• KKR Taps Pietrzak as Sole Global Head of Private Credit
    May 22, 2023

    Daniel Pietrzak, a partner at KKR & Co., has been named the alternative money manager's sole global head of private credit, a spokeswoman said in an email Friday. Mr. Pietrzak was named the sole global head following the departure of fellow partner and co-head of private credit Matthieu Boulanger to pursue other opportunities, the spokeswoman said.

  • CIT Northbridge Credit Provides $40 Million Credit Facility for Tronair
    May 18, 2023
    First Citizens Bank today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, has provided $40 million in financing for Tronair, a leader in the manufacturing of ground support equipment, aftermarket replacement parts and services for the global aviation market.
  • MidCap Financial Closes $325mm Senior Revolving Credit Facility to Revlon
    May 16, 2023
    MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $325mm senior revolving credit facility to Revlon Intermediate Holdings IV LLC. (“Revlon” or “Company”) in connection with Revlon’s successful emergence from Chapter 11.  
  • Vice Media Files for Bankruptcy
    May 15, 2023
    Vice 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, 2023
    TPG 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.
  • Nathan Pettit-NYU-150 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, 2023
    Goldman 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, 2023
    Legacy 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.
  • MentoringArt_150 SFFound and DEI Committee Launch Second Iteration of Spring Mentorship Program
    May 9, 2023
    The 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, 2023
    Tom 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.
  • US Capital Global Launches Global M&A Division for the Emerging Growth and Middle Market Arena
  • Entrepreneur Growth Capital LLC Completes $8.0 Million Credit Facility for Wholesale Distributor Company
    May 4, 2023
    The 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.
  • Post_Jennifer_150pixels 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.
  • Wingspire Capital Provides $30 Million Revolver to GTT Communications
    May 2, 2023
    Wingspire 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.

  • SFNet’s Emerging Leaders Summit, Mid-Year Roundtables to Offer More Networking Opportunities
    May 1, 2023
    SFNet’s Emerging Leaders Summit (formerly YoPro Leadership Summit) will be held in Florida for the first time since its inception in 2018. This year, SFNet is adding Mid-Year Member Roundtables, a CEO Roundtable (invitation only), and a Chapter Presidents meeting held in conjunction with the Summit, May 22-23, 2023 at the Innisbrook Resort in Palm Harbor, FL.

    “Our younger members have told us they want to build relationships with cohorts at all levels of experience and influence as well as with their peers,” said Rich Gumbrecht, CEO, SFNet. “So, we tried something new this year by coupling our Mid-Year Member Roundtables and Chapter Presidents meeting with the Emerging Leader Summit. We programmed lots of interconnectivity through social events and shared programming to create a contact-rich environment.”
  • JPMorgan Chase Acquires Substantial Majority of Assets and Assumes Certain Liabilities of First Republic Bank
    May 1, 2023
    JPMorgan Chase (NYSE: JPM) today announced it has acquired the substantial majority of assets and assumed the deposits and certain other liabilities of First Republic Bank from the Federal Deposit Insurance Corporation (FDIC). In carrying out this transaction, JPMorgan Chase is supporting the U.S. financial system through its significant strength and execution capabilities. As part of the purchase, JPMorgan Chase is assuming all deposits – insured and uninsured.
  • First Citizens Bank Provides $16 Million in Financing to FitLife Brands, Inc.
    Apr 27, 2023
    First Citizens Bank today announced that its Middle Market Banking business provided $16 million in financing to FitLife Brands, Inc., a provider of innovative and proprietary nutritional supplements headquartered in Omaha, Nebraska.