Wells Fargo announced that Jon Weiss, Co-CEO of Corporate & Investment Banking (CIB), has informed the company of his intention to retire. Weiss, who has been with Wells Fargo for nearly 20 years, will step down as Co-CEO effective immediately and will formally retire on June 1, 2025. Fernando Rivas, who joined Wells Fargo in May 2024 as Co-CEO of CIB, will become CIB’s sole CEO.“Jon has a long and distinguished track record of success in financial services, and he has made a lasting impact on
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January 31, 2025 @ 08:17 AM
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ID.me, a market leading digital identity wallet, closed a $275 million credit facility provided by Ares Management funds ("Ares"). Ares also plans to make a substantial equity investment in ID.me. Proceeds will fuel ID.me's continued acceleration, as ID.me is revolutionizing the way Americans securely prove their identity online, expanding digital access while protecting privacy and preventing fraud.This financing comes amid significant business momentum, as ID.me has signed up over 139 million
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January 31, 2025 @ 08:15 AM
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Runway Growth Capital and BC Partners Credit announced that they, along with Mount Logan Capital, a Canadian alternative asset management company internally managed by employees of BC Partners Credit, closed a transaction whereby private investment funds advised by BC Partners Credit, and Mount Logan Capital pursuant to its minority investment, have acquired Runway Growth Capital LLC.Runway will continue to serve as the investment adviser to private investment funds and to Runway Growth Finance
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January 31, 2025 @ 08:10 AM
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Boldyn Networks US successfully completed its approximately $1.2 billion debt financing, consisting of Senior Secured Credit Facilities and Fixed Rate Notes, to accelerate its capital investment to grow and expand its footprint throughout the US market. The financing was supported by CIBC as Exclusive Financial Advisor, Left Lead Arranger and Administrative Agent and Sole Lead Placement Agent. Boldyn is actively delivering neutral host and open access networks to core verticals including public
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January 31, 2025 @ 08:02 AM
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King Trade Capital landed a $5MM purchase order finance solution for an aerospace company in support of their $15 million Air Force contract. The aerospace company approached King Trade Capital seeking a swift funding solution to make timely cash payments to their suppliers. These funds were critical to secure the necessary aircraft components to build landing gear required for their government contract. King Trade Capital worked quickly to underwrite our clients’ capabilities to fulfill the
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January 31, 2025 @ 08:01 AM
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Hilco Global announced two key business development appointments. Kyle Murphy has been named Head of Financial Sponsor Coverage & Managing Director for Hilco Global Advisors, and Kate Madine joins as Senior Vice President, Northeast Region for Hilco Global Advisors. These roles underscore Hilco Global's commitment to enhancing client engagement and expanding market reach.In this new role, Murphy will focus on growing new and existing private equity client relationships in North America, working
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January 31, 2025 @ 08:00 AM
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CoreVision Strategies has extended its banking expertise with the addition of Derek A. Holley as Managing Director. Holley is a Certified Public Accountant with nearly 40 years of combined experience in public accounting, middle market banking and asset-based lending.Before joining CoreVision, Holley was the National Field Exam Manager for JPMorgan Chase where he led a team of 70 professionals and maintained relationships with 50 independent field exam firms that performed over 1,000 exams
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January 31, 2025 @ 07:14 AM
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Monroe Capital acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support Aligned Exteriors Group’s (“AEG”) acquisition of Home Pro Roofing, an existing portfolio company created by River Sea Network and Pearl Street Capital Partners.Based in Grand Rapids, MI, Home Pro Roofing is a professional roofing company providing replacement, installation, repair, inspection, and storm damage services for residential and commercial properties. Founded in
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January 31, 2025 @ 06:00 AM
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Private equity firms are heading into 2025 with increasing momentum, bolstered by favorable economic trends and renewed confidence in deal-making, according to BluWave’s Q4 2024 PE Industry Insights Report. This report offers data-driven analysis of private equity’s evolving priorities and highlights the strategies shaping the industry for the year ahead.“Private equity leaders are shifting from cautious defensive strategies to bold, forward-looking investments,” said Sean Mooney, founder and
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January 30, 2025 @ 08:15 AM
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Encina Private Credit (“EPC”) bolstered the size of the team with key hires during 2024, enabling the business to deliver strong new business volume growth of 74% in its first out enterprise value loan product, compared to 2023. Encina continued to partner with direct lenders and private equity sponsors to support portfolio companies with growth capital and finance add-on acquisitions. “We are pleased to announce the following additions to the Encina Private Credit team during this past year.
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January 30, 2025 @ 08:14 AM
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Trinity Capital announced the commitment of $25 million in growth capital to Wisetack, a leading pay-over-time platform for home services.Wisetack provides consumer financing for home services such as HVAC, plumbing, and pest control, allowing customers to quickly and easily set up pay-over-time options. Wisetack is integrated into the software tools that home service businesses already use, making it easy for the businesses to start offering their customers these flexible options."Wisetack
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January 30, 2025 @ 08:12 AM
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TAB Bank announced the addition of Steel Capital Management, a New York City-based finance company specializing in e-commerce solutions, to its portfolio of Lender Finance clients. TAB Bank has extended a $12 million credit facility to support Steel Capital Management as they provide capital solutions to accelerate growth for Direct-to-Consumer (DTC) companies.Steel Capital Management selected TAB Bank because of its expertise in lender finance, flexible financing structures, competitive cost of
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January 30, 2025 @ 08:00 AM
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PKF O'Connor Davies, one of the nation's largest accounting, tax and advisory practices, announced that its subsidiary, PKF Clear Thinking, will transition under the PKF O'Connor Davies name, effective January 29, 2025. PKF Clear Thinking's business lifecycle advisory solutions will be rebranded as "Turnaround and Restructuring Services" within PKF O'Connor Davies' Strategy and Transaction Advisory practice, reflecting the firm's ongoing commitment to delivering innovative and specialized
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January 30, 2025 @ 08:00 AM
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The national Citizens Business Conditions Index (CBCI) rose to 51.0 in the final quarter of 2024, bolstered by solid corporate revenue trends and sustained strength in the service sector. The reading indicates that business conditions improved modestly in the fourth quarter, as the Federal Reserve continued to lower interest rates and election-related uncertainty abated.While employment trends and new business growth were neutral to the index on a national level, severe weather events and labor
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January 30, 2025 @ 07:58 AM
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Antares Capital, an alternative credit manager with approximately $80 billion in capital under management and administration, announced the appointment of Olga Kosters as Managing Director, Head of Credit Secondaries.Kosters will help oversee the expansion of Antares’ Credit Secondaries investment strategy, which will focus on both GP-led and LP-led credit secondaries opportunities leveraging the firm’s extensive private credit and structuring expertise. Based in New York, Ms. Kosters reports to
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January 30, 2025 @ 07:50 AM
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