News

Manufacturers Bank will change its name to SMBC MANUBANK as it expands into new markets and industries, highlighting its decades-long affiliation with Sumitomo Mitsui Banking.

Franklin BSP Realty Trust (FBRT) closed BSPRT 2023-FL10, an approximately $900 million managed commercial real estate collateralized loan obligation. This was FBRT’s 10th CLO completed since June 2017.

Värde Partners, a global alternative investment firm, raised nearly $1.5 billion for asset-based lending opportunities through The Värde Asset Lending Fund II and related accounts and co-investments. The firm received support from a global base of institutional investors.

Peoples Financial Services and FNCB Bancorp entered into a definitive agreement under which Peoples and FNCB will combine in an all-stock strategic merger valued at approximately $129 million.

Confidence in the asset-based lending market in the second quarter was driven by hopes of a soft landing for the U.S. economy, according to data released by the Secured Finance Network.

In the year ahead, 63% of 100+ advisors surveyed by Ninepoint Partners plan to increase their allocations to private credit, and 83% plan to increase exposure to alternative assets.

Altriarch Asset Management’s new structured capital investment strategy aims to provide flexible debt allocations to factors and asset-backed lending companies nationwide.

Centerbridge Partners and Wells Fargo entered into a strategic relationship focused on direct lending to non-sponsor North American middle market companies.

Rosenthal & Rosenthal’s west coast office completed two factoring transactions for a home goods company and a footwear e-tailer company.

Biz2X, a subsidiary of financial technology company Biz2Credit, entered into a new partnership with TAB Bank, an Ogden, UT-based digital bank that has provided financial solutions to middle-market commercial customers since 1998.