Next Edge Capital closed a revolving credit facility for $47.5 million with CIBC and NELI Canada LP2, a special purpose funding vehicle utilized by the Next Edge Private Debt Fund.
Next Edge Capital is an alternative investment management firm focused on finding value-added investment opportunities with a focus on private lending. Through the Next Edge Private Debt Fund, it has provided lending capital to small and medium-sized business throughout North America, focused on factoring, asset-based lending and specialty finance loans.
A challenge when managing a fund that provides lending capital is to manage cash by matching investor inflows to loan investment outflows. This involves planning for funding new loans still going through diligence which are anticipated to close and funding existing loans. This revolving lending facility will allow for a reduction in unutilized cash, in addition to increasing the efficiency of the fund and the collective businesses that it works with.
“We are delighted with the relationship with CIBC, they have truly been a great team to work with. The credit facility will aid in funding new loan opportunities and the operating efficiency of the overall collective businesses involved. We look forward to a collective, long-term rewarding partnership with CIBC for years to come,” said Toreigh Stuart, CEO of Next Edge Capital.
