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Focus Financial Upsizes Credit Facility to $1 Billion

June 08, 2015, 07:21 AM
Filed Under: Investment Financing

Focus Financial Partners, LLC has increased its credit facility from $550 million to $1 billion to support its continued growth. The credit facility is supported by a consortium of leading financial institutions, including Bank of America, SunTrust, BMO Harris Bank, The Bank of Tokyo Mitsubishi, UFJ, Fifth Third Bank, J.P. Morgan, Citizens Bank, U.S. Bank, Huntington National Bank, BankUnited, FirstBank Florida, and Comerica.

“The upsizing represents an increase of 82 percent since December 2013 and now includes 12 financial institutions in the syndicate of lenders. We are delighted that the Focus model is well recognized by the industry leaders,” said James Shanahan, Chief Financial Officer of Focus Financial Partners. “This expanded credit facility increases our capacity for supporting our partner firms' business growth and M&A activities.”

“Focus has continued its upward trajectory in 2015 with high deal volume and strong momentum. The upsizing demonstrates the strength of our business model, the sustainability of our economic model and the scale of opportunities ahead,” said Rudy Adolf, Founder and CEO of Focus Financial Partners. “The credit facility further enhances our balance sheet, and aligns with our plans to support our existing partner firms.”

The $1 billion credit facility is available to all Focus partners, providing them with access to market leading capabilities while retaining their independence and entrepreneurial goals. The new credit facility also further supports Focus Connections program, which helps elite brokers from large wirehouses to establish their independent RIAs; and Focus Successions, an industry-wide solution that helps sole practitioners put in place robust business continuity plans.

In the past year, Focus has brought on seven new partner firms and affiliates, including the first Canadian partner firm, which reflects Focus’ continued international expansion. In addition, Focus has executed multiple merger transactions for its partner firms to boost their local scale. Focus has also made sizable investments in talent through 11 new hires across its M&A, Legal, Finance and Marketing teams. These additions will serve to increase the holding company’s bench strength and resources to further drive organic growth for the partner firms.

Founded in 2006, Focus Financial Partners, LLC, is the leading international partnership of independent, fiduciary wealth management firms.

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