-
Vice Media Files for Bankruptcy
May 15, 2023Vice will enter into a purchasing agreement with a number of its vendors to try and stay afloat, according to a filing in New York federal court. The group, led by Fortress Investment Group, Soros Fund Management, and Monroe Capital, will purchase Vice's assets for $225 million and take on liabilities as high as $1 billion, the filing said.
-
TPG to Acquire Angelo Gordon
May 15, 2023TPG Inc. (NASDAQ: TPG), a leading global alternative asset management firm, and Angelo Gordon, a $73 billion1,2 alternative investment firm focused on credit and real estate investing, today announced that the companies have entered into a definitive agreement under which TPG will acquire Angelo Gordon in a cash and equity transaction valued at approximately $2.7 billion, based on TPG Inc.’s share price as of May 12, 2023, including an estimated $970 million in cash and up to 62.5 million common units of the TPG Operating Group and restricted stock units of TPG, in each case, subject to certain adjustments.
-
SFNet Member Spotlight: Paladin Management Group, LLC
Paladin is a middle‐market advisory firm driving value creation through consulting services. We guide middle‐market companies and their stakeholders through challenging financial, operational, and strategic transitions.
-
SFNet Partners with NYU Stern to Offer new Course - Impactful Leadership for High Potentials, Bringing a Multi-faceted Learning Experience
May 11, 2023
The Secured Finance Foundation has joined forces with NYU Stern Executive Education to bring a multi-faceted learning experience taught by NYU Professor, Nathan Pettit (pictured) coupled with real-world secured finance applications.
This two-day course, held in person at NYU Stern June 20-21, will introduce attendees to a variety of analytical frameworks while simultaneously modelling tactical approaches – all with the focus on developing leadership skills.
-
Daktronics, Inc. Strengthens Financial Position by Securing $100 Million In Capital Commitments
May 11, 2023
Closes $75 Million Senior Secured Credit Facility with JPMorgan Chase and $25 Million Convertible Note Investment with Major Shareholder Alta Fox Capital
-
EquipmentShare Closes $3 Billion Senior Secured Asset-Based Revolving Credit Facility With Capital One Bank and Announces the Successful Closing of Its Debut Bond Offering
May 10, 2023Goldman Sachs & Co. LLC acted as the lead book running manager, Wells Fargo Securities, Capital One Securities, Citigroup, Fifth Third Securities, J.P. Morgan, Mizuho, MUFG, SMBC Nikko and Truist Securities acted as joint book-running managers and Regions Securities LLC and UBS Investment Bank acted as co-managers for the successful private offering of the Notes.
-
Legacy Corporate Lending, New Asset-based Lending Company, Launches With Investment From Bain Capital Credit
May 10, 2023Legacy Corporate Lending (“Legacy”) a new asset-based lending (ABL) company, today announced its launch as an independent lender focused on serving the needs of middle market companies across North America. Legacy is launching with a significant equity investment from funds managed by a subsidiary of Bain Capital Credit, L.P., (“Bain Capital Credit”), a leading global credit specialist.
-
SFFound and DEI Committee Launch Second Iteration of Spring Mentorship Program
May 9, 2023The program is designed to encourage diversity and foster inclusivity by enabling established veterans in the secured finance industry and those new to their careers to build relationships and learn from one another through a virtual mentoring initiative.
-
CIT Commercial Services Announces New Appointments
May 8, 2023Tom Fingleton, who has served as Northeast regional manager since March 2019, has been named chief strategy officer. Moving into the role as Northeast regional manager is Amna Mahmood, a managing director who has served as Commercial Services’ national underwriting manager since 2019. Succeeding Mahmood in the role of national underwriting manager is Daniel Goll.
-
SFNet Member Spotlight: Sound Point Capital Management, LP
May 8, 2023Sound Point Capital Management, LP
375 Park Avenue, 33rd Floor
New York, NY 10152
www.soundpointcap.com
Sound Point Capital Management, LP is an asset management firm founded in 2008 with particular expertise in credit strategies. -
US Capital Global Launches Global M&A Division for the Emerging Growth and Middle Market Arena
-
SVB Financial Must Wait in Line for Its $2 Billion, FDIC Says
May 8, 2023Before SVB Financial Group bondholders can collect the billions they are owed, the bankrupt company may have to file a claim with the Federal Deposit Insurance Corp. to recover $2 billion worth of deposits trapped by the receivership of Silicon Valley Bank.
-
Entrepreneur Growth Capital LLC Completes $8.0 Million Credit Facility for Wholesale Distributor Company
May 4, 2023The facility includes a $4 million revolver and a $4 million term loan that will repay existing debt, support current operations and permit management to pursue several growth strategies.
-
Nonbank Lenders Take Note of Venture Lending Opportunities
May 4, 2023
As VC markets cool, more cash-starved companies are turning to venture lending to tide them over until a new equity round is possible. Lenders are taking note—but it may not be the lenders one would expect.
In this Q&A with Jennifer Post, managing partner of Thompson Coburn LLP’s Los Angeles office, she discusses if recession fears are slowing down equity markets, if start-ups are depending more on risky “uncommon players” for venture capital and other critical challenges startups face.
-
Accord Financial Adds to U.S. Business Development Team with Ira Almond and Sahil Sharma
Each is responsible for developing partnerships across a broad range of industries providing creative equipment financing solutions to middle market businesses while expanding and deepening Accord’s relationships within the independent sponsor and intermediary communities.
-
SFNet Member Spotlight: Infinity ABL Services, LLC
Infinity ABL Services, LLC
1121 Mason Ave.
Drexel Hill, PA 19026-2509
https://www.infinityabl.comInfinity ABL provides field exam services for banks and other commercial finance institutions. Infinity ABL, created in February 2021, has three partners with extensive ABL knowledge.
-
Hitting Their Stride: Secured Finance Professionals Discuss Keys to Developing Confidence
What is it about some women that makes them seem fearless and unflappable? Here, we interview three women, Phyllis Young, partner, McGuireWoods LLP; Jan Bellah chief operating officer, Pay4Freight LLC; Jennifer Cann, senior vice president and head of the Retail Finance Group Portfolio, Bank of America, N.A. with very different careers in the financial industry who seem to have figured out the key to feeling and appearing confident and effective in the workplace.
-
Interview with Melissa Mok, Director of Asset-Based Lending Originations, Truist Securities
The Women in Secured Finance e-newsletter's feature interview for this issue is with Melissa Mok, director of asset-based lending for Truist Securities. Mok joined Truist Securities in 2014. Located in Texas, she is responsible for ABL originations of mid- and large-cap companies and is currently focused on the Financial Services, Energy and Industrial Services. TMT and TME industry verticals.
-
Wingspire Capital Provides $30 Million Revolver to GTT Communications
May 2, 2023Wingspire Capital LLC (“Wingspire”) was pleased to provide a $30 million senior secured credit facility to GTT Communications (“GTT”), a global provider of managed secure networking services for large enterprise and carrier clients.
-
Citizens Leads $750 Million Credit Facility for Hexcel Corporation
May 1, 2023
Citizens is leading a $750 million senior credit facility for Stamford, CT-based Hexcel Corporation.
Founded in 1948, Hexcel is a leading advanced composites company specializing in the development, manufacturing, and marketing of lightweight, high-performance materials, including carbon fibers, reinforcements, prepregs, honeycomb, matrix systems, adhesives, and composite structures for use in commercial aerospace, space and defense, and industrial applications.
-
Vice Media Files for Bankruptcy
May 15, 2023Vice will enter into a purchasing agreement with a number of its vendors to try and stay afloat, according to a filing in New York federal court. The group, led by Fortress Investment Group, Soros Fund Management, and Monroe Capital, will purchase Vice's assets for $225 million and take on liabilities as high as $1 billion, the filing said.
-
TPG to Acquire Angelo Gordon
May 15, 2023TPG Inc. (NASDAQ: TPG), a leading global alternative asset management firm, and Angelo Gordon, a $73 billion1,2 alternative investment firm focused on credit and real estate investing, today announced that the companies have entered into a definitive agreement under which TPG will acquire Angelo Gordon in a cash and equity transaction valued at approximately $2.7 billion, based on TPG Inc.’s share price as of May 12, 2023, including an estimated $970 million in cash and up to 62.5 million common units of the TPG Operating Group and restricted stock units of TPG, in each case, subject to certain adjustments.
-
SFNet Member Spotlight: Paladin Management Group, LLC
Paladin is a middle‐market advisory firm driving value creation through consulting services. We guide middle‐market companies and their stakeholders through challenging financial, operational, and strategic transitions.
-
SFNet Partners with NYU Stern to Offer new Course - Impactful Leadership for High Potentials, Bringing a Multi-faceted Learning Experience
May 11, 2023
The Secured Finance Foundation has joined forces with NYU Stern Executive Education to bring a multi-faceted learning experience taught by NYU Professor, Nathan Pettit (pictured) coupled with real-world secured finance applications.
This two-day course, held in person at NYU Stern June 20-21, will introduce attendees to a variety of analytical frameworks while simultaneously modelling tactical approaches – all with the focus on developing leadership skills.
-
Daktronics, Inc. Strengthens Financial Position by Securing $100 Million In Capital Commitments
May 11, 2023
Closes $75 Million Senior Secured Credit Facility with JPMorgan Chase and $25 Million Convertible Note Investment with Major Shareholder Alta Fox Capital
-
EquipmentShare Closes $3 Billion Senior Secured Asset-Based Revolving Credit Facility With Capital One Bank and Announces the Successful Closing of Its Debut Bond Offering
May 10, 2023Goldman Sachs & Co. LLC acted as the lead book running manager, Wells Fargo Securities, Capital One Securities, Citigroup, Fifth Third Securities, J.P. Morgan, Mizuho, MUFG, SMBC Nikko and Truist Securities acted as joint book-running managers and Regions Securities LLC and UBS Investment Bank acted as co-managers for the successful private offering of the Notes.
-
Legacy Corporate Lending, New Asset-based Lending Company, Launches With Investment From Bain Capital Credit
May 10, 2023Legacy Corporate Lending (“Legacy”) a new asset-based lending (ABL) company, today announced its launch as an independent lender focused on serving the needs of middle market companies across North America. Legacy is launching with a significant equity investment from funds managed by a subsidiary of Bain Capital Credit, L.P., (“Bain Capital Credit”), a leading global credit specialist.
-
SFFound and DEI Committee Launch Second Iteration of Spring Mentorship Program
May 9, 2023The program is designed to encourage diversity and foster inclusivity by enabling established veterans in the secured finance industry and those new to their careers to build relationships and learn from one another through a virtual mentoring initiative.
-
CIT Commercial Services Announces New Appointments
May 8, 2023Tom Fingleton, who has served as Northeast regional manager since March 2019, has been named chief strategy officer. Moving into the role as Northeast regional manager is Amna Mahmood, a managing director who has served as Commercial Services’ national underwriting manager since 2019. Succeeding Mahmood in the role of national underwriting manager is Daniel Goll.
-
SFNet Member Spotlight: Sound Point Capital Management, LP
May 8, 2023Sound Point Capital Management, LP
375 Park Avenue, 33rd Floor
New York, NY 10152
www.soundpointcap.com
Sound Point Capital Management, LP is an asset management firm founded in 2008 with particular expertise in credit strategies. -
US Capital Global Launches Global M&A Division for the Emerging Growth and Middle Market Arena
-
SVB Financial Must Wait in Line for Its $2 Billion, FDIC Says
May 8, 2023Before SVB Financial Group bondholders can collect the billions they are owed, the bankrupt company may have to file a claim with the Federal Deposit Insurance Corp. to recover $2 billion worth of deposits trapped by the receivership of Silicon Valley Bank.
-
Entrepreneur Growth Capital LLC Completes $8.0 Million Credit Facility for Wholesale Distributor Company
May 4, 2023The facility includes a $4 million revolver and a $4 million term loan that will repay existing debt, support current operations and permit management to pursue several growth strategies.
-
Nonbank Lenders Take Note of Venture Lending Opportunities
May 4, 2023
As VC markets cool, more cash-starved companies are turning to venture lending to tide them over until a new equity round is possible. Lenders are taking note—but it may not be the lenders one would expect.
In this Q&A with Jennifer Post, managing partner of Thompson Coburn LLP’s Los Angeles office, she discusses if recession fears are slowing down equity markets, if start-ups are depending more on risky “uncommon players” for venture capital and other critical challenges startups face.
-
Accord Financial Adds to U.S. Business Development Team with Ira Almond and Sahil Sharma
Each is responsible for developing partnerships across a broad range of industries providing creative equipment financing solutions to middle market businesses while expanding and deepening Accord’s relationships within the independent sponsor and intermediary communities.
-
SFNet Member Spotlight: Infinity ABL Services, LLC
Infinity ABL Services, LLC
1121 Mason Ave.
Drexel Hill, PA 19026-2509
https://www.infinityabl.comInfinity ABL provides field exam services for banks and other commercial finance institutions. Infinity ABL, created in February 2021, has three partners with extensive ABL knowledge.
-
Hitting Their Stride: Secured Finance Professionals Discuss Keys to Developing Confidence
What is it about some women that makes them seem fearless and unflappable? Here, we interview three women, Phyllis Young, partner, McGuireWoods LLP; Jan Bellah chief operating officer, Pay4Freight LLC; Jennifer Cann, senior vice president and head of the Retail Finance Group Portfolio, Bank of America, N.A. with very different careers in the financial industry who seem to have figured out the key to feeling and appearing confident and effective in the workplace.
-
Interview with Melissa Mok, Director of Asset-Based Lending Originations, Truist Securities
The Women in Secured Finance e-newsletter's feature interview for this issue is with Melissa Mok, director of asset-based lending for Truist Securities. Mok joined Truist Securities in 2014. Located in Texas, she is responsible for ABL originations of mid- and large-cap companies and is currently focused on the Financial Services, Energy and Industrial Services. TMT and TME industry verticals.
-
Wingspire Capital Provides $30 Million Revolver to GTT Communications
May 2, 2023Wingspire Capital LLC (“Wingspire”) was pleased to provide a $30 million senior secured credit facility to GTT Communications (“GTT”), a global provider of managed secure networking services for large enterprise and carrier clients.
-
Citizens Leads $750 Million Credit Facility for Hexcel Corporation
May 1, 2023
Citizens is leading a $750 million senior credit facility for Stamford, CT-based Hexcel Corporation.
Founded in 1948, Hexcel is a leading advanced composites company specializing in the development, manufacturing, and marketing of lightweight, high-performance materials, including carbon fibers, reinforcements, prepregs, honeycomb, matrix systems, adhesives, and composite structures for use in commercial aerospace, space and defense, and industrial applications.
-
Vice Media Files for Bankruptcy
May 15, 2023Vice will enter into a purchasing agreement with a number of its vendors to try and stay afloat, according to a filing in New York federal court. The group, led by Fortress Investment Group, Soros Fund Management, and Monroe Capital, will purchase Vice's assets for $225 million and take on liabilities as high as $1 billion, the filing said.
-
TPG to Acquire Angelo Gordon
May 15, 2023TPG Inc. (NASDAQ: TPG), a leading global alternative asset management firm, and Angelo Gordon, a $73 billion1,2 alternative investment firm focused on credit and real estate investing, today announced that the companies have entered into a definitive agreement under which TPG will acquire Angelo Gordon in a cash and equity transaction valued at approximately $2.7 billion, based on TPG Inc.’s share price as of May 12, 2023, including an estimated $970 million in cash and up to 62.5 million common units of the TPG Operating Group and restricted stock units of TPG, in each case, subject to certain adjustments.
-
SFNet Member Spotlight: Paladin Management Group, LLC
Paladin is a middle‐market advisory firm driving value creation through consulting services. We guide middle‐market companies and their stakeholders through challenging financial, operational, and strategic transitions.
-
SFNet Partners with NYU Stern to Offer new Course - Impactful Leadership for High Potentials, Bringing a Multi-faceted Learning Experience
May 11, 2023
The Secured Finance Foundation has joined forces with NYU Stern Executive Education to bring a multi-faceted learning experience taught by NYU Professor, Nathan Pettit (pictured) coupled with real-world secured finance applications.
This two-day course, held in person at NYU Stern June 20-21, will introduce attendees to a variety of analytical frameworks while simultaneously modelling tactical approaches – all with the focus on developing leadership skills.
-
Daktronics, Inc. Strengthens Financial Position by Securing $100 Million In Capital Commitments
May 11, 2023
Closes $75 Million Senior Secured Credit Facility with JPMorgan Chase and $25 Million Convertible Note Investment with Major Shareholder Alta Fox Capital
-
EquipmentShare Closes $3 Billion Senior Secured Asset-Based Revolving Credit Facility With Capital One Bank and Announces the Successful Closing of Its Debut Bond Offering
May 10, 2023Goldman Sachs & Co. LLC acted as the lead book running manager, Wells Fargo Securities, Capital One Securities, Citigroup, Fifth Third Securities, J.P. Morgan, Mizuho, MUFG, SMBC Nikko and Truist Securities acted as joint book-running managers and Regions Securities LLC and UBS Investment Bank acted as co-managers for the successful private offering of the Notes.
-
Legacy Corporate Lending, New Asset-based Lending Company, Launches With Investment From Bain Capital Credit
May 10, 2023Legacy Corporate Lending (“Legacy”) a new asset-based lending (ABL) company, today announced its launch as an independent lender focused on serving the needs of middle market companies across North America. Legacy is launching with a significant equity investment from funds managed by a subsidiary of Bain Capital Credit, L.P., (“Bain Capital Credit”), a leading global credit specialist.
-
SFFound and DEI Committee Launch Second Iteration of Spring Mentorship Program
May 9, 2023The program is designed to encourage diversity and foster inclusivity by enabling established veterans in the secured finance industry and those new to their careers to build relationships and learn from one another through a virtual mentoring initiative.
-
CIT Commercial Services Announces New Appointments
May 8, 2023Tom Fingleton, who has served as Northeast regional manager since March 2019, has been named chief strategy officer. Moving into the role as Northeast regional manager is Amna Mahmood, a managing director who has served as Commercial Services’ national underwriting manager since 2019. Succeeding Mahmood in the role of national underwriting manager is Daniel Goll.
-
SFNet Member Spotlight: Sound Point Capital Management, LP
May 8, 2023Sound Point Capital Management, LP
375 Park Avenue, 33rd Floor
New York, NY 10152
www.soundpointcap.com
Sound Point Capital Management, LP is an asset management firm founded in 2008 with particular expertise in credit strategies. -
US Capital Global Launches Global M&A Division for the Emerging Growth and Middle Market Arena
-
SVB Financial Must Wait in Line for Its $2 Billion, FDIC Says
May 8, 2023Before SVB Financial Group bondholders can collect the billions they are owed, the bankrupt company may have to file a claim with the Federal Deposit Insurance Corp. to recover $2 billion worth of deposits trapped by the receivership of Silicon Valley Bank.
-
Entrepreneur Growth Capital LLC Completes $8.0 Million Credit Facility for Wholesale Distributor Company
May 4, 2023The facility includes a $4 million revolver and a $4 million term loan that will repay existing debt, support current operations and permit management to pursue several growth strategies.
-
Nonbank Lenders Take Note of Venture Lending Opportunities
May 4, 2023
As VC markets cool, more cash-starved companies are turning to venture lending to tide them over until a new equity round is possible. Lenders are taking note—but it may not be the lenders one would expect.
In this Q&A with Jennifer Post, managing partner of Thompson Coburn LLP’s Los Angeles office, she discusses if recession fears are slowing down equity markets, if start-ups are depending more on risky “uncommon players” for venture capital and other critical challenges startups face.
-
Accord Financial Adds to U.S. Business Development Team with Ira Almond and Sahil Sharma
Each is responsible for developing partnerships across a broad range of industries providing creative equipment financing solutions to middle market businesses while expanding and deepening Accord’s relationships within the independent sponsor and intermediary communities.
-
SFNet Member Spotlight: Infinity ABL Services, LLC
Infinity ABL Services, LLC
1121 Mason Ave.
Drexel Hill, PA 19026-2509
https://www.infinityabl.comInfinity ABL provides field exam services for banks and other commercial finance institutions. Infinity ABL, created in February 2021, has three partners with extensive ABL knowledge.
-
Hitting Their Stride: Secured Finance Professionals Discuss Keys to Developing Confidence
What is it about some women that makes them seem fearless and unflappable? Here, we interview three women, Phyllis Young, partner, McGuireWoods LLP; Jan Bellah chief operating officer, Pay4Freight LLC; Jennifer Cann, senior vice president and head of the Retail Finance Group Portfolio, Bank of America, N.A. with very different careers in the financial industry who seem to have figured out the key to feeling and appearing confident and effective in the workplace.
-
Interview with Melissa Mok, Director of Asset-Based Lending Originations, Truist Securities
The Women in Secured Finance e-newsletter's feature interview for this issue is with Melissa Mok, director of asset-based lending for Truist Securities. Mok joined Truist Securities in 2014. Located in Texas, she is responsible for ABL originations of mid- and large-cap companies and is currently focused on the Financial Services, Energy and Industrial Services. TMT and TME industry verticals.
-
Wingspire Capital Provides $30 Million Revolver to GTT Communications
May 2, 2023Wingspire Capital LLC (“Wingspire”) was pleased to provide a $30 million senior secured credit facility to GTT Communications (“GTT”), a global provider of managed secure networking services for large enterprise and carrier clients.
-
Citizens Leads $750 Million Credit Facility for Hexcel Corporation
May 1, 2023
Citizens is leading a $750 million senior credit facility for Stamford, CT-based Hexcel Corporation.
Founded in 1948, Hexcel is a leading advanced composites company specializing in the development, manufacturing, and marketing of lightweight, high-performance materials, including carbon fibers, reinforcements, prepregs, honeycomb, matrix systems, adhesives, and composite structures for use in commercial aerospace, space and defense, and industrial applications.