White Oak Global Advisors completed the acquisition of Finacity, a global provider of working capital and trade finance funding solutions to global businesses.
Finacity originates, structures and places more than $100 billion in trade finance receivables yearly with more than 50 financial institutions in asset-backed security structures. Finacity has facilitated transactions for receivables denominated in 58 currencies with obligors in more than 175 countries.
Adrian Katz will remain CEO and an equity holder of Finacity and work the leadership of White Oak Global Advisors. With this acquisition, White Oak and its affiliates will have more than 215 professionals focused on asset-based lending offering trade receivables securitization and a variety of ABL products, including invoice discounting, factoring, trade finance, supply chain finance, lender finance and import-export finance.
The acquisition will accelerate White Oak’s drive into the $30 trillion market for asset-based working capital solutions. Finacity will operate as a standalone business but will work with White Oak in areas where there are synergies, including when White Oak deploys institutional capital on Finacity’s platform. Finacity is headquartered in Stamford, CT, and will be rebranded as White Oak Finacity.
“We are delighted to be welcoming Finacity to the White Oak family. Finacity is a market leader and there are significant synergies between their work and the work we are already doing at White Oak,” Andre Hakkak, CEO of White Oak Global Advisors, said. “This acquisition further demonstrates White Oak’s commitment to being a leading global player in asset-backed capital solutions, which is integral to the functioning of the global economy. In particular, Finacity’s experience in making securitization of accounts receivable and consumer assets less complex and more cost effective will provide significant advantage to our clients. We look forward to working closely with Adrian and the team at Finacity as we embark on this new partnership.”
“Everyone at Finacity is excited to be starting this new chapter of our story as part of White Oak. We have known the leadership at White Oak for a long time and are convinced that this move is absolutely the right one to enable Finacity to thrive,” Katz said. “I am particularly excited about the new opportunities that collaboration with White Oak will open up through the combination of our market expertise and global scale.”
