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WhiteHawk Capital Partners Launches as Asset-Based Private Credit Lender

January 28, 2021, 08:20 AM
Filed Under: Industry News

Private credit investment manager WhiteHawk Capital Partners, LP (“WhiteHawk”) launched in 2020 with a focus on providing asset-based financing solutions to primarily middle market companies in need of liquidity and growth capital.

WhiteHawk is led by Managing Partners John Ahn, Robert Louzan and Harry Chung, formerly of Great American Capital Partners, also known as GACP, a division of B. Riley Financial. The Managing Partners were joined by their 10-member investment team, ensuring continuity of the firm’s demonstrated investment process.

The team sources, underwrites and lends to public and private companies seeking to provide investors a high level of current income and total return coupled with attractive risk-adjusted returns that are counter-cyclical with a low correlation to the publicly traded credit and equity markets. WhiteHawk’s institutional investors include pensions, family offices, insurance companies and asset managers, and they continue to manage the two funds from their predecessor firm.

Since 2015, the WhiteHawk team has sourced and underwritten 45 investments representing transaction value exceeding $2.7 billion.

The team believes it has an extremely robust investment pipeline due to the COVID-19 pandemic, as the dislocations in the market have increased the reluctance of banks to lend to companies in transition.

WhiteHawk has entered into a strategic relationship with Los Angeles based First Pacific Advisors, LP (“FPA”) to take full advantage of the current investment environment and to maintain their investment focus. FPA provides operational, compliance, and business development support. As of December 31, 2020, FPA manages approximately $26 billion across multiple strategies. Independently owned, FPA has 84 employees, with 26 investment professionals.

“We are excited for our team to continue to take advantage of what we believe are the best opportunities in the middle market. We believe our repeatable, high conviction underwriting process will allow us to achieve attractive returns regardless of the economic environment or borrowing bases’ performance. Partnering with FPA, given their robust and extensive business support, will allow our team to focus on sourcing, underwriting, monitoring and exiting loans,” WhiteHawk’s John Ahn commented.

“We have known the WhiteHawk principals for over a decade. We are thrilled to work with WhiteHawk and support what we believe is a high value-added and differentiated strategy,” said FPA Managing Partner Steven Romick.

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