Encina Private Credit (“EPC”) announced today a significant expansion to its capital base with $500mm in incremental capital commitments. This capital will enable the platform to scale its first-out, enterprise value loan product in partnership with its growing roster of direct lending partners.

In connection with the significant expansion of its capital base, EPC also announced it has hired Michael Hensinger as its President & Chief Commercial Officer.

Aftermath means the consequences or aftereffects of a significant unpleasant event, like Covid-19. The financial system is going to experience this first-hand. No firm, whether it be bank or non-bank, will be left unscathed. The author is purposely writing this article now in order to predict that one of the many untold stories will be that the nation’s biggest banks were expecting the unexpected as it pertains to their middle-market C&I and ABL portfolios.  Clearly, no bank in the country could have imagined a complete shutdown based on a virus, but what they could and did imagine was a severe depression irrespective of the cause.  Not only were they expecting, but they were prepared in unexpected ways.  The same cannot be said for certain community and regional banks and BDCs, which might not have had the resources, scale or wherewithal to prepare.