CIT Names Former Monroe MD Adelson to Commercial Services Team

Marc Adelson joined CIT’s Commercial Services business as managing director and Northeast regional manager. Adelson joined from Monroe Capital where he was a managing director.

Fine to Lead New CIT, Allstate ABL Partnership

CIT appointed Penny Fine as managing director to lead business development for CIT Northbridge Credit, the company’s recently announced joint venture with Allstate. Fine served as EVP and head of National Restructuring at CIT from 2005 to 2008.

CIT Bank Enters Into Strategic Partnership with Allstate

CIT Bank created a strategic partnership with Allstate. The joint venture, CIT Northbridge Credit, will provide revolving and term loan commitments to middle market companies.

CIT Closes $140MM Debt Funding For Sunnova Energy

CIT Group served as administrative agent and sole lead arranger for a $140 million credit facility for residential solar provider Sunnova Energy.

CIT Arranges $65MM Financing for Medical Equipment Distributor

CIT Group’s Healthcare Finance business provided a $65 million senior secured credit facility to QMES, a distributor of durable medical equipment to patients in the Northeast.

Former CIT CCO Joins White Oak Global as Chief Credit Officer

White Oak Global expanded its leadership team with the hiring of Kenneth Wendler as partner, chief credit officer and investment committee member. He was previously with CIT as CCO of the commercial finance business and investment committee vice chairman.

CIT Direct Capital Hits $4B in Originations; Portfolio Over $1B

CIT Group’s Direct Capital has provided more than $4 billion in equipment financing and working capital loans to more than 100,000 small businesses since its inception in 1993.

CIT Names Fawcett Executive Vice President, CFO

CIT Group named John Fawcett executive vice president and chief financial officer, succeeding CFO Carol Hayles who has decided to pursue other opportunities.

CIT Agents Financing for GCL New Energy Solar Projects in NC

CIT Group’s Energy Finance business served as sole lead arranger and administrative agent for a $59.8 million financing to GCL New Energy.

Trump Appointee Resigns from CIT Board of Directors

Steven T. Mnuchin resigned from the CIT board of directors. His resignation follows President-elect Donald J. Trump’s announced intention to nominate Mnuchin as the next Secretary of the Treasury.