News

Sterling National Bank's commercial services group provided a recourse factoring facility totaling $1 million to a Northeast-based importer of precious and semi-precious stones, which will use the facility to provide working capital for future growth.

H.I.G. Capital, a global alternative investment firm with more than €36 billion ($50.76 billion) of equity capital under management, expanded its European WhiteHorse team with the addition of Sebastian Lorenz as principal and head of the DACH region.

Alex and Ani entered into a restructuring support agreement with its debt holders and equity sponsors and commenced Chapter 11 proceedings. Portage Point Partners is serving as Alex and Ani’s financial advisor in connection with the restructuring.

First Business Bank’s accounts receivable financing group closed a $2 million factoring facility for a provider of transportation services across the Midwest.

Small business loan approval percentages at big banks (or those with more than $10 billion in assets) climbed slightly from 13.4% in April to 13.5% in May, according to the latest Biz2Credit Small Business Lending Index. In addition, approvals at...

J.P. Morgan Asset Management launched J.P. Morgan Private Capital, which includes a new growth equity investment arm and the firm’s existing private debt business. Brian Carlin, previously CEO of wealth management solutions at J.P. Morgan, will lead the new division.

Eagle Point Credit Management appointed Nate Morse head corporate trader. Morse has more than 20 years of industry experience. Prior to joining Eagle Point Credit Management, he spent five years as a credit trader at Aristeia Capital.

Crescent Capital Group, an alternative credit investment firm, provided a unitranche facility to Nurture Landscapes, a UK-based B2B provider of grounds maintenance, landscaping and winter gritting services.

Carl Marks Advisors completed the restructuring and sale of Aztec Events & Tents and Shaffer Sports. Carl Marks Advisors served as restructuring advisor to the company, with partner Brian Williams acting as chief restructuring officer.

Global M&A Network recognized Monroe Capital as the Mid-Markets Lender of the Year at the U.S.A. M&A Atlas Awards Gala on May 26.