News

Funds managed by the credit group of Ares Management closed approximately $2.1 billion in U.S. direct lending commitments across 35 transactions during Q1/23.

U.S. Bank introduced a new business diversity lending program that will expand the ability of women-, minority- and veteran-owned businesses to obtain capital, building upon the bank’s broader efforts to support underrepresented businesses and help address the wealth gap.

Lendscape, a technology provider for the secured finance industry, and Validis, a financial data API provider, entered a strategic partnership to accelerate digitalization and innovation in the business finance market.

eCapital Healthcare delivered funding to nine businesses in the healthcare industry during Q1/23. The transactions, ranging from $1 million to $15 million in size, included eight working capital loans and one senior housing real estate bridge loan.

Lisa Rafter, publisher of Monitor, announced the nominees for Monitor‘s Converge Awards. The winner of each award will be revealed at Monitor’s 50th Anniversary Converge Gala in Philadelphia on June 15.

Citizens announced its national Citizens Business Conditions Index (CBCI) rose to 53.9 in Q1/23, reflecting continued strength in the labor market, more new business openings and positive corporate revenue trends.

Oaktree Capital Management closed Oaktree European Capital Solutions Fund III, a private debt fund that closed with a total capital commitment of €1.2 billion ($1.33 billion).

CVC Credit priced Apidos XLV, a new issue collateralized loan obligation vehicle totalling $500 million. Bank of America served as lead arranger.

Lisa Rafter, publisher of Monitor, will go live today at 2 p.m. EDT to announce the nominees for Monitor‘s Converge Awards.

According to the Secured Finance Network’s annual asset-based lending and factoring survey, there was solid growth in commitments and outstandings and strong portfolio performance in the ABL market last year, while the factoring industry proved similarly resilient.