Wingspire Capital LLC is pleased to announce that it completed five transactions with cumulative commitments of more than $230 million in the first quarter of 2023.

The types and sizes of the transactions were diverse, as were the borrowers — ranging from a major cosmetics brand to a travel technology platform to a global cloud networking provider.  The senior secured credit facilities included revolvers, exit financing as part of a pre-packaged bankruptcy, an add-on financing term loan, and an agented $125 million facility.

Innovation in high net-worth lending is primed to be a new frontier in credit.  Rarely do opportunities exist to make waves in lending, but this is one.  Banks and wire houses are conservative and working on traditional lending models that limit borrower options for untapped equity in multiple forms of assets.  There is also a wall between consumer and business lending units so most banks cannot take a holistic approach to a business owner’s business and personal assets.  Several groups working together can, but this takes time, adds complexity and still has its limitations in a regulatory and traditional banking environment.  Coincidentally, both commercial lenders and wealth managers are starting to converge on this space and each other’s turf by changing their offerings.