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SFNet Announces New Safety Protocols for In-Person Events
Dec 21, 2021SFNet is monitoring the rapidly changing public health situation and is committed to working toward providing a safe and productive environment as we continue our return to in-person events. In line with many of our members’ policies, we will be taking additional measures at the upcoming Asset-Based Capital Conference in February.
-
Advocacy Alert: "Stop Wall Street Looting Act of 2021"
Certainly, many people have heard about the “Stop Wall Street Looting Act of 2021”, the dramatically titled shot at the private equity business publicized by Massachusetts Senator Elizabeth Warren, introduced in the House and the Senate on October 20, 2021. Given so many other major (and controversial) legislative initiatives, the bill does not seem to be gaining much traction—for now. At the same time, while the secured lending industry makes a lot of loans to businesses owned by private equity firms, the headlines around the proposed legislation do not suggest any direct impact on secured lenders. The bill certainly addresses matters relating to the private equity industry, with sections titled “Closing the Carried Interest Loophole”, “Restrictions on Securitizing Risky Corporate Debt” and other provocative terms, like “Anti-Looting” and includes sections providing for limitations on post-acquisition dividends and distributions as part of a reworking of basic principles of corporate law. -
Citizens Leads $1.2 Billion Asset-Based Senior Credit Facilities for PRO Unlimited
Dec 20, 2021
Citizens announced today that it has provided financing to San Francisco-based PRO Unlimited Global Solutions Inc.
Established in 1991, PRO Unlimited is a leading provider of end-to-end contingent workforce management solutions to a broad range of global clients and has been a Citizens client for more than 10 years.
The first financing was new $900 million asset-based senior credit facilities, comprised of an $825 million asset-based revolving credit facility and a $75 million First In, Last Out (“FILO”) tranche, to support EQT Private Equity’s acquisition of the company from Harvest Partners, LP and its affiliates and Investcorp.
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Interview with Andrea Pipitone Beirne, Member of SFNet’s Diversity, Equity & Inclusiveness Committee
Dec 16, 2021Andrea Pipitone Beirne is a partner at KPMG in the Deal Advisory and Strategy in Chicago. She specializes in due diligence for lenders related to asset-based and asset-backed transactions. Prior to joining KPMG, Andrea was at Arthur Andersen where she was in the Audit and Advisory groups. Andrea works on international and domestic deals in a number of industries, such as manufacturing, distribution, retail, services, technology and healthcare. Her experience, background and team that has been built over her 28-year career in consulting has made her a trusted business advisor to many financial institutions. Andrea graduated from DePaul University with a Bachelor of Science in Accountancy.
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First Eagle Alternative Credit closes with The Jessica Simpson Lifestyle Brand
Dec 17, 2021The Jessica Simpson Collection announced today that Jessica Simpson and her business partner/mother Tina Simpson have re-purchased and now fully own the The Jessica Simpson Collection.
Jessica and Tina self-financed the purchase with additional funds provided by First Eagle Alternative Credit and WhiteHawk Capital. “First Eagle Alternative Credit is excited to be part of the financing and looks forward to supporting the Company’s strategic growth,” said Larry Klaff, Senior Managing Director for First Eagle Alternative Credit. -
Clarus Capital, a New Commercial Finance Company, Launches with $300 Million Commitment from BharCap Partners
Dec 15, 2021Clarus Capital ("Clarus") announced today that it has launched as a new commercial finance company focused on delivering efficient capital solutions to finance tangible assets for leveraged middle market companies. Clarus offers lease and loan products with various end-of-term options to finance the acquisition of a wide range of revenue generating and essential use equipment types. The company provides financing solutions to meet customers' needs for planned capital expenditures.
Clarus Capital was founded by Steve O'Leary, Tim Conway, and Michael Eisenstein who will serve as Chief Executive Officer, Chairman and Chief Financial Officer, respectively.
-
Trends of 2021 Are Here to Stay: Inflation, Labor Issues, Commodity Price Changes, Supply Chain
Dec 15, 2021As companies and lenders evaluate performance risk and expectations for 2022, the trends previously considered to be emerging need to be considered a permanent part of the 2022 business environment. At this point, it is unrealistic to consider inflation transitory, or to believe there is a magic switch that will eliminate labor and supply chain issues.
-
Tiger Finance Provides $17 Million Credit Facility to Industrial Real Estate Firm
Dec 14, 2021
Tiger Finance has closed on $17 million in growth financing for an East Coast industrial real estate investment and development firm.
Over the past five years, the company has acquired more than $400 million in Class A to C industrial assets—with an emphasis on distribution and fulfillment centers--boosting its portfolio of owned and managed space to nearly 5 million square feet. The new loan from Tiger Finance will be used for the acquisition and redevelopment of a 560,000-square-foot, Class B, two-building industrial property in the Mid-Atlantic region.
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Callodine Group Announces Acquisition of Thorofare Capital
Dec 14, 2021Callodine Group (“Callodine”), an asset management firm focused on yield-oriented investment strategies, today announced that it has entered into a definitive agreement to acquire a majority stake in Thorofare Capital (“Thorofare”). Thorofare is a leading real estate investment firm, managing over $1 billion in assets under management (“AUM”), with offices in Los Angeles, New York, Miami and Dallas.
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Tim Burniston, Senior Advisor, Regulatory Strategy for Wolters Kluwer Compliance Solutions Discusses Wolters Kluwer’s Regulatory & Risk Management Indicator Survey
TSL Express’ senior editor sat down with Tim Burniston, senior advisor, Regulatory Strategy for Wolters Kluwer Compliance Solutions to discuss Wolters Kluwer’s Regulatory & Risk Management Indicator survey. Burniston joined Wolters Kluwer in December 2011 to lead Compliance Solutions’ Risk and Compliance consulting practice. Under his leadership, the practice grew significantly in scope and has built on an international reputation for excellence. In July 2017 he was named senior advisor for regulatory strategy.
This year’s Regulatory & Risk Management Indicator Survey was conducted between August 4 and September 6, 2021, with 391 responses received. Respondents are primarily from bank management/executive and compliance roles with strong representation from those in lending functions.
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CIFC To Acquire LBC Credit Partners
Dec 13, 2021CIFC Asset Management LLC (“CIFC”), an alternative credit specialist serving institutional investors globally with more than $35 billion in assets under management, today announced that it has entered into an agreement to acquire LBC Credit Partners (“LBC”), a leading middle market direct lending platform. CIFC’s acquisition of LBC follows a series of positive developments for the firm, which in 2021 grew its assets by more than $5 billion.
-
An Interview with Doug Winget, Executive Vice President, Huntington National Bank and President, Huntington Business Credit
Dec 13, 2021In this installment of our series of executive interviews, Charlie Perer sits with Doug Winget to discuss Huntington Business Credit’s national expansion, vertical industry specialization and state of the market, among other things. -
Phoenix Lending Survey Results Reveals Supply Chain Constraints to be Biggest Concern for the U.S. Economy
Dec 9, 2021
From the fourth quarter Phoenix Management “Lending Climate in America” survey results reveals supply chain constraints are the biggest concern for the U.S economy as we enter 2022.
Phoenix’s Q4 2021 “Lending Climate in America” survey asked lenders what they expect to be the biggest challenge for borrowers heading into 2022. Half of the lenders surveyed, 50%, believe supply chain constraints will be the biggest challenge that borrowers will face heading into 2022. Of the lenders surveyed, forty-three percent cited labor costs as a concern, while none predicted COVID-19-related constraints to be a challenge.
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Confidence in Asset-Based Lending Holds Steady
Dec 8, 2021Confidence in the asset-based lending market held steady in the third quarter as banks and other lenders kept a close eye on the bigger economic picture, according to data released by the Secured Finance Network (SFNet).
SFNet surveyed bank and non-bank asset-based lenders (ABLs) on key indicators for its quarterly Asset-Based Lending Index and SFNet Confidence Index. -
Interview with SFNet President Peter B. York
Dec 7, 2021Peter York is managing director and head of the Asset Based Lending (ABL) practice for the Corporate & Investment Bank of J.P. Morgan. He has been with J.P. Morgan for over 17 years and has more than 27 years of secured ABL experience. York’s strengths include large multibank syndicated financing, cross-border structuring, leveraged buyout finance, and bankruptcy and debtor-in-possession (DIP) financing.
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Huntington Business Credit Provides $25 Million for Ames Copper Group, LLC
Dec 7, 2021
Huntington Business Credit announced it closed a new $25,000,000 credit facility with Ames Copper Group, LLC on November 19, 2021. Proceeds of the facility were used to finance start-up expenses and to provide ongoing working capital growth financing.
Ames Copper Group, LLC, located in Shelby, North Carolina, is a start-up copper smelter producing copper cathode primarily used in the production of copper wire and rod.
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eCapital Provides a $6 Million Asset Based Lending Facility for Agriculture Supply Company
Dec 6, 2021eCapital Commercial Finance’s (“eCapital”) Asset Based Lending division, today announced the issuance of a $6 million asset based line to a Florida-based agriculture supply company servicing both retail and wholesale clients. The company selected eCapital for its competitive rate, flexible structure and ability to provide fast access to working capital.
-
SFNet Releases its Latest Market Pulse Report
Dec 6, 2021
SFNet is pleased to present the latest SFNet Market Pulse, a periodic report that informs lenders about emerging economic trends likely to affect secured lending and their borrowers’ industries over the next one to two quarters.
-
Golub Capital Acts as Administrative Agent and Joint Lead Arranger on $1 Billion Multi-Currency Financing to Support the Merger of 2020 Technologies and Compusoft
Dec 2, 2021Golub Capital acted as Administrative Agent and Joint Lead Arranger on a $1 billion GOLD facility to finance the merger of 2020 Technologies ("2020") and Compusoft by Genstar Capital and TA Associates. GOLD financings are Golub Capital One-Loan Debt facilities. The GOLD facility was funded using a combination of U.S. dollars, Canadian dollars, British pounds sterling and eurodollars.
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Interview with Candice Hubert, Member of SFNet’s Diversity, Equity & Inclusiveness Committee
Dec 2, 2021Representing Republic Business Credit in the Texas market out of an expanding Houston office, Candice brings more than 18 years of banking and commercial finance experience. Candice joined Republic in 2012, after a long tenure with Chase Bank providing asset-based lending solutions to a multitude of industries. Candice has been able to assist clients in start-up, high-growth, and recoverable distressed situations and values the opportunity to work with industry partners across the United States. She is a member of the Houston Chapter for the Secured Finance Network, Association for Corporate Growth, and a member of Turnaround Management Association. In 2018, Candice was a proud recipient of the Secured Finance Network's 40 Under 40 Award and continues to serve as an advocate for SFNet programs by participating in business development panel discussions and has been featured in past SFNet informative articles.
-
SFNet Announces New Safety Protocols for In-Person Events
Dec 21, 2021SFNet is monitoring the rapidly changing public health situation and is committed to working toward providing a safe and productive environment as we continue our return to in-person events. In line with many of our members’ policies, we will be taking additional measures at the upcoming Asset-Based Capital Conference in February.
-
Advocacy Alert: "Stop Wall Street Looting Act of 2021"
Certainly, many people have heard about the “Stop Wall Street Looting Act of 2021”, the dramatically titled shot at the private equity business publicized by Massachusetts Senator Elizabeth Warren, introduced in the House and the Senate on October 20, 2021. Given so many other major (and controversial) legislative initiatives, the bill does not seem to be gaining much traction—for now. At the same time, while the secured lending industry makes a lot of loans to businesses owned by private equity firms, the headlines around the proposed legislation do not suggest any direct impact on secured lenders. The bill certainly addresses matters relating to the private equity industry, with sections titled “Closing the Carried Interest Loophole”, “Restrictions on Securitizing Risky Corporate Debt” and other provocative terms, like “Anti-Looting” and includes sections providing for limitations on post-acquisition dividends and distributions as part of a reworking of basic principles of corporate law.
-
Citizens Leads $1.2 Billion Asset-Based Senior Credit Facilities for PRO Unlimited
Dec 20, 2021
Citizens announced today that it has provided financing to San Francisco-based PRO Unlimited Global Solutions Inc.
Established in 1991, PRO Unlimited is a leading provider of end-to-end contingent workforce management solutions to a broad range of global clients and has been a Citizens client for more than 10 years.
The first financing was new $900 million asset-based senior credit facilities, comprised of an $825 million asset-based revolving credit facility and a $75 million First In, Last Out (“FILO”) tranche, to support EQT Private Equity’s acquisition of the company from Harvest Partners, LP and its affiliates and Investcorp.
-
Interview with Andrea Pipitone Beirne, Member of SFNet’s Diversity, Equity & Inclusiveness Committee
Dec 16, 2021
Andrea Pipitone Beirne is a partner at KPMG in the Deal Advisory and Strategy in Chicago. She specializes in due diligence for lenders related to asset-based and asset-backed transactions. Prior to joining KPMG, Andrea was at Arthur Andersen where she was in the Audit and Advisory groups. Andrea works on international and domestic deals in a number of industries, such as manufacturing, distribution, retail, services, technology and healthcare. Her experience, background and team that has been built over her 28-year career in consulting has made her a trusted business advisor to many financial institutions. Andrea graduated from DePaul University with a Bachelor of Science in Accountancy.
-
First Eagle Alternative Credit closes with The Jessica Simpson Lifestyle Brand
Dec 17, 2021The Jessica Simpson Collection announced today that Jessica Simpson and her business partner/mother Tina Simpson have re-purchased and now fully own the The Jessica Simpson Collection.
Jessica and Tina self-financed the purchase with additional funds provided by First Eagle Alternative Credit and WhiteHawk Capital. “First Eagle Alternative Credit is excited to be part of the financing and looks forward to supporting the Company’s strategic growth,” said Larry Klaff, Senior Managing Director for First Eagle Alternative Credit. -
Clarus Capital, a New Commercial Finance Company, Launches with $300 Million Commitment from BharCap Partners
Dec 15, 2021Clarus Capital ("Clarus") announced today that it has launched as a new commercial finance company focused on delivering efficient capital solutions to finance tangible assets for leveraged middle market companies. Clarus offers lease and loan products with various end-of-term options to finance the acquisition of a wide range of revenue generating and essential use equipment types. The company provides financing solutions to meet customers' needs for planned capital expenditures.
Clarus Capital was founded by Steve O'Leary, Tim Conway, and Michael Eisenstein who will serve as Chief Executive Officer, Chairman and Chief Financial Officer, respectively.
-
Trends of 2021 Are Here to Stay: Inflation, Labor Issues, Commodity Price Changes, Supply Chain
Dec 15, 2021
As companies and lenders evaluate performance risk and expectations for 2022, the trends previously considered to be emerging need to be considered a permanent part of the 2022 business environment. At this point, it is unrealistic to consider inflation transitory, or to believe there is a magic switch that will eliminate labor and supply chain issues.
-
Tiger Finance Provides $17 Million Credit Facility to Industrial Real Estate Firm
Dec 14, 2021
Tiger Finance has closed on $17 million in growth financing for an East Coast industrial real estate investment and development firm.
Over the past five years, the company has acquired more than $400 million in Class A to C industrial assets—with an emphasis on distribution and fulfillment centers--boosting its portfolio of owned and managed space to nearly 5 million square feet. The new loan from Tiger Finance will be used for the acquisition and redevelopment of a 560,000-square-foot, Class B, two-building industrial property in the Mid-Atlantic region.
-
Callodine Group Announces Acquisition of Thorofare Capital
Dec 14, 2021Callodine Group (“Callodine”), an asset management firm focused on yield-oriented investment strategies, today announced that it has entered into a definitive agreement to acquire a majority stake in Thorofare Capital (“Thorofare”). Thorofare is a leading real estate investment firm, managing over $1 billion in assets under management (“AUM”), with offices in Los Angeles, New York, Miami and Dallas.
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Tim Burniston, Senior Advisor, Regulatory Strategy for Wolters Kluwer Compliance Solutions Discusses Wolters Kluwer’s Regulatory & Risk Management Indicator Survey
TSL Express’ senior editor sat down with Tim Burniston, senior advisor, Regulatory Strategy for Wolters Kluwer Compliance Solutions to discuss Wolters Kluwer’s Regulatory & Risk Management Indicator survey. Burniston joined Wolters Kluwer in December 2011 to lead Compliance Solutions’ Risk and Compliance consulting practice. Under his leadership, the practice grew significantly in scope and has built on an international reputation for excellence. In July 2017 he was named senior advisor for regulatory strategy.
This year’s Regulatory & Risk Management Indicator Survey was conducted between August 4 and September 6, 2021, with 391 responses received. Respondents are primarily from bank management/executive and compliance roles with strong representation from those in lending functions.
-
CIFC To Acquire LBC Credit Partners
Dec 13, 2021CIFC Asset Management LLC (“CIFC”), an alternative credit specialist serving institutional investors globally with more than $35 billion in assets under management, today announced that it has entered into an agreement to acquire LBC Credit Partners (“LBC”), a leading middle market direct lending platform. CIFC’s acquisition of LBC follows a series of positive developments for the firm, which in 2021 grew its assets by more than $5 billion.
-
An Interview with Doug Winget, Executive Vice President, Huntington National Bank and President, Huntington Business Credit
Dec 13, 2021In this installment of our series of executive interviews, Charlie Perer sits with Doug Winget to discuss Huntington Business Credit’s national expansion, vertical industry specialization and state of the market, among other things.
-
Phoenix Lending Survey Results Reveals Supply Chain Constraints to be Biggest Concern for the U.S. Economy
Dec 9, 2021
From the fourth quarter Phoenix Management “Lending Climate in America” survey results reveals supply chain constraints are the biggest concern for the U.S economy as we enter 2022.
Phoenix’s Q4 2021 “Lending Climate in America” survey asked lenders what they expect to be the biggest challenge for borrowers heading into 2022. Half of the lenders surveyed, 50%, believe supply chain constraints will be the biggest challenge that borrowers will face heading into 2022. Of the lenders surveyed, forty-three percent cited labor costs as a concern, while none predicted COVID-19-related constraints to be a challenge.
-
Confidence in Asset-Based Lending Holds Steady
Dec 8, 2021Confidence in the asset-based lending market held steady in the third quarter as banks and other lenders kept a close eye on the bigger economic picture, according to data released by the Secured Finance Network (SFNet).
SFNet surveyed bank and non-bank asset-based lenders (ABLs) on key indicators for its quarterly Asset-Based Lending Index and SFNet Confidence Index. -
Interview with SFNet President Peter B. York
Dec 7, 2021
Peter York is managing director and head of the Asset Based Lending (ABL) practice for the Corporate & Investment Bank of J.P. Morgan. He has been with J.P. Morgan for over 17 years and has more than 27 years of secured ABL experience. York’s strengths include large multibank syndicated financing, cross-border structuring, leveraged buyout finance, and bankruptcy and debtor-in-possession (DIP) financing.
-
Huntington Business Credit Provides $25 Million for Ames Copper Group, LLC
Dec 7, 2021
Huntington Business Credit announced it closed a new $25,000,000 credit facility with Ames Copper Group, LLC on November 19, 2021. Proceeds of the facility were used to finance start-up expenses and to provide ongoing working capital growth financing.
Ames Copper Group, LLC, located in Shelby, North Carolina, is a start-up copper smelter producing copper cathode primarily used in the production of copper wire and rod.
-
eCapital Provides a $6 Million Asset Based Lending Facility for Agriculture Supply Company
Dec 6, 2021eCapital Commercial Finance’s (“eCapital”) Asset Based Lending division, today announced the issuance of a $6 million asset based line to a Florida-based agriculture supply company servicing both retail and wholesale clients. The company selected eCapital for its competitive rate, flexible structure and ability to provide fast access to working capital.
-
SFNet Releases its Latest Market Pulse Report
Dec 6, 2021
SFNet is pleased to present the latest SFNet Market Pulse, a periodic report that informs lenders about emerging economic trends likely to affect secured lending and their borrowers’ industries over the next one to two quarters.
-
Golub Capital Acts as Administrative Agent and Joint Lead Arranger on $1 Billion Multi-Currency Financing to Support the Merger of 2020 Technologies and Compusoft
Dec 2, 2021Golub Capital acted as Administrative Agent and Joint Lead Arranger on a $1 billion GOLD facility to finance the merger of 2020 Technologies ("2020") and Compusoft by Genstar Capital and TA Associates. GOLD financings are Golub Capital One-Loan Debt facilities. The GOLD facility was funded using a combination of U.S. dollars, Canadian dollars, British pounds sterling and eurodollars.
-
Interview with Candice Hubert, Member of SFNet’s Diversity, Equity & Inclusiveness Committee
Dec 2, 2021Representing Republic Business Credit in the Texas market out of an expanding Houston office, Candice brings more than 18 years of banking and commercial finance experience. Candice joined Republic in 2012, after a long tenure with Chase Bank providing asset-based lending solutions to a multitude of industries. Candice has been able to assist clients in start-up, high-growth, and recoverable distressed situations and values the opportunity to work with industry partners across the United States. She is a member of the Houston Chapter for the Secured Finance Network, Association for Corporate Growth, and a member of Turnaround Management Association. In 2018, Candice was a proud recipient of the Secured Finance Network's 40 Under 40 Award and continues to serve as an advocate for SFNet programs by participating in business development panel discussions and has been featured in past SFNet informative articles.
-
SFNet Announces New Safety Protocols for In-Person Events
Dec 21, 2021SFNet is monitoring the rapidly changing public health situation and is committed to working toward providing a safe and productive environment as we continue our return to in-person events. In line with many of our members’ policies, we will be taking additional measures at the upcoming Asset-Based Capital Conference in February.
-
Advocacy Alert: "Stop Wall Street Looting Act of 2021"
Certainly, many people have heard about the “Stop Wall Street Looting Act of 2021”, the dramatically titled shot at the private equity business publicized by Massachusetts Senator Elizabeth Warren, introduced in the House and the Senate on October 20, 2021. Given so many other major (and controversial) legislative initiatives, the bill does not seem to be gaining much traction—for now. At the same time, while the secured lending industry makes a lot of loans to businesses owned by private equity firms, the headlines around the proposed legislation do not suggest any direct impact on secured lenders. The bill certainly addresses matters relating to the private equity industry, with sections titled “Closing the Carried Interest Loophole”, “Restrictions on Securitizing Risky Corporate Debt” and other provocative terms, like “Anti-Looting” and includes sections providing for limitations on post-acquisition dividends and distributions as part of a reworking of basic principles of corporate law.
-
Citizens Leads $1.2 Billion Asset-Based Senior Credit Facilities for PRO Unlimited
Dec 20, 2021
Citizens announced today that it has provided financing to San Francisco-based PRO Unlimited Global Solutions Inc.
Established in 1991, PRO Unlimited is a leading provider of end-to-end contingent workforce management solutions to a broad range of global clients and has been a Citizens client for more than 10 years.
The first financing was new $900 million asset-based senior credit facilities, comprised of an $825 million asset-based revolving credit facility and a $75 million First In, Last Out (“FILO”) tranche, to support EQT Private Equity’s acquisition of the company from Harvest Partners, LP and its affiliates and Investcorp.
-
Interview with Andrea Pipitone Beirne, Member of SFNet’s Diversity, Equity & Inclusiveness Committee
Dec 16, 2021
Andrea Pipitone Beirne is a partner at KPMG in the Deal Advisory and Strategy in Chicago. She specializes in due diligence for lenders related to asset-based and asset-backed transactions. Prior to joining KPMG, Andrea was at Arthur Andersen where she was in the Audit and Advisory groups. Andrea works on international and domestic deals in a number of industries, such as manufacturing, distribution, retail, services, technology and healthcare. Her experience, background and team that has been built over her 28-year career in consulting has made her a trusted business advisor to many financial institutions. Andrea graduated from DePaul University with a Bachelor of Science in Accountancy.
-
First Eagle Alternative Credit closes with The Jessica Simpson Lifestyle Brand
Dec 17, 2021The Jessica Simpson Collection announced today that Jessica Simpson and her business partner/mother Tina Simpson have re-purchased and now fully own the The Jessica Simpson Collection.
Jessica and Tina self-financed the purchase with additional funds provided by First Eagle Alternative Credit and WhiteHawk Capital. “First Eagle Alternative Credit is excited to be part of the financing and looks forward to supporting the Company’s strategic growth,” said Larry Klaff, Senior Managing Director for First Eagle Alternative Credit. -
Clarus Capital, a New Commercial Finance Company, Launches with $300 Million Commitment from BharCap Partners
Dec 15, 2021Clarus Capital ("Clarus") announced today that it has launched as a new commercial finance company focused on delivering efficient capital solutions to finance tangible assets for leveraged middle market companies. Clarus offers lease and loan products with various end-of-term options to finance the acquisition of a wide range of revenue generating and essential use equipment types. The company provides financing solutions to meet customers' needs for planned capital expenditures.
Clarus Capital was founded by Steve O'Leary, Tim Conway, and Michael Eisenstein who will serve as Chief Executive Officer, Chairman and Chief Financial Officer, respectively.
-
Trends of 2021 Are Here to Stay: Inflation, Labor Issues, Commodity Price Changes, Supply Chain
Dec 15, 2021
As companies and lenders evaluate performance risk and expectations for 2022, the trends previously considered to be emerging need to be considered a permanent part of the 2022 business environment. At this point, it is unrealistic to consider inflation transitory, or to believe there is a magic switch that will eliminate labor and supply chain issues.
-
Tiger Finance Provides $17 Million Credit Facility to Industrial Real Estate Firm
Dec 14, 2021
Tiger Finance has closed on $17 million in growth financing for an East Coast industrial real estate investment and development firm.
Over the past five years, the company has acquired more than $400 million in Class A to C industrial assets—with an emphasis on distribution and fulfillment centers--boosting its portfolio of owned and managed space to nearly 5 million square feet. The new loan from Tiger Finance will be used for the acquisition and redevelopment of a 560,000-square-foot, Class B, two-building industrial property in the Mid-Atlantic region.
-
Callodine Group Announces Acquisition of Thorofare Capital
Dec 14, 2021Callodine Group (“Callodine”), an asset management firm focused on yield-oriented investment strategies, today announced that it has entered into a definitive agreement to acquire a majority stake in Thorofare Capital (“Thorofare”). Thorofare is a leading real estate investment firm, managing over $1 billion in assets under management (“AUM”), with offices in Los Angeles, New York, Miami and Dallas.
-
Tim Burniston, Senior Advisor, Regulatory Strategy for Wolters Kluwer Compliance Solutions Discusses Wolters Kluwer’s Regulatory & Risk Management Indicator Survey
TSL Express’ senior editor sat down with Tim Burniston, senior advisor, Regulatory Strategy for Wolters Kluwer Compliance Solutions to discuss Wolters Kluwer’s Regulatory & Risk Management Indicator survey. Burniston joined Wolters Kluwer in December 2011 to lead Compliance Solutions’ Risk and Compliance consulting practice. Under his leadership, the practice grew significantly in scope and has built on an international reputation for excellence. In July 2017 he was named senior advisor for regulatory strategy.
This year’s Regulatory & Risk Management Indicator Survey was conducted between August 4 and September 6, 2021, with 391 responses received. Respondents are primarily from bank management/executive and compliance roles with strong representation from those in lending functions.
-
CIFC To Acquire LBC Credit Partners
Dec 13, 2021CIFC Asset Management LLC (“CIFC”), an alternative credit specialist serving institutional investors globally with more than $35 billion in assets under management, today announced that it has entered into an agreement to acquire LBC Credit Partners (“LBC”), a leading middle market direct lending platform. CIFC’s acquisition of LBC follows a series of positive developments for the firm, which in 2021 grew its assets by more than $5 billion.
-
An Interview with Doug Winget, Executive Vice President, Huntington National Bank and President, Huntington Business Credit
Dec 13, 2021In this installment of our series of executive interviews, Charlie Perer sits with Doug Winget to discuss Huntington Business Credit’s national expansion, vertical industry specialization and state of the market, among other things.
-
Phoenix Lending Survey Results Reveals Supply Chain Constraints to be Biggest Concern for the U.S. Economy
Dec 9, 2021
From the fourth quarter Phoenix Management “Lending Climate in America” survey results reveals supply chain constraints are the biggest concern for the U.S economy as we enter 2022.
Phoenix’s Q4 2021 “Lending Climate in America” survey asked lenders what they expect to be the biggest challenge for borrowers heading into 2022. Half of the lenders surveyed, 50%, believe supply chain constraints will be the biggest challenge that borrowers will face heading into 2022. Of the lenders surveyed, forty-three percent cited labor costs as a concern, while none predicted COVID-19-related constraints to be a challenge.
-
Confidence in Asset-Based Lending Holds Steady
Dec 8, 2021Confidence in the asset-based lending market held steady in the third quarter as banks and other lenders kept a close eye on the bigger economic picture, according to data released by the Secured Finance Network (SFNet).
SFNet surveyed bank and non-bank asset-based lenders (ABLs) on key indicators for its quarterly Asset-Based Lending Index and SFNet Confidence Index. -
Interview with SFNet President Peter B. York
Dec 7, 2021
Peter York is managing director and head of the Asset Based Lending (ABL) practice for the Corporate & Investment Bank of J.P. Morgan. He has been with J.P. Morgan for over 17 years and has more than 27 years of secured ABL experience. York’s strengths include large multibank syndicated financing, cross-border structuring, leveraged buyout finance, and bankruptcy and debtor-in-possession (DIP) financing.
-
Huntington Business Credit Provides $25 Million for Ames Copper Group, LLC
Dec 7, 2021
Huntington Business Credit announced it closed a new $25,000,000 credit facility with Ames Copper Group, LLC on November 19, 2021. Proceeds of the facility were used to finance start-up expenses and to provide ongoing working capital growth financing.
Ames Copper Group, LLC, located in Shelby, North Carolina, is a start-up copper smelter producing copper cathode primarily used in the production of copper wire and rod.
-
eCapital Provides a $6 Million Asset Based Lending Facility for Agriculture Supply Company
Dec 6, 2021eCapital Commercial Finance’s (“eCapital”) Asset Based Lending division, today announced the issuance of a $6 million asset based line to a Florida-based agriculture supply company servicing both retail and wholesale clients. The company selected eCapital for its competitive rate, flexible structure and ability to provide fast access to working capital.
-
SFNet Releases its Latest Market Pulse Report
Dec 6, 2021
SFNet is pleased to present the latest SFNet Market Pulse, a periodic report that informs lenders about emerging economic trends likely to affect secured lending and their borrowers’ industries over the next one to two quarters.
-
Golub Capital Acts as Administrative Agent and Joint Lead Arranger on $1 Billion Multi-Currency Financing to Support the Merger of 2020 Technologies and Compusoft
Dec 2, 2021Golub Capital acted as Administrative Agent and Joint Lead Arranger on a $1 billion GOLD facility to finance the merger of 2020 Technologies ("2020") and Compusoft by Genstar Capital and TA Associates. GOLD financings are Golub Capital One-Loan Debt facilities. The GOLD facility was funded using a combination of U.S. dollars, Canadian dollars, British pounds sterling and eurodollars.
-
Interview with Candice Hubert, Member of SFNet’s Diversity, Equity & Inclusiveness Committee
Dec 2, 2021Representing Republic Business Credit in the Texas market out of an expanding Houston office, Candice brings more than 18 years of banking and commercial finance experience. Candice joined Republic in 2012, after a long tenure with Chase Bank providing asset-based lending solutions to a multitude of industries. Candice has been able to assist clients in start-up, high-growth, and recoverable distressed situations and values the opportunity to work with industry partners across the United States. She is a member of the Houston Chapter for the Secured Finance Network, Association for Corporate Growth, and a member of Turnaround Management Association. In 2018, Candice was a proud recipient of the Secured Finance Network's 40 Under 40 Award and continues to serve as an advocate for SFNet programs by participating in business development panel discussions and has been featured in past SFNet informative articles.