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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 to 2012, according to Fitch Ratings. Travel-related ABS and CMBS with exposure to retail and hotels have experienced the most significant rating changes to date, unlike the global financial crisis (GFC) when US RMBS and SF CDOs accounted for roughly Read Story

Field Under: Industry News
May 29, 2020 @ 09:25 AM

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 credit situations and unique circumstances. The Miami-based company, established in 1975, is a funding source for small businesses, entrepreneurs, vendors and equipment brokers throughout the country. The new credit facility will provide additional Read Story

Field Under: Industry News
May 29, 2020 @ 09:20 AM

Phoenix American, a full-service fund administration provider for alternative investment funds, has published a new white paper examining the initial impacts of the COVID-19 pandemic crisis on commercial real estate across the United States. CRE & COVID-19 Winners, Losers & the Road Ahead, A Trends Outlook Report analyzes the effects on commercial real estate of the first three months of the pandemic crisis and the outlook for the rest of 2020 and beyond.The paper draws on Phoenix American's Read Story

May 29, 2020 @ 09:15 AM

New data released by CAN Capital, Inc. shows business owners have a sense of confidence for the future after the COVID-19 crisis.Polling more than 400 U.S. small business owners across 49 states, the research reveals the majority of small business owners believe the future of their business is bright. Specifically, 79 percent of respondents feel at least somewhat confident in their business’s future, with 54 percent responding they are very confident.The data also shows that 74 percent of these Read Story

Field Under: Economy
May 29, 2020 @ 09:10 AM

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 opaque with few sources of information on default rates. Our new Default Index provides a new level of transparency and gives investors a window into the market, and its performance, they have otherwise not had,” says Stephen A Boyko, co-chair of Read Story

Field Under: Industry News
May 29, 2020 @ 09:00 AM

White Oak Commercial Finance (“WOCF”), an affiliate of San Francisco-based alternative investment manager White Oak Global Advisors, LLC (“White Oak”), today announced Andy McGhee, Susan Hall and Neal Mulford have joined the firm to further expand its asset-based lending (ABL) and lender finance capabilities. Andy, Susan and Neal together bring over 100 years of combined experience to WOCF, after most recently originating, deploying and managing a multi-billion dollar ABL portfolio at AloStar Read Story

May 28, 2020 @ 08:05 AM

Gordon Brothers, the global advisory, restructuring and investment firm, announced Dennis Bolton has joined its Commercial & Industrial division as Managing Director.Bolton will assist clients in evaluating remarketing methods for various types of commercial and industrial assets as well as sourcing and facilitating large equipment deals in a multitude of sectors including construction, mining, energy and aviation industries. Bolton has more than 30 years of experience in industrial machinery Read Story

May 28, 2020 @ 08:00 AM

Chiron Financial, LLC, a global middle market investment banking firm, announced that Tom Bell has joined as a Senior Advisor in Houston. He will provide leadership in capital markets and M&A transactions and in guiding the firm's global growth. Co-founder Scott Johnson commented “Chiron is delighted to welcome Tom to our team. He is a highly experienced banker who has filled key roles at both JPMorgan Chase and HSBC and has developed deep and broad relationships in finance, energy, and other Read Story

May 28, 2020 @ 07:55 AM

SC&H Capital, a leading investment banking and advisory firm, announced it has entered into a joint venture with two healthcare consulting firms, Healthcare Management Partners and I3 Healthcare Consulting, to better serve the strategic and financial needs of the healthcare industry.Even before the COVID-19 outbreak hit, SC&H Capital Managing Directors Ken Mann and Christopher Helmrath, recognized the need to expand SC&H Capital’s partnerships with specialists in the healthcare industry. Having Read Story

Field Under: Joint Venture
May 28, 2020 @ 07:50 AM

Stapleton Group announced it has expanded its team with three key hires and promoted Jake Diiorio to managing director. Michael Husted has joined Stapleton as a director specializing in operations; Joan Hadeed as associate director, Financial Advisory Services; and Emily Chen as associate director, Accounting Services.Stapleton, one of the largest independent providers of financial advisory and professional fiduciary services in the Western U.S., has completed more than 250 engagements exceeding Read Story

May 28, 2020 @ 07:45 AM

Gordon Brothers, the global advisory, restructuring, and investment firm, announced today the appointment of Kyle Shonak as Managing Director in the Retail division.  In his role as Managing Director, Shonak will have many responsibilities, including managing retail client engagements and working with the team to enhance the group’s retail growth strategy.“Kyle has extensive experience in structuring and executing complex transactions, allowing us to offer clients customized solutions that suit Read Story

May 27, 2020 @ 09:10 AM

The Securities and Exchange Commission announced that Ares Management LLC, a Los Angeles-based private equity firm and registered investment adviser, has agreed to pay $1 million dollars to settle charges that it failed to implement and enforce policies and procedures reasonably designed to prevent the misuse of material nonpublic information.The SEC’s order finds that, in 2016, Ares invested several hundred million dollars in a public company through a loan and equity investment that allowed Read Story

Field Under: Private Equity
May 27, 2020 @ 09:05 AM

SC&H Capital, a leading investment bank specializing in M&A advisory, announced it acted as the exclusive investment banker to Beef International, Inc. (“Beef International”) in the sale of its equipment and inventory assets to RKW Holdings, LLC (RKW), a Delaware Corporation.Beef International, a custom manufacturer of premium meat products, engaged SC&H Capital to explore strategic options for the company, and after completing an extensive process, ownership felt the offer presented by RKW was Read Story

May 27, 2020 @ 09:00 AM

In a time of turmoil, Gibraltar Business Capital funded an acquisition for a new client via an $18 million line of credit. The transaction was initiated by a family office investor group.No Time to WaitThe family office acquired two refrigeration divisions of a larger manufacturing company. With facilities in Wisconsin and Mississippi, the divisions manufacture a full line of refrigerated cabinets and walk-ins for use in food service, restaurants, grocery stores, and other retail end markets.The Read Story

May 27, 2020 @ 08:50 AM

MONTICELLOAM, LLC and its affiliates (Monticello), a specialized private real estate and asset-based lender, asset manager and servicer, announced it has provided $30.00 million in first lien debt financing for the acquisition of one skilled nursing facility and for the refinancing of two skilled nursing facilities totaling 312 beds in Kentucky and North Carolina.The transaction’s sponsor is an experienced owner and operator with a current portfolio of 8,752 licensed beds and has an established Read Story

Field Under: Nursing Facilities
May 27, 2020 @ 08:00 AM