400 Capital Management, a $4.4 billion alternative credit asset manager, hired Quinn R. Barton III to expand its investments in commercial real estate finance. Barton, formerly a managing partner at Carmel Partners, joined as a senior portfolio manager of CRE and CMBS.
H.I.G. Capital, a global alternative asset management firm, closed its third European lower middle market fund, H.I.G. Europe Capital Partners III, with aggregate capital commitments of $1.3 billion (€1.1 billion).
According to a survey from Cerebro Capital, 76% of non-bank lenders expect loan demand to surge over the coming months as borrowers leave commercial banks in search of relaxed covenants and flexible loan structures.
A new entrant joined the private business credit world in June, as wealth management and financial technology firm Yieldstreet launched its newest vertical. With long-time business partners Barbara Anderson and Larry Curran forming the core of the new group, Yieldstreet Private Business Credit aims to grow right alongside its borrowers and investors.
The advent of cryptocurrency created a new asset class and in the years since its introduction has slowly created new opportunities in the asset-based lending market for crypto-backed lenders like SALT Lending.
Global investment manager Fortress Investment Group provided a $100 million line of credit to Covered Care, a healthcare finance company.
Caltius Equity Partners’ portfolio company, ACIS Innovative Solutions, acquired a Texas-based commercial HVAC services provider to expand its geographic footprint in Texas.
Private equity company New Mountain Capital acquired Georgia-based dental services company Benevis from Lincoln International.
Investec Power and Infrastructure Finance acted as sole bookrunner, coordinating lead arranger and administrative agent on a seven-year, $200 million debt financing facility for a holding company of Cypress Creek Renewables.
Athene, an affiliate of Apollo Capital Management, committed to provide Hertz Global Holdings a $4 billion asset-backed securitization short-term facility.