News

The Federal Reserve announced that it will raise the target range for the federal funds rate to between 4.75% and 5% on Wednesday, marking a quarter point increase and its second such move of 2023.

The Korea Economic Daily named Monroe Capital the winner of its 2022 Best Performance in Private Debt – MidCap award as part of the Best Asset Managers by Korean Investors Awards Program.

According to Timothy Burniston, a regulatory compliance expert at Wolters Kluwer Compliance Solutions, markets should be reassured by the response of federal regulators to maintain stability in the U.S. banking system in the wake of the collapse of Silicon Valley...

A joint venture group consisting of Hilco Merchant Retail Solutions, Gordon Brothers Canada, Tiger Asset Solutions Canada and B. Riley Retail Canada were assigned to oversee liquidation sales at 13 Nordstrom store locations in Canada.

Commercial Finance Partners has qualified and financed more than $150 million in Employee Retention Credits. The company also has expanded the financing program to include larger credits in excess of $10 million.

Portland, OR-based Pacific West Bank added a new team that will lead the bank’s expansion into the Vancouver, WA, market. The new unit includes Robert Greenawald, who will serve as senior vice president and commercial lending team leader.

Ares Management, a global alternative investment manager, and Mubadala Investment Company, a global sovereign investor, formed a joint venture to invest in global credit secondaries opportunities.

According to the Secured Finance Network, since new California disclosure rules were implemented in December 2022, 40% of respondents were found to be “no longer lending” to prospective borrowers who fall within the regulations’ threshold of less than $500,000.

Monitor, the leading source of information for the equipment finance industry, has announced the details of Converge, an extraordinary two-day event that will be held in Philadelphia from June 14-15.

SVB Financial Group, which is no longer affiliated with Silicon Valley Bank, filed a voluntary petition for a court-supervised reorganization under Chapter 11 in the United States Bankruptcy Court for the Southern District of New York to preserve value.