News

Allspring Global Investments officially commenced operations as an independent asset management firm. This marks the close of the acquisition of Wells Fargo Asset Management by GTCR and Reverence Capital Partners. The firm’s new name, Allspring Global Investments, takes effect immediately.

Funds managed by Ares Management’s credit group closed approximately $7.2 billion in commitments across 54 transactions during Q3/21 and approximately $27 billion in commitments across 244 transactions in the 12-month period ended Sept. 30.

Citizens reported that the Citizens Business Conditions Index fell slightly to a mark of 57.1 in Q3/21 from Q2/21’s reading of 57.4. Despite the decrease, Citizens said the third quarter’s reading reflects continued strength in the recovery since COVID-19 stunned...

Siena Lending Group closed two deals with a combined value of $110 million to companies in the mobile accessories and media services market in Q3/21. In addition, Siena Healthcare Finance closed a $12 million deal with a pharmaceuticals company during...

Gordon Brothers will serve as Ranger Energy Services’ agent in the disposition of excess oil field services equipment and operating assets the company purchased through the Basic Energy Services bankruptcy process.

Crestmark secured a total of $11.7 million in asset-based lending and factoring financial solutions for 13 new clients and Crestmark’s government guaranteed lending group provided $910,000 in financing for one new client in the first half of October.

Stonebriar Commercial Finance extended its relationship with Solifi as the provider of a software-as-a-service technology platform to support back-office portfolio management and growth goals.

Companies have unique opportunities to shift their focus beyond capital structure fixes during bankruptcy and identify plans and strategies for building a stronger foundation for sustainable growth upon emerging from Chapter 11, according to a study released by FTI Consulting.

As PRG prepares for the full reopening of the industries it serves, it enlisted Tiger Group to auction select live event and production-ready audiovisual gear from its existing rental inventories.

Finacity and PNC Bank launched a trade receivables securitization for a U.S.-headquartered technology support company. The securitization program will allow the company up to $25 million in senior funding provided by PNC, while Finacity will provide up to $1.6 million...