News

Ares Management, and funds managed by its Credit Group, closed approximately $8.3 billion in U.S. direct lending commitments across 50 transactions during the fourth quarter of 2022.

B. Riley Securities, a middle market investment bank and subsidiary of B. Riley Financial, served as sole bookrunner on a successful underwritten public offering of Bed Bath & Beyond Series A convertible preferred stock and warrants.

Rocade launched as a specialty finance company focused on litigation finance with a long-term investment approach, in partnership with Barings, an investment manager.

First Citizens Bank's healthcare finance group, part of the CIT division, provided $31.2 million to Montecito Medical Real Estate to finance the acquisition of a cancer treatment center in Columbia, SC.

Wingspire Capital provided more than $700 million in senior secured financing commitments in 2022, bringing its total to $3 billion in its third year of operations.

Solifi released the latest version of its asset-based lending (ABL) software, which includes several new and enhanced features designed to improve both the lender and borrower experiences.

Small business loan approval percentages at big banks slipped again, falling from 14.5% in December to 14.4% in January 2023, according to the latest Biz2Credit Small Business Lending Index. However, approval rates at small banks and non-bank lenders improved.

According to the Scottish Financial News, Sallyport Commercial Finance is opening a division in Scotland to be led by Andy Tait, a former veteran of Bibby Financial Services.

Rosenthal & Rosenthal launched a new recourse factoring program designed to meet the unique financing needs of growing service businesses and light manufacturing and assembly businesses.

ENGS Commercial Finance integrated Notarize into its fintech platform. Through Notarize, ENGS customers can schedule their closings 24 hours per day, six days per week.