Yieldstreet, a private markets investing platform, and Garrington Capital, a provider of capital solutions to small- and mid-sized enterprises in the U.S. and Canada, formed a new joint venture focused on opportunities in the equipment finance sector.
The joint venture will be managed by Garrington’s equipment finance division, known as Garrington Equipment Finance, which provides first-priority, secured loans and sale-leaseback transactions of up to $12 million, with collateral primarily consisting of critical machinery and equipment used by the transportation, agriculture and healthcare sectors. The division focuses on small and middle-market corporate credit and asset-based opportunities that are often ignored by traditional sources of credit, such as banks and larger credit managers.
“Credit strategies are in high demand from Yieldstreet investors given current market conditions. We are pleased to partner with Garrington to provide our members with a compelling opportunity to access this asset class while meeting the needs of small, growing businesses at a time when traditional sources of credit are tightening,” Barbara Anderson, head of private business credit at Yieldstreet, said. “We look forward to leveraging our deep in-house credit experience to secure attractive potential returns for our investors.”
“We are extremely excited about the opportunity to work with Yieldstreet again, allowing us to build an attractive diversified portfolio of equipment loans and leases on behalf of our investors,” Jordan Allen, CEO of Garrington Capital, said. “GEF provides loans to critical, recession-resilient industries and companies, and we believe our partnership is well placed to capitalize on current market trends and our teams’ 100 years of collective experience providing capital to small- and medium-sized enterprises.”
