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White Oak Deploys Nearly $1.5B in Lending Activity in 2022

March 17, 2023, 08:00 AM
Filed Under: Industry News

White Oak Global Advisors announced that the firm, together with its financing affiliates, originated $1.4 billion of loan transactions across 60 deals in 2022.

“2022 was an exceptional year for White Oak,” said Andre Hakkak, Co-Founder & CEO. “The current economic landscape continued to drive demand on the borrower side for flexible lending solutions that can be executed with speed, and investors continued to show their appetite for a private credit strategy that offers bank-like lending within an asset management framework. I’m thrilled by the impact we had in 2022 and look forward to another year of success.”

With many traditional banking lenders withdrawing from a market challenged by tighter monetary policy and significant volatility, small and medium enterprises (SMEs) continued to look for ways to access differentiated financing solutions. White Oak continued to position itself as a primary non-bank lender to SMEs and remained deeply committed to providing tailored and flexible solutions, underwritten by industry experts.

“Over the past year, White Oak was again able to service SMEs across an array of industries as a one-stop shop provider for long-term, scalable, and customizable financing,” said Darius Mozaffarian, Partner & President at WOGA. “Looking ahead, and in light of persistent inflation data, the labor market and interest rate environment, we see continued demand for such offerings and remain bullish on asset-based and asset-backed lending from an investment opportunity standpoint.”

The total dollar amount of White Oak’s 2022 originations accounts for the combined value of 60 separate transactions to SMEs across multiple sectors. Key transactions included:

  • A $114 million transaction to provide financing for the acquisition of a full-service refractory provider for steel and industrial activities.
  • A $125 million ABS transaction in which White Oak worked closely with Syco Entertainment Ltd on a flagship securitization of non-scripted TV shows.
  • A $130 million senior secured term loan in which White Oak was Lead Arranger to Trecora Resources, facilitating a take-private transaction by Balmoral Funds.
  • A $21.3 million senior credit facility to Omni Recycling, underscoring White Oak’s leading position in impact-oriented private credit transactions.

Finacity Corporation (“Finacity”), a global leader in working capital and trade finance funding solutions that was acquired by White Oak in 2021, also marked 2022 as a record year with $150 billion-plus of receivables financed through White Oak facilities.

Watch the exclusive ABL Advisor video interview featuring Darius Mozaffarian here.

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