The Goldman Sachs Group announced several actions to better serve corporate and investor clients and grow its business in private credit, private equity and other asset classes. The firm is creating the Capital Solutions Group, which will combine and grow its comprehensive suite of financing, origination, structuring and risk management solution activities in Global Banking & Markets. The firm will also expand its alternatives investment team in Asset & Wealth Management to ensure the best
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January 16, 2025 @ 08:15 AM
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JOANN Inc., the nation’s category leader in sewing and fabrics with one of the largest arts and crafts offerings, has commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware to facilitate a sale process to maximize the value of its business. JOANN stores and JOANN.com are open in the ordinary course and continue to serve customers. Team Members are continuing to receive pay and benefits.
Previously on ABL Advisor: JOANN Emerges from Restructuring
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January 16, 2025 @ 08:12 AM
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Apollo and Standard Chartered PLC announced a long-term strategic partnership to support and accelerate financing for infrastructure, clean transition and renewable energy globally, leveraging the leading origination and distribution capabilities of both firms.As part of the agreement, Standard Chartered and Apollo Clean Transition Capital (“ACT Capital”), a sustainable investing platform, plan to contribute up to US$3 billion of clean energy and transition financing across a range of asset
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January 16, 2025 @ 08:10 AM
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Garrington Capital announced the appointment of Tammy Kemp to the position of President of Garrington.“Tammy's strategic vision and commitment to excellence make her the ideal leader to drive Garrington's continued growth and success," said Toreigh Stuart, Managing Director, Garrington.Since joining Garrington in 2016, Kemp has played a pivotal role in shaping the firm’s credit and risk strategy. In her most recent role as Executive Vice President and Chief Credit Officer, she was responsible
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January 16, 2025 @ 08:05 AM
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Colbeck Capital Management raised $700 million in capital commitments for its third flagship fund, Colbeck Strategic Lending III (the “Fund” or “CSL III”), exceeding its target by 40%. The Fund received strong support from both existing Colbeck clients and new investor relationships globally, including public and private pensions, insurance companies, endowments, foundations, consultants, registered investment advisors and family offices. The Fund’s successful final close brings Colbeck’s
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January 16, 2025 @ 08:03 AM
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MONTICELLOAM, a specialized multifamily and seniors housing bridge lending platform, announced the closing of $73,200,000 in total bridge and working capital financing for a portfolio of seniors housing and healthcare properties across Ohio. The $64,700,000 floating-rate senior bridge loan will be used by the sponsorship group, a repeat client of MonticelloAM, to recapitalize the existing debt on the portfolio, consisting of independent living, assisted living, and skilled nursing properties.
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January 16, 2025 @ 08:01 AM
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AlixPartners announced that David Garfield and Rob Hornby have been appointed to serve as Co-Chief Executive Officers, effective February 1, 2025. The new Co-Chief Executives, both of whom are currently in senior leadership roles at AlixPartners, were selected following an extensive process, which considered a range of internal and external candidates.David and Rob succeed Simon Freakley, who has served as Chief Executive Officer since 2015. Simon has become the Executive Chairman of
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January 16, 2025 @ 08:00 AM
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nFuison Capital provided a $5 million factoring facility to a Alaska-headquartered Company that provides welding, fabrication, and steel erection services to the mining, oil field, and construction industries. With long-term experience in the state, they are familiar with the inherent challenges of operating in arctic environments and the specialized equipment required to work on permafrost and wetlands.With a history of steady growth, the Company had an exciting opportunity to work on a new
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January 16, 2025 @ 07:51 AM
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Houlihan Lokey announced that Riccardo Cazzoli has joined the Consumer Group as a Managing Director, focused on the firm’s consumer health efforts. He is based in New York.Cazzoli joins from Lincoln International, where he was a Managing Director and Head of Consumer Healthcare, responsible for M&A and financing transactions for clients in the OTC, VMS, medical nutrition, and personal care sectors. His prior experience also includes roles at Sawaya Partners, where he was a Managing Director in
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January 16, 2025 @ 07:30 AM
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MidCap Financial provided a $17.5 million senior secured credit facility to Kellenberger, a portfolio company of Centre Lane Partners, LLC. Proceeds from the MidCap Financial credit facility will support Kellenberger’s ongoing working capital needs.Kellenberger is a leading international provider of advanced metal-cutting solutions. The Company provides a full spectrum of highly reliable CNC turning, milling, and grinding machines. The diverse products Kellenberger offers enables the Company to
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January 16, 2025 @ 07:20 AM
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KeyCorp announced that Mohit (Mo) Ramani will join Key as Chief Risk Officer (CRO), effective January 23, 2025."I am very pleased to welcome Mo to Key," said Chris Gorman, Chairman and Chief Executive Officer of KeyCorp. "I am confident that with Mo's leadership, experience, and expertise we will continue to elevate our risk management practices and culture, further enabling strong, profitable growth for Key."Ramani joins Key from Truist Financial Corporation where he has served in increasingly
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January 15, 2025 @ 08:17 AM
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Second Avenue Capital Partners (“SACP”), a Schottenstein affiliate, along with Alpha Wave Global and Sagard Credit, announced the closing of a new term loan and revolving credit facility for True Religion Apparel, Inc. SACP once again served in various roles for this transaction including as Sole Arranger, Revolver Agent, Sole Revolver Lender and Term Loan Lender.The new credit facilities supported the recently announced acquisition of a controlling stake in True Religion by ACON Investments
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January 15, 2025 @ 08:15 AM
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KBRA released research that considers the themes that matter for private credit in 2025.Key Takeaways
Trump 47 is expected to have a mixed impact on the private credit industry. The prospects for lower taxes and reduced regulations are likely to add fuel to the pent-up desire for exits, driving private credit loan growth and acting as a tailwind to portfolio company credit quality. Meanwhile, renewed inflationary concerns have already caused markets to anticipate fewer rate cuts. A mere two
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January 15, 2025 @ 08:10 AM
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Amerisource Business Capital closed and funded a $3,500,000 senior credit facility for a Texas-based private equity firm specializing in technology consulting and investment.Matt Brice, Relationship Manager at Amerisource, stated, “Our partnership with this company is primed to drive growth and create new opportunities for both organizations.” Bill Herrington, Executive Vice President of Amerisource, further remarked, “This transaction underscores our ongoing commitment to supporting innovative
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January 15, 2025 @ 08:09 AM
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Siena Lending Group closed a new senior secured credit facility for FeraDyne Outdoors LLC, a manufacturer and wholesaler of leading brands in outdoor hunting gear and archery. The new facility consists of a revolving line of credit, providing FeraDyne with access to enhanced liquidity and the ability to support its strategic business objectives."It was a pleasure working with Siena” said Don Germano, the CEO of FeraDyne Outdoors. “The team took a collaborative approach, enabling us to implement
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January 15, 2025 @ 08:08 AM
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