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Wells Fargo Capital Finance Provides $110MM Credit Facility to Mountain Ridge Capital and Alpine Ridge Funding

Mountain Ridge Capital (MRC) and Alpine Ridge Funding (ARF), both independent asset-based lending and factoring companies backed by Arena Investors, closed a $110 million senior credit facility from Wells Fargo Capital Finance.

Factoring Sector Expects Better Business Conditions and Portfolio Performance in 2024

While lenders experienced subdued demand for factoring in 2023, reflecting soft consumer retail spending and a cautious retailer approach to inventory management, the Secured Finance Network’s Year-End Factoring Survey found that overall factoring sentiment improved somewhat last year.

April 24, 2024 Rich Gumbrecht | Secured Finance Network | SFNet Brianna Wilson

American Bankruptcy Institute Elects New Officers and Directors, Names Ward President

The American Bankruptcy Institute elected new members to leadership positions as officers and directors, including naming Christopher A. Ward of Polsinelli president for a one-year term, succeeding Soneet R. Kapila of KapilaMukamal.

April 24, 2024 American Bankruptcy Institute | Christopher A. Ward | Soneet R. Kapila Phil Neuffer

Comvest Credit Partners Provides Credit Facility to Senior Helpers to Support Acquisition

Comvest Credit Partners is acting as administrative agent on a senior secured credit facility for Senior Helpers, a Towson, MD-based provider of home care and wellness offerings for seniors, to support its acquisition by private equity firm Waud Capital Partners.

First Business Bank Promotes Runyard to Senior Credit and Portfolio Manager for Accounts Receivable Financing

First Business Bank promoted Paige Runyard to assistant vice president and senior credit and portfolio manager within its accounts receivable financing team, which is part of First Business Specialty Finance. Runyard previously led the group’s credit department.

April 24, 2024 Accounts Receivable Financing | Assistant Vice President | Bill Elliott | First Business Bank | Paige Runyard Brianna Wilson

Alvarez & Marsal’s CPI Group Bolsters CFO Services with New Managing Director Appointments

Professional services firm Alvarez & Marsal expanded its CFO services group offering with the appointment of managing directors Gregg Nicoll, Vikas Kumar and Sean Kracklauer within its corporate performance improvement practice.

Hercules Capital Celebrates 20th Anniversary by Reaching $20B in Cumulative Originations

Specialty finance company Hercules Capital has reached $20 billion in total debt commitments since its founding in December 2003, with its first deal originated in 2004.

April 24, 2024 Hercules Capital | Scott Bluestein Phil Neuffer

Renasant Bank Names New CEO

The board of directors of Renasant Corporation, the parent company of Renasant Bank, implemented the next step of its management succession plan, designating Kevin D. Chapman to become CEO of the company and the bank in May 2025.

April 24, 2024 C. Mitchell Waycaster | E. Robinson McGraw | Kevin D. Chapman | Renasant Bank | Renasant Corporation Phil Neuffer

King & Spalding Hires Gordy as Securities Regulation Partner

Law firm King & Spalding hired securities regulation lawyer Emily Gordy as a partner in its special matters and government investigations practice group. Gordy joined King & Spalding from McGuireWoods, where she was a partner.

April 24, 2024 Emily Gordy | King & Spalding | Mark Jensen Phil Neuffer

Deerpath Capital Management Closes 10th Collateralized Loan Obligation

Deerpath Capital Management closed Deerpath CLO 2024-1, a $452.6 million collateralized loan obligation (CLO). This marks Deerpath’s first new issuance CLO in 2024. Including a CLO reset and upsize in July 2023 and CLO 2023-2, this transaction represents the firm’s 10th CLO over the past six years.

April 24, 2024 Collateralized Loan Obligation | Deerpath Capital Management | Derek Dubois Brianna Wilson

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