TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
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The Importance of Stretching
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
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It’s a Marathon, Not a Sprint
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It’s Not Too Late – Five Member Benefits to Cash In On Now
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It’s Time To Break Up With Your Phone
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
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September 12, 2024
Source: Comvest Credit Partners
West Palm Beach, Fla. – Comvest Credit Partners (“Comvest”), a leading provider of flexible direct financing solutions to middle-market companies, today announced the recent closing of its debut Collateralized Loan Obligation (CLO), Comvest 2024-1 CLO (“Comvest CLO”), at $500 million.
“We are excited to leverage Comvest’s resources and capabilities to further expand our credit product offering and fund financing sources,” said Jason Gelberd, a Partner and Chief Operating Officer and Co-Head of Direct Lending for Comvest. “A CLO solution builds upon Comvest’s longstanding expertise in middle-market credit investment management and provides investors diverse opportunities to invest in Comvest, whether through our direct lending funds or a CLO.”
“We are thankful for the strong response from our investor base and believe our ability to price a CLO reflects confidence in our veteran credit investment team and 18-year performance record through market cycles. We hope to return to the market and become a programmatic CLO issuer,” Mr. Gelberd continued.
Comvest CLO is rated by Standard & Poor’s and collateralized by a diversified portfolio of senior secured loans, originated and managed by Comvest, with a nine-month reinvestment period and a nine-month non-call period.
Deutsche Bank Securities Inc. served as the Lead Manager and Sole Bookrunner on the transaction. NatWest Markets plc acted as the Co-Placement Agent and GreensLedge Capital Markets LLC was the Co-Manager.
Comvest is the first debut issuer of a middle-market U.S. CLO in 2024.
About Comvest Credit Partners
Comvest Credit Partners, the direct lending platform of Comvest Partners, focuses on providing flexible financing solutions to middle-market companies. Comvest Credit Partners provides senior secured, unitranche, and second lien capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations, with credit facilities up to $300 million-plus. For more information, please visit comvest.com/direct-lending.
About Comvest Partners
Comvest Partners is a private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and special opportunities investment platforms, Comvest offers tailored investment solutions across the capital structure along with deep industry expertise, operating resources, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages $12.5 billion in assets, and has invested over $13.5 billion since inception. Based in West Palm Beach, Comvest also maintains offices in Chicago and New York City. For more information, please visit comvest.com.
