announced it will strengthen its capabilities in the asset liquidation industry through an investment in Yellen Partners, LLC (Yellen Partners)...
Read Story
February 18, 2015, 07:19 AM
|
Aquiline Capital Partners LLC, a New York-based private equity firm investing in financial services,has signed a definitive agreement to become the majority investor in Engs Commercial Finance, a vendor-based commercial lender that provides lease and...
Read Story
February 11, 2015, 07:17 AM
|
OurCrowd, the leading equity crowdfunding platform for accredited investors, announced that it lead a $16M Series E funding round for Borro, the UK-NY based, asset-backed online lender. OurCrowd was joined by Rocket Internet AG (RKET), Canaan...
Read Story
February 10, 2015, 07:39 AM
|
Deloitte Corporate Finance LLC ("DCF") acted as exclusive financial advisor to Bankers Healthcare Group, Inc. ("BHG"), a leading full-service commercial loan provider to healthcare professionals nationwide, in receiving a minority investment from...
Read Story
February 09, 2015, 08:06 AM
|
Store closing sales started today at over 1,700 RadioShack locations throughout the country. RadioShack, one of America's largest consumer electronics retailers, filed for Chapter 11 Bankruptcy Protection and has engaged a joint venture comprising...
Read Story
February 09, 2015, 07:50 AM
|
Target Canada announced that Gordon Brothers Group, Hilco Global (through its Canadian division, Merchant Retail Solutions) and affiliates of Great American Group will begin store closing sales at all Target Canada retail locations beginning tomorrow...
Read Story
February 05, 2015, 07:31 AM
|
Second-lien energy loans account for 23% of the total outstanding $40 billion, the highest percentage of any sector and well above the 8% overall market figure at the end of 2014, according to Fitch Ratings.The high price of oil and, importantly, the...
Read Story
February 04, 2015, 07:23 AM
|
MidCap FinCo Limited (together with its subsidiaries, “MidCap Financial”), in alliance with its investment manager, Apollo Capital Management, L.P., an affiliate of Apollo Global Management, announced the launch of an innovative direct origination...
Read Story
February 03, 2015, 08:05 AM
|
Hedge fund Standard General LP is in talks to serve as the lead bidder at a bankruptcy auction for RadioShack Corp, the struggling consumer electronics retailer, the Wall Street Journal and Reuters reported on Feb. 1, citing people familiar with the...
Read Story
February 02, 2015, 07:41 AM
|
As the Federal Reserve holds firm on keeping interest rates the lowest in decades, while ceasing to pump up stocks with quantitative easing – causing increased market fluctuations – enthusiasm will remain elevated for investors seeking a high...
Read Story
January 29, 2015, 07:13 AM
|
NXT Capital, LLC announced the closing of NXT Capital Senior Loan Fund III, LP, a leveraged loan fund that will invest in first and second lien loan transactions originated and underwritten by NXT Capital’s Corporate Finance Group. Transactions...
Read Story
January 28, 2015, 08:08 AM
|
GE Capital’s Telecom, Media and Technology (TMT) financing business announced it completed more than 50 transactions totaling $5 billion during 2014, including $1.3 billion across 17 technology sector transactions. The TMT business addressed the...
Read Story
January 23, 2015, 07:50 AM
|
NewStar Financial anounced that it has closed the NewStar Clarendon Fund CLO (the "Clarendon Fund" or the "Fund"), a $400 million middle market CLO used to provide leverage for a managed credit fund anchored by an investment from funds sponsored by...
Read Story
January 16, 2015, 07:39 AM
|
From the fourth quarter Phoenix Management "Lending Climate in America" Survey, results show a changing lending environment. For the first time since Q4 2010, more lenders expect their financial institution to tighten their loan structures than relax...
Read Story
January 13, 2015, 08:00 AM
|
GE Capital’s Healthcare Financial Services (HFS) business provided more than $10.5 billion in financing to customers across more than 240 transactions in 2014, an increase of 20% percent from the prior year. For the third consecutive year, GE Capital...
Read Story
January 13, 2015, 07:19 AM
|
GE Antares, a unit of GE Capital, announced today it closed more than 200 senior loan transactions with corporate borrowers across 88 private equity firms, including 62 new platforms, totaling more than $27 billion in financing in 2014, making it the...
Read Story
January 12, 2015, 08:05 AM
|
Deloitte Corporate Finance LLC (DCF) acted as the financial advisor to MRS BPO, LLC (“MRS”) on its investment in American Capital Recovery, Inc. (“American Capital Recovery”). With MRS’ investment in American Capital Recovery, MRS will be able to...
Read Story
January 09, 2015, 07:39 AM
|
Hilco Brands, a division of Chicago-based Hilco Global, and one of the owners of the iconic fashion label Halston, announced this week that Halston sold its H by Halston and H Halston brands to New York-based Xcel Brands, Inc. and retained its...
Read Story
January 07, 2015, 07:23 AM
|
Accelerating loan growth accompanied by eased underwriting is a leading concern for U.S. banks in the Office of the Comptroller of the Currency's (OCC) semiannual Risk Perspective Report released in late December. The report, a review of key risks...
Read Story
December 30, 2014, 08:12 AM
|
Gordon Brothers Group, Hilco Global and Pohlad Family Capital Fund (PFCF) announced today that PFCF and another family office investor have acquired interests in PLR IP Holdings, LLC, the owner of the Polaroid brand and related intellectual property...
Read Story
December 30, 2014, 07:54 AM
|
Ritchie Bros. Auctioneers sold approximately $4.2 billion of equipment through 349 unreserved auctions and its online equipment marketplace during 2014. This is a new annual record for the company, and represents a 10.5% increase in gross auction...
Read Story
December 30, 2014, 07:13 AM
|
Low interest rates, strong economic growth, strong balance sheets, and a lack of commitment from large banks will keep the market strong for asset-backed lending for small and medium-sized businesses in 2015, says Old Hill Partners Inc., in its 2015...
Read Story
December 23, 2014, 07:33 AM
|
Bruce Van Saun, Chairman and CEO of Citizens Financial Group issued the following statement this morning:“It is with deep sadness that I announce that Robert Matthews, Vice Chairman of Commercial Banking and a member of the Citizens Financial Group...
Read Story
December 22, 2014, 07:51 AM
|
Strategic Value Partners, a leading global investment firm focused on distressed and deep value opportunities, today announced the successful final closing of Strategic Value Special Situations Fund III ("SVSS III" or the "Fund"). The Fund raised a...
Read Story
December 11, 2014, 06:52 AM
|
Salus Capital Partners, LLC, a private commercial finance and asset management company providing senior-secured asset-based loans to the middle market, announced that the restructuring of the John Forsyth Shirt Company was named the M&A Advisor...
Read Story
December 09, 2014, 07:15 AM
|
NewStar Financial Inc., a specialized commercial finance company, GSO Capital Partners ("GSO"), the credit division of the Blackstone Group), and Franklin Square Capital Partners, the largest manager of business development companies, announced today...
Read Story
December 05, 2014, 07:39 AM
|
SSG Capital Advisors acted as the investment banker to A to Z Tire & Battery, Inc. in the placement of a $21 million revolving credit facility. Proceeds will be used to refinance existing indebtedness and provide capital to support the Company's...
Read Story
December 03, 2014, 07:38 AM
|
Deloitte Corporate Finance LLC (“DCF”) acted as the exclusive financial advisor to Specialty Commodities, Inc. (“SCI”), a portfolio company of Goldner Hawn Johnson & Morrison, Inc. (“GHJ&M”), in its sale to Archer Daniels Midland Company (“ADM”). ...
Read Story
December 02, 2014, 07:25 AM
|
In a recent article, Forbes reported that directly investing in small and middle-market companies is becoming more appealing to family offices. While many still commit monies to private equity and venture capital funds, there is a strong and growing...
Read Story
December 01, 2014, 07:57 AM
|
Bloomberg reported the Federal Reserve said it plans to oversee GE Capital Corp. in a similar manner to the way it supervises large bank-holding companies.
According to the Bloomberg report, the Fed asked for public comment today on its regulation...
Read Story
November 26, 2014, 07:44 AM
|
Large banks continue to eschew lower middle-market loans because of heightened regulatory scrutiny and unattractive risk-adjusted spreads as they concentrate on larger, more fertile customers, says Old Hill Partners Inc., in its latest market...
Read Story
November 25, 2014, 07:35 AM
|
FTI Consulting announced the results of a new study, State of Transaction Opinions, which examines attitudes on how well fairness and solvency opinions hold up to the scrutiny associated with post-transaction litigation. The poll of transaction...
Read Story
November 19, 2014, 07:03 AM
|
BMO Capital Markets, the investment & corporate banking arm of BMO Financial Group, is adding trade finance booking capabilities in Hong Kong as it moves to serve more trade in Asia.Upgrading its Trade Finance capability in Hong Kong, a huge global...
Read Story
November 18, 2014, 08:04 AM
|
Triumph Bancorp, Inc. announced it has completed its initial public offering of 6.7 million shares of its common stock at a price to the public of $12.00 per share. Triumph's common stock began trading on the NASDAQ Global Select Market on November 7...
Read Story
November 14, 2014, 07:19 AM
|
Capital markets activity continues to accelerate, as the likelihood of rising interest rates looms in the near future, which means now is the ideal time for borrowers to explore interest rate hedges. These insights and others are shared by Neil...
Read Story
November 13, 2014, 07:41 AM
|
NewStar Financial, a specialized commercial finance company, GSO Capital Partners, the credit division of Blackstone, and Franklin Square Capital Partners, the largest manager of business development companies, announced today that they have formed a...
Read Story
November 06, 2014, 07:44 AM
|
Sound Harbor Partners announced the closing of Sound Harbor Loan Fund 2014-1, a Collateralized Loan Obligation ("CLO") fund totaling $457 million. The fund invests primarily in USD-denominated senior secured corporate loans.The transaction is Sound...
Read Story
November 03, 2014, 07:37 AM
|
Burdale Financial Limited (Burdale), a Wells Fargo company said that it will adopt the trade name Wells Fargo Capital Finance. Wells Fargo Capital Finance is a leader in asset-based finance in the U.S., and acquired Burdale in February 2012. Wells...
Read Story
October 29, 2014, 07:34 AM
|
TPG Specialty Lending, Inc. (TSL) has favorably amended and extended its senior secured revolving credit facility (“the amended facility”) with its bank group. The amended facility has a borrowing rate of LIBOR plus 200 basis points, a 25 basis point...
Read Story
October 27, 2014, 07:18 AM
|
Venture capitalists invested $9.9 billion in 1,023 deals in the third quarter of 2014, according to the MoneyTree™ Report from PricewaterhouseCoopers LLP (PwC) and the National Venture Capital Association (NVCA), based on data provided by Thomson...
Read Story
October 17, 2014, 07:41 AM
|
Carl Marks & Co. (Carl Marks), a leading middle-market merchant bank with nearly 90 years of history and a track record of incubating investment businesses, has entered into a new partnership, the first in its renewed drive to build businesses on its...
Read Story
October 16, 2014, 07:38 AM
|
The Small Business Investor Alliance (SBIA), the leading association for lower middle-market private equity funds and investors, today announced that Small Business Investment Companies (SBICs) invested $5.4 billion in FY 2014. This represents a 54%...
Read Story
October 15, 2014, 07:38 AM
|
Essar Steel Algoma Inc. (Algoma) announced it intends to launch a comprehensive refinancing of its current capital structure, beginning with investor meetings, including a bank meeting with investors on Oct. 15, 2014.As part of the refinancing...
Read Story
October 13, 2014, 07:41 AM
|
American Capital, Ltd. has closed American Capital Equity III, LP ("ACE III"), its new private equity fund focused on investing in U.S. companies in the lower middle market. The transaction further expands American Capital's asset management...
Read Story
September 25, 2014, 07:56 AM
|
Analysts with GA Advisory and Valuation Services, LLC, a division of Great American Group, Inc., report that pricing has increased for a number of non-ferrous metals in recent months amid tight physical supplies, despite lackluster demand in certain...
Read Story
September 24, 2014, 07:33 AM
|
CIT Group announced the launch of View from the Middle™ (VftM), its rebranded content marketing program that will offer business insights and trends, specific industry expertise and content of value to executives in companies of all sizes.Insights...
Read Story
September 24, 2014, 07:14 AM
|
Business development companies (BDCs) are increasingly using off balance sheet investment vehicles called senior secured loan programs (SSLPs) to increase their effective portfolio leverage without running afoul of regulatory limits on balance sheet...
Read Story
September 23, 2014, 08:03 AM
|
BlackArch Partners announced the sale of Tri-Northern Acquisition Holdings, Inc. (“Tri-Ed” or the “Company”), a portfolio company of Audax Group, to Anixter International Inc. for a purchase price of $420 million, subject to working capital, escrow...
Read Story
September 19, 2014, 07:27 AM
|
Monroe Capital announced the closing of a $358 million term debt securitization known as Monroe Capital CLO 2014-1, Ltd. The term financing was Monroe’s first CLO since the financial crisis and is secured mostly by middle-market senior secured loans...
Read Story
September 18, 2014, 05:58 AM
|
Super G Funding, LLC, a leading national provider of residual and cash flow based loans to small and midsize businesses, announced that it has held its first closing as part of a $100 million fund commitment from Inmost Discovery Capital LLC, a...
Read Story
September 15, 2014, 07:09 AM
|
Molycorp, Inc. ("Molycorp" or the "Company") announced the successful close of its previously announced $400 million financing arrangement with certain investment vehicles affiliated with Oaktree Capital Management, L.P. (collectively...
Read Story
September 12, 2014, 07:13 AM
|
Education Management Corporation, one of the largest providers of post-secondary education in North America, has finalized a Restructuring Support Agreement previously announced on Aug. 27, 2014. Creditors holding in excess of 94 percent of the...
Read Story
September 08, 2014, 07:48 AM
|
The motorsports industry, which includes motorcycles, all-terrain vehicles (ATV), utility-terrain vehicles (UTVs), snowmobiles, and personal watercraft, is healthy and growing, according to performance data from GE Capital, Commercial Distribution...
Read Story
September 05, 2014, 07:11 AM
|
Fifth Street Management ("Fifth Street") announced the closing of Fifth Street Senior Loan Fund II, LLC ("SLF II"), a $305 million multi-tranche financing facility that will invest in middle-market senior secured loans. SLF II raised capital in...
Read Story
September 03, 2014, 07:13 AM
|
GE Capital’s Commercial Distribution Finance (CDF) business sees positive trends in the Canadian motorsports and recreational vehicle (RV) industries through the first half of the year, while the marine industry is experiencing a slight slowdown...
Read Story
September 02, 2014, 07:13 AM
|
NexBank Capital, Inc., a fully-integrated financial services company, has announced the completion of the final tranche of a successful $40 million bank term loan from multiple lenders.The loan closed fully subscribed with commitments received from a...
Read Story
August 28, 2014, 07:19 AM
|
Brown Gibbons Lang & Company (BGL) announced the recapitalization of Hynes Industries, Inc. and Hynes Kokomo, LLC ("Hynes") by Resilience Capital Partners. Members of the Bresnahan family will retain a minority ownership stake in the business. The...
Read Story
August 27, 2014, 07:08 AM
|
Victory Park Capital (VPC), an asset management firm focused on middle-market debt and equity investments, announced that it will invest $100 million in Upstart loans over the next two years. Based in Palo Alto, Calif. Upstart is a lending platform...
Read Story
August 21, 2014, 07:52 AM
|
Cole Taylor Business Capital is now MB Business Capital as MB Financial, Inc. completed its acquisition of Taylor Capital Group, Inc. In commenting on the transaction, MB Financial Bank President and Chief Executive Officer Mark A. Hoppe, said, “The...
Read Story
August 20, 2014, 07:08 AM
|
Square has secured an investment from Victory Park Capital to significantly expand Square Capital. This small business financing program helps businesses grow by giving them access to funds in a quick and simple way. The investment will allow Square...
Read Story
August 20, 2014, 07:03 AM
|
Golub Capital BDC, Inc. announced that RGA Reinsurance Company ("RGA") has reached an agreement with United Insurance Company of America ("United Insurance") pursuant to which United Insurance has transferred its interest in Senior Loan Fund LLC...
Read Story
August 18, 2014, 07:26 AM
|
Hitachi Government Finance, a division of Hitachi Capital America Corp., announced a new partnership with Lafayette Federal Credit Union. The partnership allows the two organizations to combine their resources to offer government receivables...
Read Story
August 13, 2014, 07:25 AM
|
Tiger Capital Group announced the launch of an Australian-based venture focused on bringing leading-edge asset advisory, valuation and liquidity services, as well as debt and equity capital, to the Australian marketplace. The launch of Tiger Asset...
Read Story
August 11, 2014, 07:50 AM
|
Carl Marks Advisors (“Carl Marks”) announced that partners, Mark Claster, Warren Feder, Duff Meyercord, Evan Tomaskovic, and Christopher Wu have been recognized in the latest Special Report on Outstanding Investment Banking Firms by Turnarounds &...
Read Story
August 08, 2014, 07:29 AM
|
Gavin/Solmonese Managing Director Wayne P. Weitz was recently elected to the board of directors of The People’s Emergency Center (PEC), a West Philadelphia agency dedicated to nurturing families, strengthening neighborhoods and driving change in West...
Read Story
August 08, 2014, 07:00 AM
|
Even in the midst of significant changes, in large part due to the Affordable Care Act, private equity firms continue to seek out deals in the healthcare sector. Due to consistent demand, an aging population and constant innovation that continue to...
Read Story
August 06, 2014, 06:50 AM
|
Deloitte Corporate Finance LLC (“DCF”) acted as the exclusive financial advisor to Dallas-based Rent A Toll, Ltd. (“Rent A Toll” or the “Company”) in its sale of substantially all its assets to American Traffic Solutions, Inc. (“ATS”). Rent A Toll...
Read Story
August 06, 2014, 06:30 AM
|
KKR and Preferred Sands, one of North America’s largest producers of sand and resin coated proppants, today announced the signing of definitive agreements under which KKR, in conjunction with Jefferies LLC, has committed to provide a comprehensive...
Read Story
|
Consonance Capital Partners (“CCP”), the private equity arm of Consonance Capital, a leading healthcare-focused investment firm, announced the final closing of its $500 million healthcare private equity fund. The fund was oversubscribed, surpassing...
Read Story
|
Optimism regarding the direction of the domestic economy remained positive among U.S. industrial manufacturers during the second quarter of 2014, according to the Q2 2014 Manufacturing Barometer, released by PwC US. In addition to the positive...
Read Story
|
Burlington Stores, a nationally recognized off-price retailer of high-quality, branded apparel at everyday low prices, announced the launch of a debt refinancing transaction and provided updated comparable store sales guidance for the second quarter...
Read Story
|
Alvarez & Marsal Real Estate Advisory Services announced it is assisting the U.S. Navy in a search for a developer for a 12-acre site in Southern Maryland. The Navy has issued a request for qualifications for a lease opportunity at Navy Recreation...
Read Story
|
Z Capital Partners announced the final close of Z Capital Partners Special Situations Fund II, L.P. ("Fund II") on June 30, 2014, with total capital commitments of $750 million. Fund II generated significant interest from investors and exceeded its...
Read Story
|
Hilco Streambank has been retained by PoshBrands LLC to conduct a sale of assets, including its IP portfolio of trademarks, domain names, and customer list. Posh Brands, LLC operates as an e-commerce retailer of upscale furniture and interior design...
Read Story
|
NewStar Financial has increased the size of the NewStar Arlington Senior Loan Program (the "Arlington Fund" or the "Program") to $400 million and completed a term debt securitization to provide leverage for the Program. The Arlington Fund was formed...
Read Story
|
Hilco Streambank announced the successful completion of its most recent online auction of IP addresses on IPv4Auctions.com. Registered bidders from around the world were able to place bids and watch the auctions in real-time. Auction blocks sold for...
Read Story
|
American Stock Transfer & Trust Company, LLC (AST) announced that its affiliate, AST Fund Solutions, LLC, has completed its purchase of Donlin, Recano & Company, Inc. (Donlin Recano). The company offers leading bankruptcy claims administration and...
Read Story
|
Amid heightened competition and regulatory uncertainty, the private equity industry is exhibiting growing confidence and appetite for investment. A study jointly released by global valuation and corporation finance advisor, Duff & Phelps, and...
Read Story
|
Versa Capital Management, LLC (Versa) announced it has created BCC Software (BCC) as a new company independent of its former parent, Bell and Howell, LLC. BCC has a broad reputation as an industry leader in postal software solutions and data...
Read Story
|
A notable share of U.S. small businesses and middle-market companies are obtaining credit from non-bank providers. The most troubling news for banks—and possibly for regulators: nine out of ten companies that borrowed from these alternative lenders...
Read Story
|
The Solvenz Group announced the launch of Solvenz Energy & Petroleum (Solvenz E&P), asset-backed lending platform operating in the U.S. and Canada. Solvenz E&P, through its bankruptcy remote special purpose series of companies will provide...
Read Story
|
Golub Capital BDC, Inc., a business development company, announced today that on June 5, 2014 its wholly-owned and consolidated subsidiary, Golub Capital BDC CLO 2014 LLC (the "Issuer"), completed its previously announced $402 million term debt...
Read Story
|
Great American Group, Inc., a leading provider of asset disposition and financial advisory services, announced the closing of its previously announced $51.4 million private placement offering through the sale of approximately 10.3 million shares of...
Read Story
|
Shore Capital Partners, a Chicago-based healthcare focused private equity firm, announced today that it has successfully completed fundraising for Shore Capital Partners Fund I (“Fund I”), which was substantially oversubscribed and closed with $112.5...
Read Story
|
Capital One Bank today introduced Capital One Multifamily Finance, a commercial real estate organization that combines Capital One’s balance sheet and agency lending groups into a single entity. The announcement marks the next stage in Capital One’s...
Read Story
|
LBC Credit Partners ("LBC”) announced the closing of LBC Credit Partners III, L.P. (“LBC III”) fund, with $839 million of equity capital commitments. This exceeded both its target of $650 million and its initial hard cap of $800 million. The new...
Read Story
|
First Capital, a commercial finance company with a national presence, announced it has originated 14 deals with $100 million of new credit lines in 2014. Working capital lines of credit were extended to small and medium-sized businesses in...
Read Story
|
An anticipated wave of mergers and acquisitions by larger middle-market companies could have a ripple effect on smaller middle-market businesses, according to Cindy Crotty, head of KeyBank’s Business Banking and Middle Market banking segments.The May...
Read Story
|
TAB Bank announced the introduction of a new and innovative loan product called Flex ABL. This new product combines the flexibility of a factoring line of credit with the structure of an asset-based lending facility. As an industry leader in...
Read Story
|
NXT Capital announced the closing of NXT Capital CLO 2014-1, a $357 million collateralized loan obligation (CLO). The financing, NXT’s third CLO in three years, is secured almost exclusively by middle-market senior secured loans originated by NXT and...
Read Story
|
Fifth Street Finance Corp. announced that it has formed a joint venture with Trinity Universal Insurance Company ("Trinity"), a subsidiary of Kemper Corporation, to create Senior Loan Fund JV I, LLC ("SLF JV I"). The joint venture is expected to...
Read Story
|
Merger, acquisition and leveraged buyout activity levels will continue to rise in the U.S. mid-market, according to a new survey of middle market dealmakers by GE Antares Capital, the leading lender for private equity-backed middle market...
Read Story
|
Bloomberg reports that AllianceBernstein Holding raised $500 million and hired a team from a Barclays unit that was divested last year to start a middle-market lending business.
The investment-management firm hired five people, led by Brent...
Read Story
|
NewStar Financial Inc., a specialized commercial finance company, announced that it completed a $348 million term debt securitization known as NewStar Commercial Loan Funding 2014-1. All floating rate classes of notes were priced at par and the...
Read Story
|
Huron Consulting Group announced that it has established Huron Transaction Advisory LLC to provide broker-dealer, corporate finance and investment banking services to new and existing clients. “Combined with our existing platform of services, our...
Read Story
|
Five shareholders from the international law firm Greenberg Traurig LLP have been named 2014 “Rising Stars” by Law360. According to the publication, the 2014 Rising Stars list includes 163 attorneys under 40, chosen from more than 1,000 entries...
Read Story
|
According to a Bloomberg article, CIT Group agreed to sell its student lending business to Nelnet Inc. for about $1.1 billion.Most of the proceeds will be used to repay debt secured by student loans, leading to a net gain in the second quarter, CIT...
Read Story
|
According to a recent survey of more than 1,000 merger and acquisition (M&A) professionals, investors and advisors conducted by KPMG LLP, the audit, tax and advisory firm, 44 percent indicated that M&A activity will be highest this year among...
Read Story
|
Euronet Worldwide, Inc., a leading global electronic payments provider and distributor, announced the amendment and expansion of its secured credit facility with a syndicate of financial institutions. The new agreement increases the revolving portion...
Read Story
|
Deloitte Corporate Finance LLC ("DCF") is acting as financial advisor to California-based Solid Concepts Inc. ("Solid Concepts"), the largest independent additive manufacturing service bureau in North America, in its sale to Stratasys Ltd. (NASDAQ:...
Read Story
|
Bibby Financial Services announced the addition of asset based lending to its financial products portfolio.
“At Bibby Financial Services we provide access to working capital through factoring, or accounts receivable financing,” said Leigh Lones, CEO...
Read Story
|
MiraMed Global Services (MiraMed), headquartered in Jackson, Michigan, is pleased to announce that it has engaged Deloitte Corporate Finance LLC (DCF) to provide corporate finance advisory services to assist MiraMed in identifying and executing...
Read Story
|
TCP Capital Corp., a business development company ("BDC"), today announced that its wholly-owned subsidiary, TCPC SBIC, LP, has received final committee approval for a license from the United States Small Business Administration (the “SBA”) to...
Read Story
|
GlassRatner Advisory & Capital Group announced the formation and registration of a related broker-dealer, GlassRatner Securities, LLC. The formation of an SEC registered and FINRA and SIPC member broker-dealer to pursue more Investment Banking...
Read Story
|
Fifth Street Senior Floating Rate Corp. announced that it and GF Funding 2014, an entity controlled by the Glick family, have signed a Letter of Intent to form a strategic partnership to co-invest primarily in senior secured loans of middle-market...
Read Story
|
Eastern Funding LLC, one of the country's leading commercial finance companies, has achieved a new milestone in financing small business loans. With customers operating in multiple industries across the United States, Eastern Funding's $1 Billion in...
Read Story
|
EverBank and the commercial finance industry at large is mourning the loss of industry leader and ELFA Director Jim McGrane, who passed away on March 13. EverBank has provided the following statement:
It is with heavy hearts that we tell you that...
Read Story
|
The removal of business development companies (BDCs) from the S&P and Russell indices will likely reduce the liquidity of their shares and increase their cost to raise equity in the near-term, according to Fitch. The removals involved 33 BDCs...
Read Story
|
TPG Specialty Lending, Inc. announced that it plans to make an initial public offering of 7,000,000 shares of its common stock. TSL also plans to grant the underwriters an overallotment option to purchase up to an additional 1,050,000 shares of...
Read Story
|
LLR Partners announces the final closing of LLR Equity Partners IV, L.P. (“LLR 4”), a $950 million private equity fund that builds on the firm’s 15-year history of investing in and partnering with middle-market growth companies. The firm thanks its...
Read Story
|
A Reuters article notes that Washington D.C. law and lobbying firm Patton Boggs is working with restructuring lawyers as it deals with waning revenue and continues to discuss a merger with a larger law firm. The article cites information obtained...
Read Story
|
Anderson Kill, a national law firm, has announced that it has formed a Banking and Lending Group to consolidate the services its attorneys provide to banks and other financial institutions. The group will be chaired by Inez M. Markovich, a...
Read Story
|
SSG Capital Advisors, LLC (“SSG”), a leading independent special situations investment bank, announced the formation of Global Special Situations M&A (“GSSMA” or the “Alliance”) along with founding partner firms, Saxenhammer & Co., based in Germany...
Read Story
|
The demand for lending in the middle market is robust, according to Jeff Kilrea, Co-Head and Managing Director of CIT Sponsor Finance at CIT Group, Inc., a leading provider of financing and advisory services to small businesses and middle market...
Read Story
|
Monroe Capital Corporation, a business development company, today announced that its wholly-owned subsidiary, Monroe Capital Corporation SBIC, LP ("MCC SBIC"), has received approval for a license from the United States Small Business Administration (...
Read Story
|
TBS Factoring Service announced that it is expanding beyond its transportation roots to serve a broad range of businesses in the United States through TBS Capital Funding, a newly formed subsidiary.
TBS Capital Funding will be headed by Senior Vice...
Read Story
|
After over 25 years in business, Dots, LLC, an Ohio-based women’s fashion discount retailer, is closing its doors. The company filed for Chapter 11 protection on January 20, 2014. On February 27th, Gordon Brothers Group, a global advisory...
Read Story
February 28, 2014, 07:32 AM
|
Leading global professional services firm Alvarez & Marsal (A&M) has formed a dedicated global Enterprise Services practice to guide companies through reframing their operations to better compete in the evolving as-a-service economy. Several...
Read Story
February 27, 2014, 07:20 AM
|
According to a recent poll by KPMG LLP, the U.S. audit, tax and advisory firm, middle-market executives anticipate a shift from opportunistic deals to corporate M&A, which will be driving activity in the 2014 credit markets.
"Over the last few years...
Read Story
February 26, 2014, 07:48 AM
|
Smaller U.S. banks with assets of less than $10 billion are stepping up M&A activity at a time when weak organic growth prospects and rising regulatory costs are driving a need for increasing scale, according to Fitch Ratings. Fitch believes that...
Read Story
February 24, 2014, 07:17 AM
|
Hitachi Business Finance and the newly-formed Hitachi Government Finance are now offering businesses more options to capital through the formation of a new government receivables division.
Located conveniently between Baltimore and Washington, D.C....
Read Story
February 21, 2014, 07:37 AM
|
Middle-market business leaders are taking cautious steps toward growth, according to results of KeyBank's monthly Middle Market Business Sentiment Survey.
Despite continuing concern about the economy's strength, there are more plans to add staff...
Read Story
February 21, 2014, 07:22 AM
|
Commercial borrowing by small and medium-sized businesses in Canada jumped in the final quarter of last year to hit a record high. The PayNet Canadian Business Lending Index (CBLI), which measures the volume of new commercial loans and leases to...
Read Story
February 20, 2014, 07:09 AM
|
BancAlliance announced that its network of over 150 member banks in 37 states originated a $32.5 million loan to a borrower referred to the network by one of its member banks. The referring member, West Gate Bank, retained control of its relationship...
Read Story
February 19, 2014, 07:32 AM
|
PNC Bank, N.A., a member of The PNC Financial Services Group, received approval from Canada’s Office of the Superintendent of Financial Institutions (OSFI) for a license to expand commercial banking services across Canada. Established as a Canadian...
Read Story
February 19, 2014, 07:06 AM
|
Pine Brook, a New York-based investment firm focused on building businesses in the financial services and energy sectors, today announced the final closing of its second fund, Pine Brook Capital Partners II, L.P. (“Fund II”). With total capital...
Read Story
February 18, 2014, 07:06 AM
|
According to the 2014 Bank of America Merrill Lynch CFO Outlook survey, U.S. businesses are putting growth plans in motion, bolstered by greater confidence in the economy and their own company performance.
Notable findings from the Outlook:
CFOs...
Read Story
February 14, 2014, 06:47 AM
|
CIT Group Inc. announced the pricing of a public offering of $1 billion aggregate principal amount of senior unsecured notes due 2019 (the “Notes”). The Notes priced at par and will bear interest at a per annum rate of 3.875%. The Notes will be...
Read Story
February 13, 2014, 07:02 AM
|
With a sense of stability returning to the economy and to corporate boardrooms, the RBS Citizens Middle Market M&A Outlook 2014 released today reveals that middle market companies remain open to buying or selling but are prioritizing opportunities to...
Read Story
February 12, 2014, 07:09 AM
|
H.I.G. Capital announced that it has successfully closed H.I.G. Middle Market LBO Fund II at its $1.75 billion cap. The fund will continue H.I.G. Capital’s successful investment strategy of focusing on private equity, buyout and equity-related...
Read Story
February 10, 2014, 08:07 AM
|
Huron Capital Partners LLC has formed a partnership with industry executive Phil Bomrad to build a platform company in the energy services industry. Through a holding company, Albireo Energy, Huron will invest in and partner with regional and niche...
Read Story
February 07, 2014, 07:31 AM
|
Critical sectors of the U.S. economy should see continued or renewed strength in 2014, according to business leaders at CIT Group.Bob Bielinski, Managing Director, CIT Corporate Finance, Retail and Restaurants; Matthew Galligan, President, CIT Real...
Read Story
February 06, 2014, 07:24 AM
|
From the fourth quarter Phoenix Management “Lending Climate in America” Survey, results show that lenders anticipate their borrowers making new capital investments, acquisitions and hiring. Additionally, expectations for loan losses, bankruptcies...
Read Story
January 28, 2014, 07:42 AM
|
The Securities and Exchange Commission charged public accounting firm KPMG with violating rules that require auditors to remain independent from the public companies they’re auditing to ensure they maintain their objectivity and impartiality. The SEC...
Read Story
January 27, 2014, 07:32 AM
|
The nation’s 200,000 middle market businesses are an economic engine driving the U.S. recovery, growing revenue at a rate of five percent during 2013, which was five times higher than the S&P 500. According to the National Center for the Middle...
Read Story
January 23, 2014, 07:42 AM
|
Heritage Global Partners (“HGP”) announced that it has been retained by M17, Inc. to manage an upcoming sale of all rights, patents, and technology of M17, Inc. and The Egg. The Egg is a world-class oval-shaped speaker system that combines a unique...
Read Story
January 22, 2014, 07:09 AM
|
CFO reports private companies that adhere to U.S. generally accepted accounting principles (GAAP) will soon have more options when it comes to accounting for goodwill and for interest rate swaps. On Thursday Jan. 16, the Financial Accounting...
Read Story
January 21, 2014, 07:12 AM
|
Venture capitalists invested $29.4 billion in 3,995 deals in 2013, an increase of 7 percent in dollars and a 4 percent increase in deals over the prior year, according to the MoneyTree Report by PricewaterhouseCoopers LLP and the National Venture...
Read Story
January 20, 2014, 07:26 AM
|
Pluris Valuation Advisors, LLC, a full-service national valuation firm, announced the creation of the Real Estate Appraisal Group.The new group, which will be based in Pluris’ office in Newport Beach, CA, will be headed by Vice President Steven D....
Read Story
January 17, 2014, 07:04 AM
|
Wells Fargo expanding its Silicon Valley-based Technology Banking Division coast-to-coast. After opening new offices in Boston and Seattle in 2013, the division is planning to expand to New York this year.
“The rapidly expanding technology sector...
Read Story
January 16, 2014, 07:41 AM
|
SOLIC Capital, together with each of its affiliates, “SOLIC,” an integrated principal investing, distressed asset management, and financial advisory firm, today announced the completion of its platform with the transition of Navigant Capital...
Read Story
January 16, 2014, 07:12 AM
|
Dealstruck, Inc. announced the launch of its asset-based line of credit product (ABL) to provide flexible working capital to growing small businesses. This makes Dealstruck the first crowdlending platform to offer businesses and investors the...
Read Story
January 13, 2014, 07:29 AM
|
CAN Capital announced $33 million in funding led by Meritech Capital Partners (Meritech) with increased participation and ownership from existing investor Accel Partners (Accel). Meritech and Accel were joined in the funding round by Ribbit Capital...
Read Story
January 10, 2014, 07:21 AM
|
Monroe Capital announced the closing of Monroe Capital Senior Secured Direct Loan Fund LP, a $500 million leveraged loan fund that will invest in senior debt transactions originated and underwritten by Monroe Capital LLC. The fund was successfully...
Read Story
January 08, 2014, 07:56 AM
|
AloStar Business Credit won Debt Financing Deal of the year for the financing of Cotton Holdings at the 2013 M&A Advisor Awards held Tuesday, December 17th at the New York Athletic Club, New York, NY. The event was hosted by New York Financial Press...
Read Story
January 03, 2014, 08:02 AM
|
Victory Park Capital (VPC), announced that former U.S. Sen. Joseph I. Lieberman has joined as chairman of the firm's Executive Board. The former Connecticut senator, who served four terms, was the Democratic candidate for U.S. vice president in 2000....
Read Story
January 03, 2014, 07:55 AM
|
The staff of ABL Advisor wishes our readers and their families the happiest of holiday seasons.
In observance of Christmas, our offices will be closed on Wednesday,December 25 and Thursday, December 26. We will return on Friday, December 27 to...
Read Story
December 24, 2013, 07:07 AM
|
Hilco Global announced the appointment of five new members to its Retail Board of Advisors. These leaders bring significant experience from across all sectors of the retail industry as retail executives, investment bankers, financial advisors...
Read Story
December 12, 2013, 07:37 AM
|
PNC Riverarch Capital announced an equity recapitalization of Custom Molded Products, LLC (CMP), a leading manufacturer and distributor of injection molded plastic components used in spas, pools, and whirlpool baths. The investment was led by PNC...
Read Story
December 10, 2013, 07:14 AM
|
Hilco Merchant Resources, a unit of Hilco Global, announced that it has completed a $40 million deal to purchase all the assets of the venerable golf retail brand Edwin Watts, in partnership with GWNE, Inc., an affiliate of Worldwide Golf Shops. The...
Read Story
December 06, 2013, 07:18 AM
|
Garrison Investment Group, along with minority partners Solel Investment Group LLC and The Leo Group, LLC, have announced the execution a joint venture agreement with Fundation, Inc., a New York City-based small balance commercial loan (SBCL)...
Read Story
December 05, 2013, 07:53 AM
|
A new survey conducted by Balboa Capital reveals that 95% of business owners in the United States will need additional working capital for their companies during the next 12 months. Balboa Capital sent its online survey to more than 300,000 business...
Read Story
November 25, 2013, 07:12 AM
|
The Senior Secured Loan Program (SSLP), jointly managed by an affiliate of Ares Capital Corporation and an affiliate of GE Capital, announced that its total available capital has increased from $9 billion to $11 billion. In connection with this...
Read Story
November 22, 2013, 07:38 AM
|
SSG Capital Advisors, LLC ("SSG") acted as the investment banker to CastleRock Security Holdings, Inc. and its subsidiary in the sale of its security alarm portfolio to Security Alarm Financing Enterprises, L.P. ("SAFE Security"). The sale closed in...
Read Story
November 22, 2013, 07:25 AM
|
THL Credit Advisors LLC announced that it has closed on a $447 million collateralized loan obligation ("CLO") led by Deutsche Bank Securities Inc. THL Credit has now closed on $1.43 billion of CLOs since December 2012."We are delighted with the...
Read Story
November 20, 2013, 07:17 AM
|
Fitch Ratings reports that increasingly, lenders to middle-market firms, also known as business development companies (BDCs), are turning to venture lending for additional investment opportunities and enhanced yields, as declining yields on...
Read Story
November 19, 2013, 07:18 AM
|
According to a regulatory filing, General Electric Company (GE) announced that it intends to pursue an initial public offering (IPO) of its North American Retail Finance business (Retail Finance) as a first step in a staged exit from that business....
Read Story
November 18, 2013, 08:03 AM
|
Deloitte Corporate Finance LLC ("DCF") is acting as financial advisor to Wyoming-based Elkhorn Holdings, Inc. ("Elkhorn"), a leading employee-owned, turnkey provider of infrastructure construction and maintenance services to high-growth U.S. energy...
Read Story
November 12, 2013, 07:48 AM
|
Babson Capital Management, a global investment management firm with more than $188 billion in assets under management and operations on four continents, announced that it provided subordinated debt and made an equity co-investment to support High...
Read Story
November 04, 2013, 07:36 AM
|
Aurora Capital Group, a Los Angeles-based private equity firm with over $2 billion of assets under management, announced the closing of its second resurgence fund, Aurora Resurgence Fund II LP ("Resurgence Fund II"), at $550 million in capital...
Read Story
October 24, 2013, 07:11 AM
|
TD Bank announced that its Asset Based Lending (ABL) Group closed 16 transactions totaling nearly $600 million in commitments through the first half of 2013, signaling an improving deal environment and increased demand for TD’s range of financing...
Read Story
October 18, 2013, 07:29 AM
|
Toronto-based Bridging Finance Inc. announced the launch of Bridging Credit Fund LP (the "Fund"). The Fund will give Canadian investors access to a highly specialized asset class with a focus on aiming to deliver predictable yield over the long...
Read Story
October 17, 2013, 07:19 AM
|
On October 11, 2013, Tower Group International, Ltd. and Tower Group, Inc., entered into a Fifth Amendment Agreement to the Amended and Restated Credit Facility Agreement, dated as of February 15, 2012, as amended by the First Amendment to Credit...
Read Story
October 15, 2013, 07:05 AM
|
Victory Park Capital, an asset-management firm focused on debt and equity investments in the lower middle market, announced the sale of its portfolio company, Ascent Aviation Services Corp (“Ascent” or the “Company”), to LongueVue Capital Partners II...
Read Story
October 14, 2013, 07:52 AM
|
After years of focus on cost reductions and operational efficiencies, executives and producers in the food and beverage industry are feeling confident again, according to the 2013 Grant Thornton Global Food and Beverage study “Hunger for...
Read Story
October 11, 2013, 07:09 AM
|
Capital One Bank announced a name change for its asset-based and senior bank lending businesses from Capital One Leverage Finance to Capital One Business Credit Corp to more accurately reflect the group’s specialized financial product offerings. The...
Read Story
October 08, 2013, 08:03 AM
|
Morgan Joseph TriArtisan LLC (“MJTA”) and Karis Capital Partners LLC (“KCP”) today announced that KCP, a boutique placement agent providing advisory and capital raising services for alternative asset managers, has affiliated with MJTA, the merchant...
Read Story
October 02, 2013, 07:20 AM
|
Fifth Street Finance Corp. closed a public offering of 17,643,000 shares of its common stock, including 2,143,000 shares sold pursuant to the underwriters' option to purchase additional shares, at a public offering price of $10.31 per share for total...
Read Story
September 27, 2013, 07:26 AM
|
American Capital, Ltd. announced an affiliate, ACAS CLO 2013-2, Ltd. (the "CLO"), has closed on the sale of $414 million of collateralized loan obligation bonds. The transaction was arranged by Citibank, N.A. The CLO is externally managed by...
Read Story
September 26, 2013, 07:21 AM
|
THL Credit Advisors LLC, the external investment manager of publicly-listed business development company THL Credit, Inc., announced that THL Credit Senior Loan Fund (the "Fund"), a closed-end fund, has priced its initial public offering of 6.6...
Read Story
September 24, 2013, 07:08 AM
|
Salus Capital Partners LLC announced the closing of an additional $300 million note issuance by Salus CLO 2012-1, Ltd. (the “CLO”), bringing the aggregate amount of notes issued by the CLO to $550 million. The original CLO closed in February 2013...
Read Story
September 23, 2013, 07:52 AM
|
According to the financial press, New York Life suspended Madison Capital’s chief executive, Trevor J. Clark, and another one of its senior executives, Christopher G. Williams, over violations in company policies, citing information obtained from two...
Read Story
September 23, 2013, 07:41 AM
|
Bloomberg reported that NewStar Financial Inc., the business lender backed by private-equity firms Corsair Capital LLC and Capital Z Partners Management LLC, is exploring a sale. This is according to people with knowledge of the matter.
NewStar is...
Read Story
September 20, 2013, 08:03 AM
|
Healthcare services executives are looking at acquisitions to enable growth over the next 12 months, according to a survey released today by GE Capital, Healthcare Financial Services. Seventy-two percent of respondents expect their business...
Read Story
September 19, 2013, 07:39 AM
|
Fifth Street Senior Floating Rate Corp. announced that it has closed an additional $33 million of floating rate senior secured debt investments, increasing its total originations in the current quarter to $59 million, $51 million of which was funded...
Read Story
September 18, 2013, 07:19 AM
|
The near-term fiscal challenges facing states and municipalities present a distinct risk, Fitch Ratings says.In the five years after the Great Recession, most states and municipalities have seen pronounced drops in revenue followed by a slow growth...
Read Story
September 16, 2013, 07:30 AM
|
NewStar Financial completed a $400 million term debt securitization known as NewStar Commercial Loan Funding 2013-1. All classes of notes were priced at par and the transaction was upsized from $350 million, reflecting broad participation among...
Read Story
September 13, 2013, 07:19 AM
|
A majority of small- and medium-sized businesses (85%) say they have the resources they need to expand their exporting operations, according to a survey by Bibby Financial Services."It has taken some time for President Obama's National Export...
Read Story
September 13, 2013, 07:11 AM
|
Phoenix Management Services acted as the exclusive financial advisor to Final Word Investments, LLC (Final Word), the family holding company of Budd Goldman (Founder, Chairman and CEO of Ellery Homestyles) in connection with its partnership with...
Read Story
September 11, 2013, 07:46 AM
|
Capital Business Credit LLC, a globally integrated financial products and services company, announced the opening of its Dallas, TX office.Dan Maner, senior vice president, who formerly led business development efforts in CBC's North Carolina office...
Read Story
September 10, 2013, 07:54 AM
|
JPMorgan Chase & Co. announced that its Board of Directors intends to elect Linda B. Bammann and Michael A. Neal as directors of the company. Bammann is expected to be elected on September 16, while Neal is expected to join the Board in January 2014...
Read Story
September 10, 2013, 07:43 AM
|
Bloomberg reports PNC Financial Services Group, the second-largest U.S. regional bank, is winding down Market Street Funding LLC, a commercial-paper company it administers.Market Street had $5.9 billion of the short-term debt outstanding as of June...
Read Story
September 09, 2013, 07:09 AM
|
Air Canada announced that it intends to refinance approximately C$1.1 billion principal amount of its outstanding senior notes and, as part of the refinancing, has launched cash tender offers for any and all of its 9.250% Senior Secured Notes due...
Read Story
September 06, 2013, 07:14 AM
|
CFO.com reports chief financial officers are far more involved in their employers’ health-care strategies than they were before the Affordable Care Act (ACA) was signed into law in 2010, new research indicates.
In a Towers Watson survey of benefits...
Read Story
August 29, 2013, 07:13 AM
|
American Capital, Ltd. has amended its $600 million senior secured term loan credit facility (which had $450 million in loans outstanding as of the closing date following a recent scheduled amortization payment). JP Morgan Securities, LLC and BMO...
Read Story
August 26, 2013, 07:35 AM
|
Increased exposure to floating-rate investments and generally heavy use of fixed rate funding has positioned U.S. business development companies (BDCs) well to adjust to the rising rate environment longer term, according to Fitch Ratings. However...
Read Story
August 16, 2013, 07:26 AM
|
Gordon Brothers Europe has expanded with the opening of a new office in Birmingham that extends the reach of the valuation and corporate recovery group. Gordon Brothers initiated the group in November 2012 and officially launched in May 2013. The...
Read Story
August 16, 2013, 07:13 AM
|
In an effort to strengthen and further leverage its services and product offerings in the traditional factoring arena, Crestmark announced that it has created a new division called Crestmark Trade Services. In merging its Florida and New York City...
Read Story
August 14, 2013, 08:03 AM
|
Fifth Street Senior Floating Rate Corp. announced that it has closed four separate senior secured debt investments totaling $26 million, $24 million of which was funded at close. FSFR financed the transactions with a portion of the net proceeds...
Read Story
August 09, 2013, 07:50 AM
|
Siena Lending Group and its affiliates announced the completion of a revolving credit facility with Wells Fargo Capital Finance. Siena will use this credit facility to expand its balance sheet and continue funding small and medium sized businesses...
Read Story
August 08, 2013, 07:37 AM
|
AlixPartners, the global business advisory firm, confirmed it has been retained by Standard Register, headquartered in Dayton, OH, to perform integration support in Standard Register's acquisition of WorkflowOne, LLC.This work, which has already...
Read Story
August 05, 2013, 07:14 AM
|
Bloomberg reports J.C. Penney denied a report that CIT Group has stopped funding some of its suppliers.
Shares tumbled when The New York Post reported that CIT ceased supporting deliveries from small manufacturers to its stores. The newspaper didn’t...
Read Story
August 01, 2013, 07:53 AM
|
NXT Capital, LLC announced the closing of NXT Capital Senior Loan Fund II, L.P., a $783 million leveraged loan fund that will invest in senior debt transactions originated and underwritten by NXT Capital’s Corporate Finance Group. These include...
Read Story
|
ABL Advisor is pleased to announce the newest expansion of its innovative online publishing platform with the launch of ABL Advisor Weekly Deal Blast – a weekly synopsis of asset-based and other secured commercial transaction activity delivered via...
Read Story
|
First Capital announced that Chris Gouskos has been promoted Texas business development manager. In his new role, Gouskos will be responsible for business development activities throughout the state of Texas as well as establishing a regional market...
Read Story
|
HSBC Bank USA announced a $1 billion, 18-month dedicated loan program for small and medium size U.S. businesses looking to export or expand internationally, to help companies find global growth opportunities and to further accelerate global business...
Read Story
|
Importers and manufacturers who sell to America's major retailers are seeing growth in sales for both the summer and back-to-school seasons, according to Capital Business Credit (CBC), a non-bank lender that services the retail...
Read Story
|
Economic optimism is improving in the U.S.; however, there will not be big changes in US deal volume for the remainder of 2013, according to EY Transaction Advisory Services.
"There is a significant, on-going element of uncertainty, preventing the...
Read Story
|
Jeffrey B. Hecktman, Chairman and CEO of Hilco Trading announced the rebranding of the privately-held, international financial services holding company. Effective immediately, Hilco Trading, LLC will be doing business as Hilco Global.
The...
Read Story
|
The second quarter Phoenix Management “Lending Climate in America” Survey, results show more lenders anticipate spreads to decrease.Fifty-eight percent of respondents (versus sixty-five percent in the previous quarter) anticipate maintaining lending...
Read Story
|
To better meet the global needs of its clients, Wells Fargo Capital Finance, part of Wells Fargo & Company, has formed a Commercial Services Division to provide factoring and accounts receivable financing products and services for U.S. and...
Read Story
|
Rite Aid Corporation announced the completion of a portion of its previously announced debt refinancing transactions that extends the maturity on a portion of Rite Aid’s outstanding indebtedness and lowers interest expense. The completed refinancing...
Read Story
|
Highbridge Principal Strategies (HPS), a global credit and private investment firm, announced the final closing of HPS Specialty Loan Fund III (the Fund) with total capital of over $3 billion. The Fund will invest primarily in newly issued, secured...
Read Story
|
Bloomberg reported that John Thain, chief executive officer of CIT Group, discussed the outlook for the company and the U.S. financial industry while speaking on Bloomberg Television's "Market Makers".According to the Bloomberg report, Thain declined...
Read Story
|
Chairman and CEO Jeff Immelt announced the appointment of Keith Sherin as chairman and CEO of GE Capital, succeeding Mike Neal, who is retiring. Immelt also announced that GE Capital CFO Jeff Bornstein will succeed Sherin as CFO of GE. The...
Read Story
|
The ongoing increase in leverage finance issuance and other related factors do not indicate that a return to the leveraged buyout (LBO) boom days of 2006-07 is likely, according to a new Fitch Ratings report.Fitch's report, 'U.S. Leveraged Finance...
Read Story
|
Reuters reported regulators on Monday proposed designating GE Capital, American International Group Inc, and Prudential Financial for heightened regulatory oversight.
According to the report, the Financial Stability Oversight Council said it had...
Read Story
|
Hilco Industrial Limited and CBI B.V. announced a joint venture agreement under which the two companies will collaborate on industrial asset disposition projects throughout Europe. Terms of the joint venture were not disclosed.
Daniel Gray...
Read Story
|
CIT Group, a leading provider of financing and advisory services to small businesses and middle market companies, announced that it received notice from the Federal Reserve Bank of New York (the FRBNY) that the Written Agreement, dated August 12...
Read Story
|
Bloomberg Businessweek said that according to a Wall Street Journal report, General Electric is evaluating successors to Michael Neal, who may step down as chief executive officer and chairman of GE Capital as soon as this summer.The management shift...
Read Story
|
Morgan Joseph TriArtisan LLC’s newly issued Recapitalization & Restructuring Report says that across most sectors of the debt capital markets, inflows and issuance volumes are approaching, or have exceeded, pre-crisis highs. It points out:
CLO...
Read Story
|
Bloomberg reported General Electric is considering spinning off parts of its finance unit through an initial public offering.According to Bloomberg, while speaking at the Electrical Products Group Conference in Longboat Floriday yesterday, Immelt...
Read Story
|
Tighter risk spreads and continuing signs of over-heating in debt markets have led some U.S. business development companies (BDCs) to look for new growth opportunities. Several BDCs, which are largely cash flow lenders to middle-market companies...
Read Story
|
Solis Capital Partners, a lower middle-market private equity firm, today announced the closing of its second fund, Solis II, at $61 million in capital commitments."We are pleased with the success of Solis II, especially in this challenging...
Read Story
|
Siena Lending Group LLC announced its formal launch and the completion of its developmental phase. Siena's creation, engineered by operating financier Michael Carrazza, is the latest portfolio company sponsored by Solaia Capital, a private investment...
Read Story
|
Hilco Streambank, an advisory firm specializing in the valuation and marketing of brands, trademarks and other intangible assets, said today that it has been engaged by multiple sellers to auction trademarks, domains and other intellectual property...
Read Story
|
The U.S. restaurant industry is beginning to sizzle, according to the 23rd edition of the Chain Restaurant Industry Review, which was released today at the Restaurant Leadership Conference by GE Capital, Franchise Finance (GEFF). Merger and...
Read Story
|
First Capital, a specialized commercial finance company, announced it closed its largest secured funding facility to date with the issuance of $283 million in floating rate secured notes in its third term securitization.
The debt includes a senior...
Read Story
|
American Capital announced that in the first quarter of 2013, its Sponsor Finance Group invested over $59 million, in support of leading private equity firms.
"During the first quarter of 2013, we invested in three global middle market companies. ...
Read Story
|
THL Credit Senior Loan Strategies (THL Credit SLS) announced that it has closed on a $467 million collateralized loan obligation (CLO) led by Citi. THL Credit SLS is a subsidiary of THL Credit Advisors LLC, which is the external investment manager of...
Read Story
|
Houlihan Lokey, the international investment bank, today announced a reorganization of its senior management ranks. Co-CEO Scott Beiser will continue as CEO, as Jeff Werbalowsky, his partner in the role for the last ten years, will join Robert Hotz...
Read Story
|
CFO.com reports that amid plunging sales and negative free cash flow, J.C. Penney taps its line of credit to finance inventory and operating expenses.
Retailing giant J.C. Penney company announced on Apr.15, it had tapped a portion of its $1.85...
Read Story
|
Wells Fargo Capital Finance announced the expansion of its Technology Finance lending capabilities in the United Kingdom. Steven Osborne, previously an underwriter with Burdale Financial Limited, also part of Wells Fargo Capital Finance, will lead...
Read Story
|
Ridgemont Equity Partners announced the final closing of Ridgemont Equity Partners I, L.P. ("REP I"), with total commitments of $735 million. The firm's first independent fundraising was successfully completed at the end of March with excess demand....
Read Story
|
Strong capital market conditions continue to support a pickup in unsecured debt issuance by U.S. business development companies (BDCs), primarily middle-market lenders, and this has enhanced funding flexibility for these firms, according to...
Read Story
|
From the first quarter Phoenix Management “Lending Climate in America” Survey, results show that lenders have shifted lending expectations from negative to positive.
When asked about domestic lending, 48% of lenders feel that it will increase in the...
Read Story
|
NewStar Financial announced that it has formed a new managed credit fund, NewStar Arlington Fund LLC (the "Fund" or "Arlington"), in partnership with an institutional investor to co-invest in middle market commercial loans originated by NewStar. The...
Read Story
|
Ryerson Inc. announced that it has amended its Asset Backed Lending (ABL) credit facility."We took advantage of favorable market conditions amidst the ongoing positive results generated by Ryerson's strategic transformation to amend the ABL, lowering...
Read Story
|
Medley Capital Corporation amended its senior secured revolving and term loan credit facilities to increase the credit facility’s accordion feature from $300 million to $400 million of total commitments. In addition, the company closed an additional...
Read Story
|
American Capital announced that an affiliate, ACAS CLO 2013-1, Ltd. (the "CLO"), has closed on the sale of $414 million of collateralized loan obligation bonds. The transaction was arranged by Deutsche Bank Securities Inc. The CLO is externally...
Read Story
|
Main Street Capital Corporation has priced a public offering of $80.0 million in aggregate principal amount of 6.125% senior unsecured notes due 2023. The notes will mature on April 1, 2023, and may be redeemed in whole or in part at any time or from...
Read Story
|
Bloomberg reports Cerberus Capital Management LP, the private-equity firm led by Stephen Feinberg, has raised $1.32 billion for a middle-market loan fund that will seek to take advantage of a pullback in lending.
One of Cerberus Levered Loan...
Read Story
|
Bloomberg reported that General Electric distanced itself from a report that it might consider spinning off GE Capital. As reported yesterday by Dow Jones, Chief Executive Officer Jeffrey Immelt told business leaders in Sydney that he’d “never say...
Read Story
|
On an item posted to the Fox Business news website, The Wall Street Journal reported that General Electric Co. (GE) Chairman and Chief Executive Jeff Immelt said Tuesday that the company may consider spinning off GE Capital to simplify its structure...
Read Story
|
Golub Capital BDC, a business development company, today announced that its wholly owned subsidiary, Golub Capital BDC Funding LLC, decreased the size of its senior secured revolving credit facility with Wells Fargo Bank, N.A. from $150 million to...
Read Story
|
Reuters reports Highbridge Capital Management, a hedge fund manager owned by JPMorgan Chase & Co., has raised a $5 billion mezzanine debt fund as the latest alternative asset firm seeking to seize on corporate credit opportunities.
Dave Millar, a...
Read Story
|
According to Bloomberg, Jefferies Finance plans to raise $500 million with a sale of seven-year notes.
Jefferies Finance intends to issue the senior securities for general corporate purposes, according to a person familiar with the offering....
Read Story
|
Total leverage finance and high yield issuance have hit record levels, but overall outstandings have hardly budged as the principal drivers of supply have been repricings and recapitalizations, according to the latest report of Morgan Joseph...
Read Story
|
Lending giant Hitachi Capital has set up a 25 million GBP fund to provide asset-based loans to micro firms and sole traders.
Hitachi will offer loans of 2,500 GBP to 15,000 GBP to sole traders, including plumbers, builders, and independent cafes and...
Read Story
|
Triumph Bancorp, Inc. announced today the launch of Triumph Capital Advisors, a credit-focused investment management firm with an emphasis on investing in senior secured bank loans. The initial strategy for growth will focus on collateralized loan...
Read Story
|
ABL Advisor is pleased to announce that based upon overwhelming reader response, the ABL Advisor Deal Tables, available exclusively on the ABL Advisor website, are now fully accessible and featured on the ABL Advisor Daily eNews Blast – emailed daily...
Read Story
|
Kayne Anderson Capital Advisors’ Middle Market Credit Platform announced the successful raising of $350 million in capital for its senior loan lending effort, Kayne Senior Credit Fund, L.P. (KSCF). KSCF provides senior secured credit solutions to...
Read Story
|
Bloomberg reports that Tribune Co. (TRBAA), the publisher that emerged from bankruptcy at the end of last year, said it hired JPMorgan Chase & Co. (JPM) and Evercore Partners Inc. (EVR) as financial advisers after receiving unsolicited interest in...
Read Story
February 27, 2013, 07:11 AM
|
United Capital Funding, a provider of professional Accounts Receivable based funding and credit management solutions, finalized a renewal of its current financing facility with Memphis, TN-based First Tennessee Bank, a subsidiary of First Horizon...
Read Story
February 25, 2013, 08:11 AM
|
Rite Aid Corporation announced the completion of its previously announced debt refinancing transactions that extend the maturity of a portion of its outstanding indebtedness and lower interest expense. The refinancing transactions included:
The...
Read Story
February 22, 2013, 08:03 AM
|
Revlon, Inc. announced its operating subsidiary, Revlon Consumer Products Corporation (RCPC) successfully consummated an amendment to its Third Amended and Restated Term Loan Agreement, dated as of May 19, 2011, among RCPC, as borrower, a syndicate...
Read Story
February 22, 2013, 07:09 AM
|
Traditional risk heat maps focus only on the downside of risk. But CFOs and CROs need to be able to visualize the opportunities for creating value that exist by taking risks.
Over the last ten years, many companies have adopted an enterprise risk...
Read Story
February 15, 2013, 07:14 AM
|
Reuters reported that CIT Group had preliminary talks over the past year and a half to sell itself to banks, including Toronto-Dominion Bank and Wells Fargo & Co, but nothing came of the conversations, according to three people familiar with the...
Read Story
February 11, 2013, 07:52 AM
|
Rite Aid Corporation provided an update on its previously announced debt refinancing transactions that would extend the maturity of a portion of its outstanding indebtedness and lower interest expense. The refinancing transactions are now expected to...
Read Story
February 08, 2013, 07:27 AM
|
Monroe Capital announced that Theodore L. Koenig, president and chief executive officer, was named the 2012 Middle Market Thought Leader of the Year by The Alliance of Mergers & Acquisition Advisors (AM&AA) and Grant Thornton LLP. The Middle Market...
Read Story
January 31, 2013, 08:00 AM
|
The Senior Secured Loan Program (SSLP), jointly managed by an affiliate of Ares Capital Corporation and an affiliate of GE Capital, announced that its total available capital has increased from $7.7 billion to $9.0 billion. In connection with this...
Read Story
January 31, 2013, 07:57 AM
|
Crestmark announced it has expanded its services to include equipment financing. A company press release notes the move emphasizes Crestmark’s significant effort and continued focus to provide superior service to itsr customers. The opportunity...
Read Story
January 31, 2013, 07:23 AM
|
The Winter Trucking Report released from TAB Bank is showing signs of a slow and steady economic recovery according to monthly truck tonnage, fuel costs, perceived business conditions, and invoice size. Historically, trends in trucking and...
Read Story
January 31, 2013, 06:59 AM
|
CFO reports U.S. finance executives forecast that their organizations’ cash balances will fall this quarter, the Association for Financial Professionals reports reversing a two-year trend.
For only the second time in more than two years, the...
Read Story
January 30, 2013, 07:12 AM
|
School Specialty entered into an asset purchase agreement with an affiliate of Bayside Capital, Inc., under which School Specialty proposes to sell its assets as a going concern through a court-supervised sale process. To facilitate the sale...
Read Story
January 28, 2013, 07:39 AM
|
Chiquita Brands International announced that it proposes to offer $425 million aggregate principal amount of senior secured notes due 2021 in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933...
Read Story
January 28, 2013, 07:17 AM
|
Following a recent meeting of the Board of Directors of Renasant Bank, E. Robinson McGraw, chairman and chief executive officer, announced that Mike Knuckles has joined Renasant Bank as executive vice president and division manager to lead its newly...
Read Story
January 25, 2013, 08:02 AM
|
CFO writer David Katz offers an opinion piece on what he sees as the top corporate finance trends likely to play out in 2013. At the top of the list, Katz cites pressure on CFOs to unlock corporate cash hordes.
One night last week, at a minute after...
Read Story
January 25, 2013, 07:22 AM
|
The National Center for the Middle Market (NCMM) today announced that the U.S. middle market added an estimated $650 billion in new revenue and more than 1 million jobs in 2012 based on findings in the NCMM’s 2012 fourth-quarter Middle Market...
Read Story
January 23, 2013, 08:00 AM
|
Great American Group, Inc., a provider of asset disposition and auction solutions, advisory and valuation services, capital investment, and real estate advisory services, announced a strategic partnership with CA Global Partners, Inc.
The...
Read Story
January 23, 2013, 07:06 AM
|
In a move designed to broaden their scope of services to clients in consumer product manufacturing and retailing, and a wide range of other industries, business strategies/restructuring consultants Clear Thinking Group and mergers and acquisitions...
Read Story
January 15, 2013, 12:25 PM
|
Cole Haan, a designer and retailer of premium footwear, is seeking a $270 million term loan B backing its buyout by Apax Partner, according to a person with knowledge of the transaction.
Jefferies Group is arranging the financing which will also...
Read Story
January 09, 2013, 07:05 AM
|
BHP Markets announced the formation of BHP Finance Inc., an alternative finance company. BHP Finance will focus on providing cash flow funding solutions to small and medium sized businesses in North America and Asia through various specialized...
Read Story
January 08, 2013, 07:07 AM
|
Loan refinancing activity and robust high-yield bond issuance extended or diminished $370 billion of loans within the refinancing cliff timeframe during the first three quarters of 2012. Despite the significant process made in 2012, the market still...
Read Story
January 07, 2013, 07:11 AM
|
THL Credit Senior Loan Strategies, a subsidiary of THL Credit Advisors LLC , which is the external investment manager of publicly listed business development company THL Credit, Inc., closed on a $513.6 million collateralized loan obligation led by...
Read Story
January 03, 2013, 07:25 AM
|
The Thomson Reuters/PayNet Small Business Lending Index (SBLI), which has proven to be a leading indicator of the GDP between 2-5 months, takes the pulse of the U.S. Small Business economy. The SBLI for November stands at 108.3, which is essentially...
Read Story
January 02, 2013, 07:08 AM
|
A Bloomberg article notes global mergers and acquisitions rose to the highest level in four years this quarter, as a surge in U.S. deals provided ground for optimism and salvaged what had been the worst year for takeovers since the financial...
Read Story
December 27, 2012, 07:29 AM
|
Ninety-six percent of 1,000 middle market business leaders questioned in a recent survey say they have strong preferences for the outcome of the ongoing fiscal cliff negotiations. The survey, released by the National Center for the Middle Market, was...
Read Story
December 24, 2012, 07:19 AM
|
CapitalSource announced that its founder, John K. Delaney, has resigned as chairman and a member of the Company's Board of Directors and as a member of the CapitalSource Bank Board of Directors, effective immediately, as he completes preparations to...
Read Story
December 21, 2012, 07:26 AM
|
NewStar Financial completed a $325 million term debt securitization known as NewStar Commercial Loan Funding 2012-2. All classes of notes were priced at par and the transaction was upsized from $300 million, reflecting broad participation among...
Read Story
December 19, 2012, 07:23 AM
|
Solar Capital announced it has entered into a definitive agreement with SSP Energy Ltd., Quartz Managers LLC and Quantum Strategic Partners Ltd. to acquire Crystal Capital Financial, a commercial finance company focused on providing asset-based and...
Read Story
December 18, 2012, 08:00 AM
|
Golub Capital BDC, a business development company, today announced that its wholly owned subsidiary, Golub Capital BDC Funding LLC, increased the size of its senior, secured revolving credit facility with Wells Fargo Bank from $75 million to $150...
Read Story
December 18, 2012, 07:05 AM
|
Continuing its double-digit growth in jobs and new business at its regional hub, Wells Fargo said it is hiring more financial services industry veterans in Illinois to keep pace with increasing demand in Chicago, the state and throughout the...
Read Story
December 07, 2012, 07:40 AM
|
First Capital announced it renewed and extended the maturity to June 2015 on its $125 million senior secured credit facility with DZ BANK. The successful financing was an early extension and demonstrates the support for First Capital by its bank...
Read Story
December 05, 2012, 07:26 AM
|
Citing data from Thomson Reuters LPC, CFO magazine reports revolving lines of credit are on a pace to drop in 2012, as macroeconomic and regulatory concerns have dampened the market for new issuance and companies have found other sources of funding....
Read Story
November 29, 2012, 08:18 AM
|
A report from GE finds that the combination of networks and machines could add $10- to $15 trillion to the global GDP.
According to the report, the Industrial Revolution radically changed the way we use energy and make things. The Internet...
Read Story
November 26, 2012, 07:31 AM
|
U.S. covenant-lite loans have made a significant comeback in the leveraged finance market reflecting investor willingness to take on more risk in exchange for higher yields, according to a report by Fitch Ratings.
Year-to-date, covenant-lite loan...
Read Story
November 26, 2012, 07:01 AM
|
ABL Advisor announces the launch of its innovative online publishing platform at the Commercial Finance Association’s annual convention in Phoenix, AZ. This platform includes a search engine optimized and social media enriched website, daily enews...
Read Story
November 15, 2012, 08:10 AM
|
FTI Consulting announced that it is in discussions with its existing lenders, and possibly new lenders with respect to a proposed new five-year revolving credit facility in the aggregate amount of $350 million, with an accordion feature that would...
Read Story
November 09, 2012, 07:08 AM
|
Global alternative asset manager The Carlyle Group raised $1.1 billion for U.S. middle market buyout investments. Carlyle Equity Opportunity Fund (CEOF) targets control investments in middle-market companies requiring equity capital of $25 million to...
Read Story
November 08, 2012, 08:04 AM
|
NewStar Financial amended its existing credit facility with Wells Fargo to increase its size by $25 million to $175 million and extend its reinvestment period and final maturity by three years among other things. The credit facility will be used to...
Read Story
November 06, 2012, 07:44 AM
|
Monroe Capital Corporation announced the closing of its initial public offering of 5 million shares of its common stock at a public offering price of $15.00 per share, raising approximately $75 million in gross proceeds.Theodore L. Koenig, president...
Read Story
October 31, 2012, 08:05 AM
|
Cole Taylor Business Capital (CTBC), a division of Cole Taylor Bank, announced that it has surpassed $1 billion in loan commitments. CTBC was launched in 2008 under the leadership of Michael D. Sharkey, who headed up LaSalle Bank’s asset based...
Read Story
October 25, 2012, 07:08 AM
|
J.H. Cohn LLP and Reznick Group, P.C., two of the top-20 accounting and consulting firms in the U.S., announced the completion of their combination, forming CohnReznick LLP. CohnReznick is now the 11th largest firm in the country with 25 offices...
Read Story
October 15, 2012, 07:00 AM
|
New York Business Journal reported that Goldman Sachs helped Capital Access Network Inc. close on a $1 billion round of financing that will target small businesses. According to the report, New York City-based Capital Access said the investment bank...
Read Story
September 28, 2012, 08:00 AM
|
The Great Recession caused a shift in the way middle market companies think about funding. In CIT’s “U.S. Capital Markets Outlook,” Neil Wessan, Managing Director and Group Head of CIT Capital Markets, explains why finding the cheapest cost of funds...
Read Story
September 13, 2012, 07:00 AM
|