News

According to a new survey from State Street, institutional investors still retain high levels of confidence in their asset managers amid the COVID-19 crisis. Specifically, 76% of institutional investors stated that they have faith in their asset managers’ ability to...

A growing number of suppliers are using their receivables as a source of liquidity to alleviate financial strains in the wake of the coronavirus pandemic, according to Maureen Sullivan, head of supply chain finance at Mitsubishi UFJ Financial Group.

A majority (90%) of U.S. private equity fund managers expect to see a rise in the volume of distressed fund transaction activity over the next 12 months, according to the results of a survey from Intertrust.

The U.S. Small Business Administration issued a “green light” or “go forth” letter inviting Hercules Capital to finalize its application process to obtain a license to form and operate a third small business investment company subsidiary.

TPG Specialty Lending will change its name to Sixth Street Specialty Lending, effective June 15. The new name reflects the previously announced completion of an agreement between Sixth Street Partners and TPG to become independent, unaffiliated businesses.

AlixPartners is acting as restructuring advisor to Jason Industries, which entered into a restructuring support agreement with certain of its senior secured lenders. Jason Industries also will pursue protection under Chapter 11 of the U.S. Bankruptcy Code.

The International Factoring Association appointed four new Advisory Board members, including Bud Crawford of PrimeArc Capital, Dean Landis of Entrepreneur Growth Capital, Meg Roberson of Gulf Coast Business Credit and Glen Shu of Heritage Bank of Commerce.

North Mill Capital provided $2.75 million in recent transactions, including a $1.75 million asset-based revolving line of credit to a wholesaler and distributor of maple syrup in Wisconsin.

J D Factors provided $1.47 million in recent factoring facilities, including a $500,000 factoring facility to a transportation company in New York.

BRF Finance, an affiliate of B. Riley Financial, committed to provide Tuesday Morning with $25 million of debtor-in-possession financing as required by the company’s current $100 million DIP agreement with its existing lender group.