Ares Management Corporation announced that funds managed by its Credit Group closed approximately $9.3 billion in U.S. direct lending commitments across 71 transactions during the first quarter of 2024 and approximately $29.6 billion in direct lending commitments across 253 transactions in the 12 months ended March 31, 2024. Below is a description of selected transactions that Ares closed during the first quarter of 2024.Aptean / TA Associates, Insight Partners and CharlesbankAres served as a
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The majority of today's business leaders expect to see revenue growth this year, with 32% believing revenues will grow by more than 10%, according to the 2024 Working Capital Survey from C2FO, the world's on-demand working capital platform.While most respondents said they currently have the liquidity they need, nearly 1 in 4 businesses don't have access to enough capital to operate for a year. Nearly 60% said that increasingly longer payment terms with customers require them to find alternative
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May 02, 2024 @ 08:00 AM
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SLR Credit Solutions (“SLR CS”) closed a $50 million senior credit facility comprised of a revolver and term loan for Fluent, Inc., a leader in performance marketing, delivering customer acquisition and partner monetization solutions through its digital media portfolio, global commerce partnerships, and proprietary data and tech.Proceeds from the transaction were used to refinance existing debt and to provide enhanced liquidity for general operations and growth.“We are enthusiastic about the
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Republic Business Credit announced the addition of Brian Resutek as Senior Vice President, Southeast Regional Manager. Resutek brings nearly two decades of experience in factoring, commercial finance, banking and business development. He joins a team at Republic that has grown by more than 20% in the first half of 2024 alone, adding seven key new hires in the past 90 days. Resutek brings deep industry knowledge in addition to his dynamic finance background, particularly supporting growing
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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 passionate about sharing my knowledge and being a mentor to others in the industry. My enthusiasm for product mixed with the opportunity to support new industry professionals is what I love most about my role, and I am greatly appreciative to be recognized
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Houlihan Lokey announced that Erik Kistler has joined the firm’s Healthcare Group as a Managing Director. Based in New York, Kistler will cover selected areas within healthcare retail multi-site, physician practices, and pharma services.Kistler joins the firm after spending two years as an Executive Director at Moelis & Company. At Moelis, Kistler covered multi-site healthcare and pharma services. Prior to that, Kistler spent six years at Edgemont Partners, a premier healthcare-dedicated
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King Trade Capital (“KTC”) announced a $4.5MM purchase order line increase for an existing client in the aircraft parts business. The aircraft parts company initially received a PO finance solution from King Trade Capital to help execute upon the purchase and refurbishment of parts to fulfill $18 Million of purchase orders from major US airline and the US government. The offering provided by KTC includes cash payments to the Client’s suppliers to purchase aircraft parts that are then sent to be
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SLR Digital Finance funded a $4,000,000 credit facility for a New York based lead generation and digital marketing specialist, recognized as one of the fastest-growing private companies in America. The recipient of the 2023 Inc. 5000 designation, the company is an industry leader in providing lead generation, content, display media, and targeted email campaign services to large enterprise software and technology companies. With over 300 employees worldwide, they continue to experience rapid
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LSQ originated a $3.5 million account receivable credit facility for a staffing firm serving the hospitality and IT industries.The company was referred to LSQ by a bank partner. The additional working capital will be used to support their rapid growth with additional new contracts.As part of the partnership, LSQ will also provide the company with comprehensive accounts receivable and customer credit management.“Staffing firms often face long payment terms and an inherently seasonal risk in the
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Monroe Capital acted as sole lead arranger and administrative agent on the funding of a senior credit facility and equity co-investment to support the acquisition of LidoChem, Inc. by Valudor Products, LLC. Based in Encinitas, CA, Valudor Products is a market leader in the sourcing of chemical raw materials in the agricultural and industrial space in Canada, United States and Latin-America. Valudor Products has a portfolio of 80+ different chemicals sold into fertilizers, animal feed and
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BHI, the U.S division of Bank Hapoalim, appointed Nisan Blum as Chief Risk and Compliance Officer. Blum will report directly to CEO, Gil Karni, and join the Senior Management Team.Blum joins BHI most recently from Cross River Bank where he served as Chief Compliance Officer. Prior to that, he spent 25+ years at Bank Leumi, both in Israel and in the U.S. in various compliance, AML, Audit and Risk Management roles. “Identifying and mitigating potential and emerging risks—whether they be
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JOANN has successfully emerged from its court-supervised financial restructuring process, and has substantially reduced its funded debt by half while further enhancing its liquidity through a $153 million exit financing facility that replaces the previously announced debtor-in-possession financing. The prepackaged Chapter 11 plan was supported by the Company’s lenders, creditors and industry partners, and became effective April 30, 2024, enabling JOANN to be in its best financial position in
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Golub Capital announced the final close of its sixth credit opportunities fund, GEMS Fund 6, L.P. (“the Fund” or “Fund 6”), with $2 billion of investable capital.Fund 6 is the largest Golub Capital Credit Opportunities fund to-date. Commitments were in excess of the target fundraise and came from a diverse range of global institutional and private wealth investors across North America, Europe, the Middle East and Asia.“We have a proven track record in Credit Opportunities with five successful
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Triumph Financial appointed Jamie Paterson as the Executive Vice President, Chief Operating Officer – Banking Operations of its TBK Bank, SSB subsidiary. In his role, Paterson will be responsible for overseeing operational excellence for the bank. Reporting to Todd Ritterbusch, president of TBK Bank, Paterson will provide direction and oversight of all operational functions within the retail bank, including digital banking, customer service, operational risk management, fraud mitigation, product
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Scotiabank announced that Travis Machen has been appointed CEO and Group Head of its Global Banking and Markets (GBM) business, effective May 6, 2024.In this role, Machen will be responsible for leading the execution of a global banking business strategy that builds on Scotiabank's unique North American reach and GBM's strategic presence in Latin America, Europe and Asia Pacific. He will focus on expanding product offerings and earning more primary clients to deliver sustainable and profitable
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