White Oak Commercial Finance Expands Asset-Based Lending and Lender Finance Team with New Hires
By White Oak Commercial Finance
White Oak Commercial Finance (“WOCF”), an affiliate of San Francisco-based alternative investment manager White Oak Global Advisors, LLC (“White Oak”), today announced Andy McGhee, Susan Hall and Neal Mulford have joined the firm to further expand its asset-based lending (ABL) and lender finance capabilities. Andy, Susan and Neal together bring over 100 years of combined experience to WOCF, after most recently originating, deploying and managing a multi-billion dollar ABL portfolio at AloStar Capital Finance. All three are based in Atlanta, GA and will report to the WOCF Board.
Andy McGhee joins WOCF as Vice Chairman and will lead its Lender Finance division while assisting with the growth of the broader ABL initiatives for WOCF. Andy previously served as Founder, President and CEO of AloStar Capital Finance. He has over 30 years of commercial banking and asset-based financing experience, having held senior leadership roles at SunTrust Bank, Bank of America and Citicorp prior to joining AloStar.
Susan Hall joins as Chief Portfolio Officer and will lead the integration of portfolio reporting across all White Oak ABL platforms. Susan previously served in senior leadership roles at AloStar Capital Finance, SunTrust Bank, GE Capital, Citicorp and Transamerica.
Neal Mulford joins as Head of Underwriting and Portfolio Management for WOCF’s Lender Finance business. Neal previously held senior underwriting and portfolio management leadership roles at AloStar Capital Finance, CIT Bank, Regions Bank and Heller Financial.
Andre Hakkak, CEO of White Oak, comments: "We are excited to have this first class team join our growing ambitions to build a scalable ABL platform for the benefit of institutional investors worldwide. Unlike a bank that finances ABL with mostly a liability-driven balance sheet, White Oak finances ABL loans with investor capital. In a low interest rate environment, asset-based loans provide compelling risk-adjusted yields with investment grade or near-investment grade risk profiles.”
“I am excited to be part of a spectacular team that has built a strong track record in the ABL space, backed by robust infrastructure and technology systems to process all types of ABL products,” says Andy McGhee.
“Andy and his team developed a great business at AloStar Capital Finance, and we look forward to enhancing White Oak’s capabilities with their leadership here,” states Tom Otte, Chairman of WOCF.
Today, WOCF employs over 100 professionals focused on invoice discounting, factoring, supply chain finance and other ABL products serving borrowers in the U.S. and internationally. In 2019, WOCF deployed over $300 million of capital across its various product offerings. It expects to deploy over $500 million of capital in 2020 as the COVID-19 pandemic creates demand for working capital across various industries.
ABOUT WHITE OAK COMMERCIAL FINANCE, LLC
White Oak Commercial Finance, LLC is a global financial products and services company providing credit facilities from $2 – 250 million to middle market companies. WOCF’s solutions include asset-based lending, full-service factoring, invoice discounting, supply chain financing, inventory financing, U.S. import/export financing, trade credit risk management, account receivables management and credit and collections support. The firm is headquartered in New York, with seven additional offices throughout the U.S. including San Francisco, Charlotte, Atlanta and Los Angeles. WOCF is an affiliate of White Oak Global Advisors, LLC, and its institutional clients. More information can be found at www.whiteoaksf.com/commercialfinance.
ABOUT WHITE OAK GLOBAL ADVISORS, LLC
White Oak Global Advisors, LLC is a leading global alternative asset manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Since its inception in 2007, White Oak Global Advisors, LLC's disciplined investment process aims to deliver risk-adjusted investment returns for our investors while establishing long term partnerships with our borrowers. More information can be found at www.whiteoaksf.com.