Great Rock Capital upsized its leverage facility with KeyBank. The leverage facility, agented by KeyBank, provides more than $550 million of capital and includes the recent additions of new lending partners EverBank and Axiom Bank.
EverBank added five new members to its recently launched fund finance division, including Gabrielle Buckner, Chris Grier, Storey Whalen and Alexa Schult as directors and Ryan Burke as vice president.
EverBank (which is still temporarily doing business as TIAA Bank) launched a new fund finance division under the leadership of Jeff Johnston and Mike Mascia. Together, Johnston and Mascia have more than 40 years of fund finance experience.
TIAA completed the sale of TIAA Bank to private investors with experience in financial services and will now officially begin operating once more as EverBank under a new national bank charter. Terms of the transaction are not being disclosed.
TIAA Bank will become EverBank, returning to its previous brand name, as the bank transitions to new ownership. The brand name change will go into effect following the close of the sale of TIAA Bank first announced last November, with the closing expected this summer.
TriplePoint Venture Growth amended its credit facility with Deutsche Bank as administrative agent, increasing the capacity to $210 million and extending the revolver period to February 20, 2020.
TIAA agreed ti acquire EverBank in a deal valued at $2.5 billion. The deal is expected to close in the first half of 2017.
EverBank expanded its Lender Finance division and combined the Capital Equipment Finance and Business Credit units into a single group. The company added two former GE Capital employees to its senior management team.
EverBank will consolidate its Capital Equipment Finance and Business Credit units into a single organization called EverBank Business Finance. The new unit will be led by Ken Walters, previous head of EverBank’s Capital Equipment Finance business.
Hercules Capital expanded its credit facility with Wells Fargo Capital Finance under which EverBank has committed $25 million, for a total of a $120 million in capacity under a $300 million accordion credit facility.