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Antares announced that it closed 139 transactions totaling almost $11 billion in financing commitments to middle market private equity-backed companies in the first half of 2021.“Antares’ performance in the first half of 2021 illustrates the resilience of our portfolio and the strength of our originations capabilities,” said David Brackett, CEO of Antares. “Decades of experience and disciplined underwriting have enabled us to develop and maintain a high-quality credit portfolio. With weighted Read Story

Field Under: Private Equity News
July 30, 2021 @ 08:10 AM

Phoenix Management Services appointed Steven Rosenblum and Steven Warsaw as Managing Directors of the firm’s investment banking affiliate, Phoenix Capital Resources®.Well known in the industry for their transaction-based experience, they bring to the firm a multi-year, successful track record working together as a team on behalf of public and private middle market businesses and their financial sponsors.  In keeping with Phoenix’s core value proposition, Mr. Rosenblum and Mr. Warsaw’s approach Read Story

July 30, 2021 @ 08:00 AM

Ares Management Corporation provided details on certain new financing commitments made across its U.S. direct lending strategies. Funds managed by Ares Management Corporation’s Credit Group (collectively “Ares”) closed approximately $9.0 billion in commitments across 77 transactions during the second quarter of 2021 and approximately $21.8 billion in commitments across 221 transactions in the last twelve-month period ended June 30, 2021. This compares to the $1.7 billion in commitments closed Read Story

Field Under: Private Equity News
July 30, 2021 @ 07:59 AM

Oxford Finance announced Kevin Harbour has joined Oxford’s healthcare services real estate and asset-based lending team.As Managing Director, Harbour will be responsible for: Continuing the firm’s industry-leading real estate bridge lending programs. Developing new financial offerings, including structured equity and acquisition lines of credit for qualified healthcare companies. Expanding Oxford’s asset-based lending platform in all healthcare sectors. Managing the firm’s associated Read Story

July 30, 2021 @ 07:58 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 capital for SLR HCLF is expected to be over $1 billion. SLR HCLF, which seeks to capitalize on SLR's expertise and strong presence in healthcare lending, furthers the firm's strategy of providing financing solutions through its cash flow and specialty Read Story

Field Under: Industry News
July 30, 2021 @ 07:50 AM

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 company’s borrowing costs directly to its progress in achieving its sustainability targets. The credit facility is provided by a consortium of 22 leading global financial institutions, with BNP Paribas and Bank of America serving as Co-Sustainability Read Story

Field Under: Industry News
July 30, 2021 @ 07:46 AM

CIT Group has appointed Kevin Ronan as National Sales Director for the Capital Equipment Finance business.Ronan, who was also promoted to senior vice president, will be based in New York and will oversee business development within Capital Equipment Finance for both the direct and indirect sales channels.“During his time at CIT, Kevin has demonstrated outstanding customer focus and commitment to client satisfaction,” said David Harnisch, president of CIT’s Commercial and Real Estate Finance Read Story

July 30, 2021 @ 07:00 AM

IBC Advanced Alloys Corp. entered new credit facilities (the “Credit Facilities”) of up to $8,000,000 established pursuant to (a) a credit and security agreement among Iron Horse Credit, LLC and certain of the Company’s U.S. subsidiaries and (b) an account sale and purchase agreement (the “ASPA”) among Sallyport Commercial Finance, LLC and the Subsidiaries. The Credit Facilities replace the Company’s existing revolving credit facility with the Bank of Montreal.Pursuant to the Credit Agreement Read Story

Field Under: Metals and Mining
July 30, 2021 @ 06:00 AM

LendingUSA closed a new credit facility of $200 million from Atalaya Capital Management and Credit Suisse. Sector Financial Inc., an affiliate of Credit Suisse, provided access to the credit facility. LendingUSA has previously closed credit facilities from both Atalaya and Credit Suisse.   Since its founding in 2015, LendingUSA has grown to serve more than 10,000 merchant clients throughout the United States and has processed billions in borrower loan requests. Its merchant partners, which Read Story

Field Under: FinTech
July 29, 2021 @ 08:00 AM

Monroe Capital announced Chris Babick has joined the firm’s originations team as Managing Director. Chris will lead the firm’s relationship sourcing and the origination of new business opportunities within the Southeast region.Prior to Monroe, Chris was a Director at Manulife Investment Management, sourcing, structuring, and underwriting private debt transactions to middle market private equity sponsors and their portfolio company. He has over 19 years of experience in private debt investing and Read Story

July 29, 2021 @ 08:00 AM

Christopher J. Murphy III, Chairman and CEO of 1st Source Corporation announces the Board of Directors’ promotion of Brett Bauer to Chief Financial Officer and Treasurer of 1st Source Corporation and 1st Source Bank with responsibility for Accounting, Finance, Asset Liability Management, Treasury Management and Investor Relations; and that of John Bedient to Chief Operations Officer of 1st Source Bank overseeing a new Operations Group combining both deposit and loan operations. Mr. Murphy states Read Story

July 29, 2021 @ 07:58 AM

CIT Group announced that its Healthcare Finance business served as lead arranger of $100 million in financing for Cornerstone Healthcare Group Holdings Inc. and their long-term acute care hospital division.Based in Dallas and founded in 1990, Cornerstone Healthcare Group is a diversified healthcare company that manages a network of specialty hospitals, senior living communities, behavioral health facilities, and home health and hospice operations. Cornerstone is the fifth largest long-term acute Read Story

Field Under: Healthcare
July 29, 2021 @ 07:50 AM

Cambridge Savings Bank announced that its Asset-Based Lending team has added on to an existing credit facility extended to Purity Services, Inc., a full-service healthcare linen rental and commercial laundering company based in New Bedford, Massachusetts. In July 2020, CSB committed $4,350,000, and has closed an additional $6,500,000 with the full financing package totaling $10,850,000. Recently having added large contracts that will impact the Company’s revenue, Purity Services was seeking a Read Story

Field Under: Rental
July 29, 2021 @ 07:45 AM

Siena Lending Group continues to be a leader in the asset-based lending industry, consistently finding creative ways to offer clients maximum flexibility and liquidity. To follow is an overview of the financing solutions that Siena and Siena Healthcare Finance division delivered in Q2 2021. In firm news, the company continued to grow its team to meet the financing needs of its clients, bringing in recognized industry veterans Joe Panico and Keith Holler among other significant additions.  “We Read Story

July 29, 2021 @ 07:40 AM

Stonebriar Commercial Finance extended its $1 billion revolving warehouse credit facility for another two years.The Facility, which serves as one of Stonebriar’s primary working capital facilities, was originally closed in 2018 and is agented by Bank of America. Other lenders include Credit Suisse, Citizens Bank, Fifth Third Bank, Security Benefit Life and Mitsubishi UFJ Financial Group (“MUFG”), a new participant in the facility. The Facility, which now extends to July 2025, provides financing Read Story

Field Under: Lender Finance
July 29, 2021 @ 07:30 AM