Category: New Ventures

Ares Capital Enters Venture Finance Sector

Ares Capital announced that its investment adviser, Ares Capital Management, has added a team of eight venture finance professionals formerly with BlueCrest Capital Finance GP. Bill DeMars will lead the group.

TCF Bank Expands Commercial Banking Business

TCF National Bank announced the creation of a new commercial banking division called TCF Capital Funding. TCF Capital Funding’s president, Joe Gaffigan, joined TCF Bank after a 25-year career in the leverage finance business.

Perella Affiliate, Others Form Northpoint Commercial Finance

Perella Weinberg Partners announced that Perella Weinberg Partners’ Asset Based Value strategy partnered with a team of industry veterans to form Northpoint Commercial Finance, a non-auto inventory finance lender. In conjunction, Northpoint also secured a credit facility from Goldman Sachs Bank USA.

CoBiz Forms Structured Finance Group

CoBiz Financial has formed CoBiz Structured Finance to provide asset-based loans to middle-market businesses within the company’s footprint. Chris Randall, previously a co-founder, board member and COO of MFC Capital Funding, will lead the group.

Bridge Bank Launches Group for Renewable Energy Project Finance

Bridge Capital Holdings announced the launch of its Energy and Infrastructure Group (EIG), which will offer specialized financing for clients with proven sustainable alternative energy projects located in the U.S. Scott Reising, senior vice president at Bridge Bank, will lead the new group.

Stellus Capital Management Announces Launch

Stellus Capital Management announced its official launch and spin off from the D. E. Shaw group. The Stellus team will continue its current strategies of providing secured and unsecured loans to middle-market companies and private equity sponsors in a wide range of industries.